Overconfidence and Early‐Life Experiences: The Effect of Managerial Traits on Corporate Financial Policies

By Ulrike Malmendier, Geoffrey A. Tate, Jonathan Yan. 2011

1,734 citations recorded by the source corpus.

View Paper: https://www.semanticscholar.org/paper/9ae4e59582cd1336db1adaff2d40186ceb30663f

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Citations in the corpus

The Bright Side of Managerial Over-Optimism (2016, background): “…and Cheon, 1998). is the ratio of book value of total liabilities to total assets at the beginning of the quarter (Fombrun and Shanley, 1990; Malmendier et al., 2011). is the standard deviation of the quarterly ratio of net income over assets over at least six of the preceding eight…”
This Time Is the Same: Using Bank Performance in 1998 to Explain Bank Performance During the Recent Financial Crisis (2012, neutral): “Further and perhaps more importantly, an 4 See, e.g., Bertrand and Schoar (2003), Malmendier and Nagel (2010) and Malmendier, Tate, and Yan (2011). unexpected adverse event could lead an institution to assess payoff probabilities differently (for instance, as in Gennaioli, Shleifer, and Vishny…”
CEO Gender, Corporate Risk-Taking, and the Efficiency of Capital Allocation (2016, neutral): “Those studies include Bertrand and Schoar (2003), Malmendier and Tate (2005, 2008), Malmendier et al. (2011), Benmelech and Frydman (2015), Cronqvist et al. (2012), and Cain and McKeon (2016).”
Financial Expert CEOs: CEO’s Work Experience and Firm’s Financial Policies (2014, neutral): “…and Tate (2005) study education, Kaplan, Klebanov, and Sorensen (2012) personal characteristics, and Malmendier and Tate (2005, 2008), Graham, Harvey, and Puri (2013), Hirshleifer, Low, and Teoh (2012), Malmendier, Tate, and Yan (2011), and Lin, Ma, Officer, and Zou (2011) analyze personal traits.”
Living through the Great Chinese Famine: Early-life experiences and managerial decisions ☆ (2018, background): “by severe events if they occur early on in life (e.g., Elder, 1998; Malmendier et al., 2011).”
CEO Overconfidence and Dividend Policy (2013, positive): “Following Malmendier and Tate (2008, 2005) and Malmendier et al. (2011), we classify managers as ‘‘overconfident’’ if they overinvest personal funds in their own company.1 1042-9573/$ - see front matter 2013 Elsevier Inc.”
CEO Overconfidence and Management Forecasting (2016, positive): “The frequency of overconfident CEOs is similar to Malmendier et al. (2011),”
Executive Overconfidence and Compensation Structure (2015, positive): “Overconfidence measures (CEOs) Holder67 The Holder67 measure computed following the procedure in Malmendier et al. (2011). Specifically, it starts by computing a ‘Confidence’ variable, which is defined as the ‘value per vested option’ scaled by the ‘average strike price’ of those options.”
Are Overconfident CEOs Better Leaders? Evidence from Stakeholder Commitments (2017, positive): “As before, we include industry dummies and year dummies following Malmendier, Tate, and Yan (2011) and cluster standard errors by firm.”