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dc.contributor.authorAdam, Tim R.en_US
dc.contributor.authorFernando, Chitru S.en_US
dc.contributor.authorGolubeva, Evgeniaen_US
dc.date.accessioned2012-02-22en_US
dc.date.accessioned2012-04-05T16:15:57Z-
dc.date.available2012-04-05T16:15:57Z-
dc.date.issued2012en_US
dc.identifier.urihttp://hdl.handle.net/10419/56675-
dc.description.abstractWe show that managerial overconfidence, which has been found to influence a number of corporate financial decisions, also affects corporate risk management. We find that managers increase their speculative activities using derivatives following speculative gains, while they do not reduce their speculative activities following speculative losses. This asymmetric response follows from selective selfattribution: successes tend to be attributed to one's own skill, while failures tend to be attributed to bad luck. Thus, our results show that managerial behavioral biases can also impact corporate risk management.en_US
dc.language.isoengen_US
dc.publisherSFB 649, Economic Risk Berlinen_US
dc.relation.ispartofseriesSFB 649 discussion paper 2012-018en_US
dc.subject.jelG11en_US
dc.subject.jelG14en_US
dc.subject.jelG32en_US
dc.subject.jelG39en_US
dc.subject.ddc330en_US
dc.subject.keywordcorporate risk managementen_US
dc.subject.keywordbehavioral biasesen_US
dc.subject.keywordmanagerial overconfidenceen_US
dc.subject.keywordspeculationen_US
dc.subject.stwFührungskräfteen_US
dc.subject.stwPersönlichkeitspsychologieen_US
dc.subject.stwRisikomanagementen_US
dc.subject.stwAnlageverhaltenen_US
dc.subject.stwBiasen_US
dc.subject.stwSpekulationen_US
dc.subject.stwSchätzungen_US
dc.subject.stwGoldbergbauen_US
dc.subject.stwUSAen_US
dc.titleManagerial overconfidence and corporate risk managementen_US
dc.typeWorking Paperen_US
dc.identifier.ppn686614887en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US
Appears in Collections:SFB 649 Discussion Papers, HU Berlin

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