Time-varying managerial overconfidence and pecking order preference

This paper examines whether managerial overconfidence enhances or weakens pecking order preference. We construct time-varying managerial words-based (i.e. tone of Chairman’s Statement) and action-based (i.e. firm investment and directors’ trading) overconfidence measures. Both optimistic tone and in...

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Bibliographic Details

Main Authors:	Andrew Vivian, Bin Xu
Format:	Default Article
Published:	2017
Subjects:	Other commerce, management, tourism and services not elsewhere classified Managerial overconfidence Pecking order preference Optimistic tone Business and Management not elsewhere classified
Online Access:	https://hdl.handle.net/2134/25375
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