1. Ktisis Cyprus University of Technology
  2. Cyprus University of Technology (Research Output)
  3. Άρθρα/Articles
Please use this identifier to cite or link to this item: https://hdl.handle.net/20.500.14279/13651
DC FieldValueLanguage
dc.contributor.authorAktas, Nihat-
dc.contributor.authorLouca, Christodoulos-
dc.contributor.authorPetmezas, Dimitris-
dc.date.accessioned2019-05-16T18:47:15Z-
dc.date.available2019-05-16T18:47:15Z-
dc.date.issued2019-02-
dc.identifier.citationJournal of Corporate Finance, 2019, vol. 54, pp. 85-106en_US
dc.identifier.issn09291199-
dc.description.abstractCash holding is on average more valuable when firms are managed by overconfident CEOs. Economically, having an overconfident CEO on board is associated with an increase of $0.28 in the value of $1.00 cash holding. The positive effect of CEO overconfidence on the value of cash concentrates among firms that are more likely to suffer from the underinvestment problem (i.e., financially constrained firms which exhibit high growth opportunities). In addition, CEO overconfidence affects negatively the value of cash in firms that are financially unconstrained, a finding which is consistent with the overinvestment hypothesis. The results are robust to various tests and alternative explanations.en_US
dc.formatpdfen_US
dc.language.isoenen_US
dc.relation.ispartofJournal of Corporate Financeen_US
dc.rights© Elsevieren_US
dc.subjectOverconfidenceen_US
dc.subjectInnovationen_US
dc.subjectManagerial overconfidenceen_US
dc.titleCEO overconfidence and the value of corporate cash holdingsen_US
dc.typeArticleen_US
dc.collaborationWHU Otto Beisheim School of Managementen_US
dc.collaborationUniversity of Surreyen_US
dc.collaborationCyprus University of Technologyen_US
dc.subject.categoryEconomics and Businessen_US
dc.journalsSubscriptionen_US
dc.countryGermanyen_US
dc.countryCyprusen_US
dc.countryUnited Kingdomen_US
dc.subject.fieldSocial Sciencesen_US
dc.publicationPeer Revieweden_US
dc.identifier.doi10.1016/j.jcorpfin.2018.11.006en_US
dc.relation.volume54en_US
cut.common.academicyear2018-2019en_US
dc.identifier.spage85en_US
dc.identifier.epage106en_US
item.openairecristypehttp://purl.org/coar/resource_type/c_6501-
item.grantfulltextnone-
item.cerifentitytypePublications-
item.fulltextNo Fulltext-
item.languageiso639-1en-
item.openairetypearticle-
crisitem.author.deptDepartment of Finance, Accounting and Management Science-
crisitem.author.facultyFaculty of Tourism Management, Hospitality and Entrepreneurship-
crisitem.author.orcid0000-0003-3436-3734-
crisitem.author.parentorgFaculty of Management and Economics-
crisitem.journal.journalissn0929-1199-
crisitem.journal.publisherElsevier-
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