| CEO Overconfidence or Private Information? Evidence from U.S. Property-Liability Insurance Companies | |
|---|---|
| 學年 | 105 |
| 學期 | 1 |
| 發表日期 | 2017-01-06 |
| 作品名稱 | CEO Overconfidence or Private Information? Evidence from U.S. Property-Liability Insurance Companies |
| 作品名稱（其他語言） | |
| 著者 | Chia-Ling Ho; Sangyong Han; Gene C. Lai |
| 作品所屬單位 | |
| 出版者 | |
| 會議名稱 | American Economic Association 2017 |
| 會議地點 | Chicago, IL., U.S.A. |
| 摘要 | This paper uses conventional measures of CEO overconfidence: option holdings-based and net stock purchase-based measures to examine the impact of CEOs who hold firm-specific risk on insurer’s risk-taking and firm performance. We focus on the insurance industry because using reinsurance demand as a proxy for risk-taking provides a precise measurement of CEO’s risk-taking. We find that the two CEO overconfidence measures are negatively associated with insurer’s risk-taking and positively related to firm performance. Our findings suggest that it may not be CEO overconfidence, but rather the private information and the intention to control the company’s risk that drive our results. |
| 關鍵字 | CEO Overconfidence;Risk Taking;Firm Performance;Reinsurance Demand |
| 語言 | en_US |
| 收錄於 | |
| 會議性質 | 國際 |
| 校內研討會地點 | 無 |
| 研討會時間 | 20170106~20170108 |
| 通訊作者 | |
| 國別 | USA |
| 公開徵稿 | |
| 出版型式 | |
| 出處 | ASSA |
| 相關連結 |
機構典藏連結 ( http://tkuir.lib.tku.edu.tw:8080/dspace/handle/987654321/109523 ) |
| SDGS | 優質教育 |
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