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| DC 欄位 | 值 | 語言 |
|---|---|---|
| dc.contributor.advisor | 林嬋娟(Chan-Jane Lin),陳坤志(Kun-Chih Chen) | |
| dc.contributor.author | Yun-Ting Chang | en |
| dc.contributor.author | 張耘庭 | zh_TW |
| dc.date.accessioned | 2021-06-17T01:59:08Z | - |
| dc.date.available | 2017-07-21 | |
| dc.date.copyright | 2017-07-21 | |
| dc.date.issued | 2017 | |
| dc.date.submitted | 2017-07-20 | |
| dc.identifier.citation | Ben-David, Gramham, and Harvey, 2007, Managerial Overconfidence and Corporate Policies, The National Bureau of Economic Research, working paper no. 13711
Boyd, 1995, CEO Duality and Firm Performance: A Contingency Model, Strategic Management Journal, Vol.16, no.4, 301-312 Campbell, Gallmeyer, Johnson, Rutherford, and Stanley, 2011, CEO Optimism and Forced Turnover, Journal of Finance and Economics, Vol.101, No. 3, 695-712 Chen and Wang, 2012, Financial Constraints and Share Repurchase, Journal of Financial Economics, Vol 105, no. 2, 311-331 Cochran, Wood, and Jones, 1985, The Composition of Boards of Directors and Incidence of Golden Parachutes, Academy of Management Journal, Vol.28, no.3, 664-671 Deshmukh, Goel, and Howe 2013, CEO Overconfidence and Dividend Policy, Journal of Financial Intermediation, Vol.22, No. 3, 440-463 Donaldson and Davis, 1991, Stewardship Theory and Agency Theory: CEO Governance and Shareholder Returns, Australian Journal of Management, Vol.16, no.1 Fama and Jensen, 1983, Separation of Ownership and Control, The Journal of Law and Economics, Vol.26, no.2, 301-325 Finkelstein and D’Aveni, 1994, CEO Duality as a Double-Edged Sword: How Boards of Directors Balance Entrenchment Avoidance and Unity of Command, Academy of Management, Vol.37, no. 5, 1078-1108 Goel and Thakor, 2008, Overconfidence, CEO Selection, and Corporate Governance, The Journal of Finance, Vol. 63, No.6, 2737-2784 Hambrick and Fukutomi, 1991, The Seasons of CEO’s Tenure, Academy of Management Journal, Vol.16, no.4, 719-742 Henderson and Fredrickson, 2001, Top Management Team Coordination Needs and the CEO Pay Gap: A Competitive Test of Economic and Behavior Views, Academy of Management Journal, Vol. 44, no. 1, 96-117 Henderson, Miller, Hambrick, 2006, How Quickly Do CEO Became Obsolete? Industry Dynamisn, CEO Tenure, and Company Performance, Strategic Management, Vol.27, No.5,447-460 Hirshleifer, Low, and Teoh, 2012, Are Overconfident CEO Better Innovators? The Journal of Finance, Vol. 67, no.4, 1457-1498 Malmendier and Tate, 2005, CEO Overconfidence and Corporate Investment, The Journal of Finance, Vol. 60 No. 6, 2661-2700 Miller and Shamsie, 2001, Learning Across the Life Cycle: Experimentation and Performance among the Hollywood Studio Heads, Strategic Management, Vol.22, no. 8, 725-745 Morck, Schwartz, and Stangeland, 1989, The Valuation of Forestry Resources under Stochastic Price and Inventories, Journal of Financial and Quantitative Analysis, Vol.24, no. 4, 473-387 Pi and Timme, 1993, Corporate Control and Bank Efficiency, Journal of Banking and Finance, vol.17, no.2-3, 510-535 Peng, Zhang, and Li, 2007, CEO Duality and Firm Performance during China's Institutional Transitions, Management and Organization Review, vol.3, no. 2, 205-225 Rechner and Dalton, 1991, CEO Duality and Organizational Performance: A Longitudinal Analysis, Strategic Management, Vol.12, No.2, 155-160 Simon and Houghton 2003, The Relationship Between Overconfidence and the Introduction of Risky Products: Evidence from a Field Study, Academy of Management, Vol.46, no. 2, 139-149 Westphal and Zajac, 1995, Who Shall Govern? CEO/Board Power, Demographic Similarity, and New Director Selection, Administrative Science Quarterly, Vol. 40, No. 1, 60-83 | |
| dc.identifier.uri | http://tdr.lib.ntu.edu.tw/jspui/handle/123456789/67935 | - |
| dc.description.abstract | 過去文獻發現CEO過度自信與公司價值間有非直線性關係，本文的實證結果證明此非線性關係存在，且受到CEO的權力及經驗調節，實證結果顯示，當CEO不具雙重性或有較短任期時，CEO過度自信對公司表現有正面影響，而當CEO具雙重性或有較長任期時，CEO過度自信對公司表現則有負面影響，在考量過度自信程度及內生性問題後，此調節效果仍存續，本文根據實證結果提出建議，公司藉由可限制CEO雙重性及長任期，使CEO過度自信有利於公司。 | zh_TW |
| dc.description.abstract | Prior literature reveals that a CEO’s overconfidence enhances firm performance up to a point but the effect is nonmonotonic. We demonstrate the non-linearity of CEO overconfidence and show that the non-linearity is affected by CEO’s power and experience. More specifically, we show that CEO overconfidence will be harmful to firm performance when the CEO is more powerful or more experienced. Our results are valid regardless of CEO overconfidence level. Based on our results, we suggest that a firm can make CEO overconfidence beneficial to firm performance by restricting CEO duality and long term tenure. | en |
| dc.description.provenance | Made available in DSpace on 2021-06-17T01:59:08Z (GMT). No. of bitstreams: 1 ntu-106-R04722011-1.pdf: 1221796 bytes, checksum: a44978af941f41c4890ebfe55fa88238 (MD5) Previous issue date: 2017 | en |
| dc.description.tableofcontents | Table of Content
I. Introduction……………………………………………………………………....1 II. Motivation……………………………………………………………………......4 III. Literature Review…………………………………………………......5 A. CEO Overconfidence……………………………………………....5 B. CEO Duality…………………………………………………………….....6 C. CEO Tenure……………………………………………………………….....8 IV. Hypothesis Development……………………………………......8 H1……………………………………………………………………………...........9 H2……………………………………………………………………………..........11 H3……………………………………………………………………………..........12 V. Data Sources and Variables……………..........12 A. Data Sources……………………………………………………………...12 B. Variables…………………………………………………………………....14 1. CEO Overconfidence………………………………………………..14 2. CEO Duality………………………………………………………….....17 3. CEO Tenure…………………………………………………………......17 4. Firm Performance……………………………………………………..17 5. Control Variables…………………………………………………….18 VI. Empirical Results and Analysis……………………………………19 A. The Non Linearity of CEO Overconfidence……20 B. The Moderating Effect of CEO Duality and Tenure on Overconfidence…..................................20 1. Duality……………………………………………………………….......20 2. Tenure………………………………………………………………........22 C. Implications……………………………………………………………….....25 VII. Sensitivity Analysis…………………………………………………………..25 A. Overconfidence Threshold 67%.................................................26 B. Overconfidence Threshold 100%................................................27 VIII. Endogeneity Problem………………………………………………………....28 IX. Regression Tables……………………………………………………………....29 X. Conclusion……………………………………………………………………........46 XI. Reference…………………………………………………………………….........47 | |
| dc.language.iso | en | |
| dc.subject | CEO過度自信 | zh_TW |
| dc.subject | CEO雙重性 | zh_TW |
| dc.subject | CEO任期 | zh_TW |
| dc.subject | 公司表現 | zh_TW |
| dc.subject | 調節效果 | zh_TW |
| dc.subject | moderating effect | en |
| dc.subject | firm performance | en |
| dc.subject | tenure | en |
| dc.subject | overconfidence | en |
| dc.subject | duality | en |
| dc.title | 探討CEO過度自信對公司表現的正面與負面影響 | zh_TW |
| dc.title | Exploring the Bright Side and Down Side of CEO Overconfidence on Firm Performance | en |
| dc.type | Thesis | |
| dc.date.schoolyear | 105-2 | |
| dc.description.degree | 碩士 | |
| dc.contributor.oralexamcommittee | 孔繁華,吳菊華 | |
| dc.subject.keyword | CEO過度自信,CEO雙重性,CEO任期,公司表現,調節效果, | zh_TW |
| dc.subject.keyword | overconfidence,duality,tenure,firm performance,moderating effect, | en |
| dc.relation.page | 49 | |
| dc.identifier.doi | 10.6342/NTU201701741 | |
| dc.rights.note | 有償授權 | |
| dc.date.accepted | 2017-07-20 | |
| dc.contributor.author-college | 管理學院 | zh_TW |
| dc.contributor.author-dept | 會計學研究所 | zh_TW |
| 顯示於系所單位： | 會計學系 | |
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