Managerial Myopia, Financial Expertise, and Executive-Firm Matching
DC Field | Value | Language |
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dc.contributor.author | Anjos, Fernando | - |
dc.contributor.author | Kang, Chang Mo | - |
dc.date.accessioned | 2021-08-02T15:31:45Z | - |
dc.date.available | 2021-08-02T15:31:45Z | - |
dc.date.created | 2021-05-14 | - |
dc.date.issued | 2017-02 | - |
dc.identifier.issn | 0929-1199 | - |
dc.identifier.uri | https://scholarworks.bwise.kr/hanyang/handle/2021.sw.hanyang/20561 | - |
dc.description.abstract | Existing literature emphasizes skills-based explanations for executive-firm matching, namely in the context of financial expertise. In contrast, our paper argues that informational concerns may also be relevant. We model a public firm with a project opportunity of uncertain quality, where long-run shareholders choose between hiring an operational manager or a financial expert. These managers are equally myopic, however financial experts are also privy to stock-market beliefs. Financial experts invest sub-optimally due to catering incentives, while operational managers tend to engage in signaling-driven overinvestment. We show that operational managers are preferred for low-NPV projects or when stock markets are well informed. | - |
dc.language | 영어 | - |
dc.language.iso | en | - |
dc.publisher | ELSEVIER SCIENCE BV | - |
dc.title | Managerial Myopia, Financial Expertise, and Executive-Firm Matching | - |
dc.type | Article | - |
dc.contributor.affiliatedAuthor | Kang, Chang Mo | - |
dc.identifier.doi | 10.1016/j.jcorpfin.2017.02.010 | - |
dc.identifier.scopusid | 2-s2.0-85013839312 | - |
dc.identifier.wosid | 000399269000024 | - |
dc.identifier.bibliographicCitation | JOURNAL OF CORPORATE FINANCE, v.43, pp.464 - 479 | - |
dc.relation.isPartOf | JOURNAL OF CORPORATE FINANCE | - |
dc.citation.title | JOURNAL OF CORPORATE FINANCE | - |
dc.citation.volume | 43 | - |
dc.citation.startPage | 464 | - |
dc.citation.endPage | 479 | - |
dc.type.rims | ART | - |
dc.type.docType | 정기학술지(Article(Perspective Article포함)) | - |
dc.description.journalClass | 1 | - |
dc.description.isOpenAccess | N | - |
dc.description.journalRegisteredClass | ssci | - |
dc.description.journalRegisteredClass | scopus | - |
dc.relation.journalResearchArea | Business & Economics | - |
dc.relation.journalWebOfScienceCategory | Business, Finance | - |
dc.subject.keywordPlus | STOCK-MARKETPOLICIESWANTS | - |
dc.subject.keywordAuthor | Managerial myopiaCateringFinancial expertiseExecutive-firm matching | - |
dc.identifier.url | https://www.sciencedirect.com/science/article/pii/S0929119916302942?via%3Dihub | - |
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