教師資料查詢 | 類別: 會議論文 | 教師: 何佳玲 HO, CHIA-LING (瀏覽個人網頁)

標題: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
語言英文(美國)
收錄於
會議性質國際
校內研討會地點
研討會時間20170106~20170108
通訊作者
國別美國
公開徵稿
出版型式
出處ASSA
相關連結
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