دورية أكاديمية
Does overconfidence pay off when things go well?: CEO overconfidence, firm performance, and the business cycle
| العنوان: | Does overconfidence pay off when things go well?: CEO overconfidence, firm performance, and the business cycle |
|---|---|
| المؤلفون: | Reyes, Tomas, Vassolo, Roberto Santiago, Kausel, Edgar E., Peña Torres, Diamela, Zhang, Stephen |
| بيانات النشر: | SAGE Publications |
| المجموعة: | CONICET Digital (Consejo Nacional de Investigaciones Científicas y Técnicas) |
| مصطلحات موضوعية: | BUSINESS CYCLE, CEO OVERCONFIDENCE, FIRM PERFORMANCE, RECESSIONS, https://purl.org/becyt/ford/5.2Test, https://purl.org/becyt/ford/5Test |
| الوصف: | We investigate the moderating effect of the business cycle on the positive relationship between CEO overconfidence and firm performance. We propose that the expansion years of the business cycle enhance the positive impact of overconfident CEOs on firms’ performance. However, this effect is reduced during recession periods. We analyze the effect of CEO overconfidence on the Return on Equity of publicly listed US firms from 1992 to 2015, a period that includes the bursting of the dot-com bubble in 2001 and the Great Recession of 2008–2009. The empirical findings support the hypotheses that expansion periods increase the positive relationship between overconfident CEOs and firms’ performance, but this positive effect weakens during recessions. ; Fil: Reyes, Tomas. Pontificia Universidad Católica de Chile; Chile ; Fil: Vassolo, Roberto Santiago. Universidad Austral. Instituto de Altos Estudios; Argentina. Pontificia Universidad Católica de Chile; Chile. Consejo Nacional de Investigaciones Científicas y Técnicas; Argentina ; Fil: Kausel, Edgar E. Pontificia Universidad Católica de Chile; Chile ; Fil: Peña Torres, Diamela. Pontificia Universidad Católica de Chile; Chile ; Fil: Zhang, Stephen. University of Adelaide; Australia |
| نوع الوثيقة: | article in journal/newspaper |
| وصف الملف: | application/pdf |
| اللغة: | English |
| تدمد: | 1476-1270 1741-315X |
| العلاقة: | http://hdl.handle.net/11336/171209Test; Reyes, Tomas; Vassolo, Roberto Santiago; Kausel, Edgar E.; Peña Torres, Diamela; Zhang, Stephen; Does overconfidence pay off when things go well?: CEO overconfidence, firm performance, and the business cycle; SAGE Publications; Strategic Organization; 20; 3; 24-6-2020; 510-540; CONICET Digital; CONICET |
| الإتاحة: | https://doi.org/10.1177/1476127020930659Test http://hdl.handle.net/11336/171209Test |
| حقوق: | info:eu-repo/semantics/openAccess ; https://creativecommons.org/licenses/by-nc-sa/2.5/arTest/ |
| رقم الانضمام: | edsbas.7D505B2A |
| قاعدة البيانات: | BASE |
| تدمد: | 14761270 1741315X |
|---|