Overconfidence, CEO Awards, and Corporate Tax Aggressiveness
作者： Thomas R. Kubick , G. Brandon Lockhart
DOI: 10.1111/JBFA.12237
关键词:
摘要: Theory and prior research suggest that overconfidence leads managers to overestimate their own ability generate returns, leading riskier corporate policies. We use a novel dataset of media awards as an exogenous shock test whether award-winning CEOs adopt more aggressive tax Using propensity score matching difference-in-difference design, we find strong evidence firms with CEO exhibit significantly greater aggressiveness following the award. Overall, our results has meaningful impact on policy.
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