Do Overconfident CEOs Pay More to Shareholders? Evidence from the US Market

Do Overconfident CEOs Pay More to Shareholders? Evidence from the US Market

This paper aims to discover evidence on the possible impact of CEO overconfidence on payout policy, and the role of corporate boards in offsetting the possible negative effects of this overconfidence. Our investigation demonstrates the effect of overconfidence on the choice of payout method, specifi...

Full description

Bibliographic Details
Main Author:	Artem Anilov
Format:	Article
Language:	English
Published:	National Research University Higher School of Economics 2020-06-01
Series:	Корпоративные финансы
Subjects:	payout policy behavioral corporate finance overconfidence share repurchases corporate governance board of directors
Online Access:	https://cfjournal.hse.ru/article/view/10073/10965

Similar Items

The cost of financial flexibility: Evidence from share repurchases
by: Bonaimé, Alice A., et al.
Published: (2016)

Tax aggressiveness and CEO overconfidence in the stock market: Evidence from Brazil
by: Giovana Carrer, et al.
Published: (2021-02-01)

Factors influencing the share repurchase decision : A look into Nordic firms
by: Wållberg, Fredric, et al.
Published: (2021)

Managerial overconfidence and dividend policy in Vietnamese enterprises
by: Dat Dinh Nguyen, et al.
Published: (2021-01-01)

CEO Overconfidence, Leadership Ethics, and Institutional Investors
by: Joohee Park, et al.
Published: (2016-12-01)

The relationships between managerial overconfidence, audit committee, CEO duality and audit quality and accounting misstatements
by: Hasnan, S., et al.
Published: (2020)

Credibility of corporate announcements and market reaction : evidence from Canadian share repurchase programs
by: Schmidt, Luke
Published: (2006)

The Influence of Corporate Governance Quality and Growth Opportunities on Firms’ Payout Policy
by: te Velde, Rob
Published: (2019)

CEO compensation, pay inequality, and the gender diversity of bank board of directors
by: Owen, A.L, et al.
Published: (2019)

Evidence on the Value of Director Monitoring: A Natural Experiment
Published: (2014)

Board independence and corporate governance: evidence from director resignations
by: Gupta, Manu
Published: (2005)

CEO Duality In Listed Corporations: Is There An End To The Dichotomous Debate?
by: Westby, Abigail
Published: (2014)

CEO Duality In Listed Corporations: Is There An End To The Dichotomous Debate?
by: Westby, Abigail
Published: (2014)

Board of Directors and Dividend Policy in Russian Companies with Direct State Ownership
by: Irina Berezinets, et al.
Published: (2017-03-01)

Management Overconfidence and CSR Activities in Korea with a Big Data Approach
by: Sun-A Kang, et al.
Published: (2020-05-01)

Overconfidence, Managerial Optimism, and the Determinants of Capital Structure
by: Alexandre di Miceli da Silveira, et al.
Published: (2008-12-01)

CEO Turnover in Russian Corporations
by: Kudin L.Sh.
Published: (2018-11-01)

CEO Emotional Intelligence and Board of Directors Efficiency
by: Mohamed Ali Azouzi, et al.
Published: (2012-07-01)

The role of independent non-executive directors in Thailand : their own perception
by: Lewchalermwongse, Niruncha
Published: (2010)

Designated Directors in the Boardroom: Their Impact on Governance and Performance and Shareholder Wealth Effects
by: Cole, Laura Seery
Published: (2011)

Internal Control Mechanisms and Forced CEO Turnover: An Empirical Investigation
by: Jagannathan, Murali
Published: (2014)

Determinants of stock price volatility: Evidence from cement industry
by: Arshad Mehmood, et al.
Published: (2019-05-01)

Big Fish in a small pond? : A quantitative study about independence and the social networks among corporate boards in Denmark, Finland and Sweden
by: Bergmark, Jessica, et al.
Published: (2014)

Анализ российской и международной практики корпоративного управления
Published: (2020-01-01)

Do Corporate Governance Recommendations Apply to U.S. Agricultural Cooperatives?
by: Jason R. V. Franken, et al.
Published: (2019-09-01)

Corporate Governance: A scientometric analysis
by: Maliheh Alsadat Kermanian, et al.
Published: (2019-05-01)

Thesis title: A Study Of The Relationship Between Board Composition and Firm Performance In TSE
by: حسن قالیباف اصل, et al.
Published: (2007-05-01)

CEO Compensation and Concurrent Executive Employment of Outside Directors: A Panel Data Analysis of S&P 1500 firms
by: KIM, YOUNG-CHUL, et al.
Published: (2016-08-01)

The implications of ownership concentration for shareholder protection and strategic decision-making
by: Nikolić Jelena, et al.
Published: (2016-01-01)

The effect of managers' overconfidence on dividend policy in the firms listed in Tehran stock market
by: Shahnaz Mashayekh, et al.
Published: (2014-12-01)

Sovereign Debt Sustainability Multilateral Debt Treatment and the Credit Rating Impasse
Published: (2023)

Foreign background directors and corporate performance: empirical evidence from China's listed companies.
Published: (2012)

Rethinking board role performance: Towards an integrative model
by: Babić Verica M., et al.
Published: (2011-01-01)

“Board independence” and compensation structure of directors
by: Elena Merino, et al.
Published: (2013-12-01)

Seeking the Best Master State Ownership in the Varieties of Capitalism
Published: (2020)

Imposing Standards The North-South Dimension to Global Tax Politics
Published: (2021)

Inside or outside CEO succession and firm performance: evidence from CEO turnover in China.
Published: (2010)

Are Good Deeds Rewarded? Director Awards and the Market for Directorships
by: Tran, Hai
Published: (2015)

Corporate life cycle, corporate governance structure, and corporate social responsibility disclosure
by: Permata Ayu Widyasari, et al.
Published: (2019-07-01)

Managerial overconfidence : interactions with corporate governance and firm performance
by: Vitanova, Ivana
Published: (2014)