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Do optimistic managers destroy firm value?
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DOI：10.1016/j.jbef.2020.100292.png)
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摘要
En 中文
This paper investigates the effect of managerial optimism on firm value. Using Stochastic Frontier Analysis approach, we prove that managerial optimism can largely explain corporate inefficiency among NYSE firms between 1999-2011. We also find evidence that suggests that ownership structure and corporate governance can mitigate the effect of managerial optimism on firm value. (C) 2020 Elsevier B.V. All rights reserved.
Keyword:
Managerial optimism
Firm value
Efficiency
Corporate governance
Ownership structure
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论文数:
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