Two behavioral motivations have been identified for overinvestment: agency conflict (Jensen, 1986) and overconfidence (Heaton, 2002). While the literature on overconfidence and overinvestment studies one of these motivations, with regards to agency related overinvestment, extant literature tends to focus on financial characteristics and control mechanisms to explain the phenomenon. However, such factors influence the act of overinvestment only indirectly through affecting the opportunity to overinvest. Based on literature we can establish that culture influences the opportunity to overinvest through the institutional environment in which the company operates, and the cultural influence on some of the techniques used to mitigate overinvestme...
The overconfidence bias in relation to investment decisions is well documented in psychology and beh...
This paper examines the effect of national culture on corporate risk-taking worldwide. Specifically,...
This study examines capital structure of hospitality firms from a behavioral perspective based on th...
Two behavioral motivations have been identified for overinvestment: agency conflict (Jensen, 1986) a...
Deux types de motivations ont été identifié liées au comportement de surinvestissement : le conflit ...
International audienceUntil recently, risk-taking in investment decisions has been explained bycogni...
The available evidence from numerous studies suggests that overconfidence varies significantly acros...
We investigate the role of national culture in corporate risk-taking. We postulate that culture infl...
While economists believe that monetary incentives provide the most powerful motivation for individua...
The available evidence from numerous studies suggests that overconfidence is a more important phenom...
This research enters new ground by presenting comparative survey evidence on asset managers’ views a...
The literature has identified a set of factors explaining the accumulation of capital. However, litt...
The premises of this doctoral dissertation is investigating the role played by national culture on c...
We investigate the influence of national culture on corporate investment–cash flow sensitivity. We c...
discretion and firm size. Using firm-level data from 35 countries and employing a hierarchical linea...
The overconfidence bias in relation to investment decisions is well documented in psychology and beh...
This paper examines the effect of national culture on corporate risk-taking worldwide. Specifically,...
This study examines capital structure of hospitality firms from a behavioral perspective based on th...
Two behavioral motivations have been identified for overinvestment: agency conflict (Jensen, 1986) a...
Deux types de motivations ont été identifié liées au comportement de surinvestissement : le conflit ...
International audienceUntil recently, risk-taking in investment decisions has been explained bycogni...
The available evidence from numerous studies suggests that overconfidence varies significantly acros...
We investigate the role of national culture in corporate risk-taking. We postulate that culture infl...
While economists believe that monetary incentives provide the most powerful motivation for individua...
The available evidence from numerous studies suggests that overconfidence is a more important phenom...
This research enters new ground by presenting comparative survey evidence on asset managers’ views a...
The literature has identified a set of factors explaining the accumulation of capital. However, litt...
The premises of this doctoral dissertation is investigating the role played by national culture on c...
We investigate the influence of national culture on corporate investment–cash flow sensitivity. We c...
discretion and firm size. Using firm-level data from 35 countries and employing a hierarchical linea...
The overconfidence bias in relation to investment decisions is well documented in psychology and beh...
This paper examines the effect of national culture on corporate risk-taking worldwide. Specifically,...
This study examines capital structure of hospitality firms from a behavioral perspective based on th...