演講主題:Overview of Managerial Overconfidence Research
講題摘要:
Managerial biases literature has found that overconfidence would affect managers’ decisions. Managerial overconfidence causes managers to overestimate future cash flows or underestimate risk and leads them overinvestment. In this work shop, I will review the related empirical research of managerial overconfidence from the aspects of investment, financing, payout, and corporate governance decisions.