Who Makes Acquisitions? CEO Overconfidence and the Market's Reaction
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https://www.nber.org/papers/w10813
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资源简介：
Overconfident CEOs over-estimate their ability to generate returns. Thus, on the margin, they undertake mergers that destroy value. They also perceive outside finance to be over-priced. We classify CEOs as overconfident when, despite their under-diversification, they hold options on company stock
提供机构：
美国国家经济研究局
创建时间：
2004-10-01
