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dc.contributor.authorAdam, Tim R.en
dc.contributor.authorFernando, Chitru S.en
dc.contributor.authorGolubeva, Evgeniaen
dc.date.accessioned2012-02-22-
dc.date.accessioned2012-04-05T16:15:57Z-
dc.date.available2012-04-05T16:15:57Z-
dc.date.issued2012-
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
dc.language.isoengen
dc.publisher|aHumboldt University of Berlin, Collaborative Research Center 649 - Economic Risk |cBerlinen
dc.relation.ispartofseries|aSFB 649 Discussion Paper |x2012-018en
dc.subject.jelG11en
dc.subject.jelG14en
dc.subject.jelG32en
dc.subject.jelG39en
dc.subject.ddc330en
dc.subject.keywordcorporate risk managementen
dc.subject.keywordbehavioral biasesen
dc.subject.keywordmanagerial overconfidenceen
dc.subject.keywordspeculationen
dc.subject.stwFührungskräfteen
dc.subject.stwPersönlichkeitspsychologieen
dc.subject.stwRisikomanagementen
dc.subject.stwAnlageverhaltenen
dc.subject.stwBiasen
dc.subject.stwSpekulationen
dc.subject.stwSchätzungen
dc.subject.stwGoldbergbauen
dc.subject.stwUSAen
dc.titleManagerial overconfidence and corporate risk management-
dc.typeWorking Paperen
dc.identifier.ppn686614887en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen

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