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Simon Gervais

Citations

Many of the citations below have been collected in an experimental project, CitEc, where a more detailed citation analysis can be found. These are citations from works listed in RePEc that could be analyzed mechanically. So far, only a minority of all works could be analyzed. See under "Corrections" how you can help improve the citation analysis.

Working papers

  1. Bruce I. Carlin & Simon Gervais, 2009. "Legal Protection in Retail Financial Markets," NBER Working Papers 14972, National Bureau of Economic Research, Inc.

    Cited by:

    1. Inderst, Roman & Georgarakos, Dimitris, 2014. "Financial Advice and Stock Market Participation," CEPR Discussion Papers 9922, Centre for Economic Policy Research.
    2. Sumit Agarwal & Gene Amromin & Itzhak Ben-David & Souphala Chomsisengphet & Douglas D. Evanoff, 2013. "Predatory Lending and the Subprime Crisis," NBER Working Papers 19550, National Bureau of Economic Research, Inc.
    3. Begley, Taylor A. & Purnanandam, Amiyatosh, 2021. "Color and credit: Race, regulation, and the quality of financial services," Journal of Financial Economics, Elsevier, vol. 141(1), pages 48-65.
    4. McInnes Angelique & Ahmed Abdullahi D., 2016. "Examining the Legitimacy of the Current ‘Authorised Representative’ Licensing Model," Financial Planning Research Journal, Paradigm, vol. 2(2), pages 64-90.
    5. Allen, Franklin & Barbalau, Adelina, 2024. "Security design: A review," Journal of Financial Intermediation, Elsevier, vol. 60(C).
    6. Inderst, Roman & Hackethal, Andreas & Meyer, Steffen, 2010. "Trading on Advice," CEPR Discussion Papers 8091, Centre for Economic Policy Research.
    7. Calcagno, Riccardo & Monticone, Chiara, 2015. "Financial literacy and the demand for financial advice," Journal of Banking & Finance, Elsevier, vol. 50(C), pages 363-380.
    8. Shujing Li & Jiaping Qiu, 2014. "Financial Product Differentiation over the State Space in the Mutual Fund Industry," Management Science, INFORMS, vol. 60(2), pages 508-520, February.
    9. Agrawal, Ashwini K., 2009. "The Impact of Investor Protection Law on Corporate Policy: Evidence from the Blue Sky Laws," MPRA Paper 16351, University Library of Munich, Germany.
    10. Itzhak Ben-David & Sumit Agarwal & Gene Amromin & Souphala Chomsisengphet & Douglas D. Evanoff, 2011. "Does Mandatory Loan Review Affect Mortgage Contract Choice and Performance?," NFI Working Papers 2011-WP-12, Indiana State University, Scott College of Business, Networks Financial Institute.

  2. Bruce Ian Carlin & Simon Gervais & Gustavo Manso, 2009. "When Does Libertarian Paternalism Work?," NBER Working Papers 15139, National Bureau of Economic Research, Inc.

    Cited by:

    1. SATO, Motohiro & 佐藤, 主光 & SAITO, Makoto & 齊藤, 誠, 2011. "The context effect in the choice of earthquake insurance contracts in Japan," Discussion Papers 2011-10, Graduate School of Economics, Hitotsubashi University.
    2. V. Smith & Eric Moore, 2010. "Behavioral Economics and Benefit Cost Analysis," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 46(2), pages 217-234, June.
    3. Martin Binder, 2014. "Should evolutionary economists embrace libertarian paternalism?," Journal of Evolutionary Economics, Springer, vol. 24(3), pages 515-539, July.
    4. Klump Rainer & Wörsdörfer Manuel, 2015. "Paternalistic Economic Policies: Foundations, Implications and Critical Evaluations," ORDO. Jahrbuch für die Ordnung von Wirtschaft und Gesellschaft, De Gruyter, vol. 66(1), pages 27-60, January.
    5. Per-Olov Johansson & Bengt Kriström (ed.), 2011. "Modern Cost–Benefit Analysis of Hydropower Conflicts," Books, Edward Elgar Publishing, number 14253.

  3. Simon Gervais & Terrance Odean, "undated". "Learning To Be Overconfident," Rodney L. White Center for Financial Research Working Papers 05-97, Wharton School Rodney L. White Center for Financial Research.

    Cited by:

    1. Wei-Xing Zhou & Guo-Hua Mu & Si-Wei Chen & Didier Sornette, "undated". "Strategies used as Spectroscopy of Financial Markets Reveal New Stylized Facts," Working Papers ETH-RC-11-005, ETH Zurich, Chair of Systems Design.
    2. Andreas Haufler & Yukihiro Nishimura, 2020. "Taxing Mobile and Overconfident Top Earners," CESifo Working Paper Series 8550, CESifo.
    3. Fabrice Rousseau & Herve Boco & Laurent Germain, 2020. "When Overconfident Traders Meet Feedback Traders - Updated from 2016," Economics Department Working Paper Series n270-16.pdf, Department of Economics, National University of Ireland - Maynooth.
    4. Guo, Xu & Lam, Kin & Wong, Wing-Keung & Zhu, Lixing, 2012. "A New Pseudo-Bayesian Model of Investors' Behavior in Financial Crises," MPRA Paper 42535, University Library of Munich, Germany.
    5. Lin, Mei-Chen, 2015. "Seasonal affective disorder and investors’ response to earnings news," International Review of Financial Analysis, Elsevier, vol. 42(C), pages 211-221.
    6. Byomakesh Debata & Jitendra Mahakud, 2018. "Economic policy uncertainty and stock market liquidity," Journal of Financial Economic Policy, Emerald Group Publishing Limited, vol. 10(1), pages 112-135, April.
    7. Gilles Hilary & Lior Menzly, 2006. "Does Past Success Lead Analysts to Become Overconfident?," Management Science, INFORMS, vol. 52(4), pages 489-500, April.
    8. Enkhtuul Bukhsuren & Munkhtsetseg Namsraidorj & Munkhzul Altantsetseg, 2025. "Behavioral Prediction of Mongolian Investors using Machine Learning Techniques," European Journal of Business and Management Research, European Open Science, vol. 10(6), pages 60-67, November.
    9. Guerdjikova, Ani, 2006. "Portfolio Choice and Asset Prices in an Economy Populated by Case-Based Decision Makers," Working Papers 06-13, Cornell University, Center for Analytic Economics.
    10. Stefano Palminteri, 2025. "Human reinforcement learning processes and biases: computational characterization and possible applications to behavioral public policy," Mind & Society: Cognitive Studies in Economics and Social Sciences, Springer;Fondazione Rosselli, vol. 24(2), pages 249-273, December.
    11. Wang, Cheng & Han, Jing, 2023. "Prospect theory and mutual fund flows: Evidence from China," Pacific-Basin Finance Journal, Elsevier, vol. 80(C).
    12. Wu, Qinin & Lu, Jing, 2020. "Air pollution, individual investors, and stock pricing in China," International Review of Economics & Finance, Elsevier, vol. 67(C), pages 267-287.
    13. Fujii Yoichiro & Ogaku Michiko & Okura Mahito & Osaki Yusuke, 2020. "How do Optimistic Individuals Affect Insurance Advertisements?," Asia-Pacific Journal of Risk and Insurance, De Gruyter, vol. 14(2), pages 1-18, July.
    14. Ahrens, Steffen & Bosch-Rosa, Ciril & Roulund, Rasmus, 2019. "Price Dynamics and Trader Overconfidence," Rationality and Competition Discussion Paper Series 161, CRC TRR 190 Rationality and Competition.
    15. Kourtidis, Dimitrios & Šević, Željko & Chatzoglou, Prodromos, 2011. "Investors’ trading activity: A behavioural perspective and empirical results," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 40(5), pages 548-557.
    16. Mike Dempsey, 2014. "The Modigliani and Miller Propositions: The History of a Failed Foundation for Corporate Finance?," Abacus, Accounting Foundation, University of Sydney, vol. 50(3), pages 279-295, September.
    17. Hirshleifer, David & Luo, Guo Ying, 2001. "On the survival of overconfident traders in a competitive securities market," Journal of Financial Markets, Elsevier, vol. 4(1), pages 73-84, January.
    18. Daniel Dorniok, 2012. "Die Einschätzung der Differenz von Wissen und Nichtwissen bei Unternehmensberatern — Ergebnisse eines universellen Strukturgleichungsmodells," Schmalenbach Journal of Business Research, Springer, vol. 64(3), pages 308-340, May.
    19. Acker, Daniella & Duck, Nigel W., 2008. "Cross-cultural overconfidence and biased self-attribution," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 37(5), pages 1815-1824, October.
    20. Avanidhar Subrahmanyam, 2008. "Behavioural Finance: A Review and Synthesis," European Financial Management, European Financial Management Association, vol. 14(1), pages 12-29, January.
    21. Dorota Skała, 2008. "Overconfidence in Psychology and Finance – an Interdisciplinary Literature Review," Bank i Kredyt, Narodowy Bank Polski, vol. 39(4), pages 33-50.
    22. Jordi Caballe & Jozsef Sakovics, 2000. "Speculating against an overconfident market," Edinburgh School of Economics Discussion Paper Series 62, Edinburgh School of Economics, University of Edinburgh.
    23. Ramzi Boussaidi, 2022. "Implications of the overconfidence bias in presence of private information: Evidence from MENA stock markets," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 27(3), pages 3660-3678, July.
    24. Oliver Gloede & Lukas Menkhoff, 2014. "Financial Professionals' Overconfidence: Is It Experience, Function, or Attitude?," European Financial Management, European Financial Management Association, vol. 20(2), pages 236-269, March.
    25. Zhou, Xinxing & Gao, Yan & Wang, Ping & Zhu, Bangzhu, 2022. "Examining the overconfidence and overreaction in China’s carbon markets," Economic Analysis and Policy, Elsevier, vol. 75(C), pages 472-489.
    26. Neubert, Milena & Bannier, Christina E., 2016. "Actual and perceived financial sophistication and wealth accumulation: The role of education and gender," VfS Annual Conference 2016 (Augsburg): Demographic Change 145593, Verein für Socialpolitik / German Economic Association.
    27. Obrimah, Oghenovo A. & Prakash, Puneet, 2010. "Performance reversals and attitudes towards risk in the venture capital (VC) market," Journal of Economics and Business, Elsevier, vol. 62(6), pages 537-561, November.
    28. Kaawach, Said & Kowalewski, Oskar & Talavera, Oleksandr, 2024. "Automatic versus manual investing: Role of past performance," Journal of Financial Stability, Elsevier, vol. 74(C).
    29. Chune Young Chung & Changhwan Choi & Amirhossein Fard, 2024. "Self‐serving attribution and managerial investment decision," Bulletin of Economic Research, Wiley Blackwell, vol. 76(3), pages 749-772, July.
    30. Luis Santos Pinto, 2007. "Positive self-image over time," Nova SBE Working Paper Series wp504, Universidade Nova de Lisboa, Nova School of Business and Economics.
    31. Chuang, Wen-I & Lee, Bong-Soo, 2006. "An empirical evaluation of the overconfidence hypothesis," Journal of Banking & Finance, Elsevier, vol. 30(9), pages 2489-2515, September.
    32. Stephen A. Hillegeist & James P. Kavourakis & Matthew Pinnuck, 2023. "The association between quarter length, forecast errors, and firms’ voluntary disclosures," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 63(2), pages 1885-1918, June.
    33. Gary Charness & Uri Gneezy, 2010. "Portfolio Choice And Risk Attitudes: An Experiment," Economic Inquiry, Western Economic Association International, vol. 48(1), pages 133-146, January.
    34. Ma, Yongfan & Qi, Tiancheng, 2023. "China mainland art investment: Return and portfolio," Finance Research Letters, Elsevier, vol. 58(PC).
    35. Deaves, Richard & Lüders, Erik & Schröder, Michael, 2010. "The dynamics of overconfidence: Evidence from stock market forecasters," Journal of Economic Behavior & Organization, Elsevier, vol. 75(3), pages 402-412, September.
    36. J. Wiesinger & D. Sornette & J. Satinover, 2013. "Reverse Engineering Financial Markets with Majority and Minority Games Using Genetic Algorithms," Computational Economics, Springer;Society for Computational Economics, vol. 41(4), pages 475-492, April.
    37. José Miguel Melo, 2011. "Estratégia Militar e Gestão de Activos: Uma Visão Heurística," Working Papers de Gestão (Management Working Papers) 01, Católica Porto Business School, Universidade Católica Portuguesa.
    38. Abu Khalaf K. Bashar & Firas Y. Hammash, 2017. "Are Amman Stock Exchange Investors Overconfident?," International Journal of Economics and Financial Issues, International Journal of Economics and Financial Issues, vol. 7(2), pages 7-10.
    39. Ivo Blohm & Torben Antretter & Charlotta Sirén & Dietmar Grichnik & Joakim Wincent, 2022. "It’s a Peoples Game, Isn’t It?! A Comparison Between the Investment Returns of Business Angels and Machine Learning Algorithms," Entrepreneurship Theory and Practice, , vol. 46(4), pages 1054-1091, July.
    40. Mohammad Tayeh, 2016. "Determinants of Market Liquidity: Evidence from the Jordanian Stock Market," International Journal of Economics and Finance, Canadian Center of Science and Education, vol. 8(10), pages 48-59, October.
    41. N Loukeris, 2024. "The Model of Health Portfolio Intelligence PI-Prognosis Intelligence," Biomedical Journal of Scientific & Technical Research, Biomedical Research Network+, LLC, vol. 57(4), pages 49409-49416, July.
    42. Hirshleifer, David & Teoh, Siew Hong, 2003. "Limited attention, information disclosure, and financial reporting," Journal of Accounting and Economics, Elsevier, vol. 36(1-3), pages 337-386, December.
    43. Juan Dubra, 2004. "Optimism and Overconfidence in Search," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 7(1), pages 198-218, January.
    44. Chou, Pin-Huang & Huang, Tsung-Yu & Yang, Hung-Jeh, 2013. "Arbitrage risk and the turnover anomaly," Journal of Banking & Finance, Elsevier, vol. 37(11), pages 4172-4182.
    45. Chordia, Tarun & Shivakumar, Lakshmanan, 2006. "Earnings and price momentum," Journal of Financial Economics, Elsevier, vol. 80(3), pages 627-656, June.
    46. Enrico Colombatto & Arie Melnik, 2007. "Early Work Experience and the Transition into Entrepreneurship," Journal of Entrepreneurial Finance, Pepperdine University, Graziadio School of Business and Management, vol. 12(1), pages 9-26, Spring.
    47. Biais, Bruno & Rochet, Jean-Charles & Woolley, Paul, 2013. "The dynamics of innovation and risk," IDEI Working Papers 807, Institut d'Économie Industrielle (IDEI), Toulouse.
    48. Heller, Yuval, 2010. "Overconfidence and risk dispersion," MPRA Paper 25893, University Library of Munich, Germany.
    49. Adhikari, Binay Kumar & Agrawal, Anup, 2016. "Does local religiosity matter for bank risk-taking?," Journal of Corporate Finance, Elsevier, vol. 38(C), pages 272-293.
    50. Siddiqi, Hammad, 2009. "Is the lure of choice reflected in market prices? Experimental evidence based on the 4-door Monty Hall problem," Journal of Economic Psychology, Elsevier, vol. 30(2), pages 203-215, April.
    51. Berg, Nathan & Lein, Donald, 2005. "Does society benefit from investor overconfidence in the ability of financial market experts?," Journal of Economic Behavior & Organization, Elsevier, vol. 58(1), pages 95-116, September.
    52. Pikulina, E.S. & Renneboog, L.D.R. & Ter Horst, J.R. & Tobler, P.N., 2013. "Bonus Schemes and Trading Activity," Other publications TiSEM 134cd4eb-d638-444b-8106-d, Tilburg University, School of Economics and Management.
    53. Pelster, Matthias, 2019. "Attracting attention from peers: Excitement in social trading," Journal of Economic Behavior & Organization, Elsevier, vol. 161(C), pages 158-179.
    54. Wang, Changyun & Yu, Min, 2004. "Trading activity and price reversals in futures markets," Journal of Banking & Finance, Elsevier, vol. 28(6), pages 1337-1361, June.
    55. Chang, Shao-Chi & Chen, Sheng-Syan & Chou, Robin K. & Lin, Yueh-Hsiang, 2008. "Weather and intraday patterns in stock returns and trading activity," Journal of Banking & Finance, Elsevier, vol. 32(9), pages 1754-1766, September.
    56. Glaser, Markus & Weber, Martin, 2005. "Which Past Returns Affect Trading Volume?," SIFR Research Report Series 35, Institute for Financial Research.
    57. Zhou, Deqing, 2013. "Irrational confidence, imperfect and long-lived information," International Review of Economics & Finance, Elsevier, vol. 27(C), pages 383-405.
    58. Jiang, Danling, 2006. "Investor Overreaction, Cross-Sectional Dispersion of Firm Valuations, and Expected Stock Returns," Working Paper Series 2006-8, Ohio State University, Charles A. Dice Center for Research in Financial Economics.
    59. Mostafa Saidur Rahim Khan & Naheed Rabbani, 2019. "Market Conditions and Calendar Anomalies in Japanese Stock Returns," Asia-Pacific Financial Markets, Springer;Japanese Association of Financial Economics and Engineering, vol. 26(2), pages 187-209, June.
    60. Hind Lebdaoui & Youssef Chetioui & Elias Guechi, 2021. "The Impact of Behavioral Biases on Investment Performance: Does Financial Literacy Matter?," International Journal of Economics and Financial Issues, International Journal of Economics and Financial Issues, vol. 11(3), pages 13-21.
    61. Gu, Wentao, 2023. "Impact of Managers’ overconfidence upon listed Firms’ entrepreneurial behavior in an emerging market," Journal of Business Research, Elsevier, vol. 155(PB).
    62. Hirshleifer, David, 2001. "Investor Psychology and Asset Pricing," MPRA Paper 5300, University Library of Munich, Germany.
    63. Helder Sebastião, 2008. "The partial adjustment factors of FTSE 100 stock index and stock index futures: The informational impact of electronic trading systems," GEMF Working Papers 2008-07, GEMF, Faculty of Economics, University of Coimbra.
    64. Philip A. Stork, 2011. "The intertemporal mechanics of European stock price momentum," Studies in Economics and Finance, Emerald Group Publishing Limited, vol. 28(3), pages 217-232, August.
    65. John R. Becker–Blease & Jeffrey E. Sohl, 2011. "The Effect of Gender Diversity on Angel Group Investment," Entrepreneurship Theory and Practice, , vol. 35(4), pages 709-733, July.
    66. Eskreis-Winkler, Lauren & Fishbach, Ayelet, 2020. "Hidden failures," Organizational Behavior and Human Decision Processes, Elsevier, vol. 157(C), pages 57-67.
    67. Ismail, Ahmad & Mavis, Christos P., 2022. "A new method for measuring CEO overconfidence: Evidence from acquisitions," International Review of Financial Analysis, Elsevier, vol. 79(C).
    68. Avdeenko, Alexandra & Bohne, Albrecht & Frölich, Markus, 2019. "Linking savings behavior, confidence and individual feedback: A field experiment in Ethiopia," Journal of Economic Behavior & Organization, Elsevier, vol. 167(C), pages 122-151.
    69. Eberlein, Marion & Przemeck, Judith, 2008. "Whom will you choose? - Collaborator Selection and Selector’s Self-Prediction," Bonn Econ Discussion Papers 12/2008, University of Bonn, Bonn Graduate School of Economics (BGSE).
    70. Markus Noeth & Martin Weber, 2000. "Information Aggregation with Random Ordering: Cascades and Overconfidence," Econometric Society World Congress 2000 Contributed Papers 1592, Econometric Society.
    71. Soleman Alsabban & Omar Alarfaj, 2020. "An Empirical Analysis of Behavioral Finance in the Saudi Stock Market: Evidence of Overconfidence Behavior," International Journal of Economics and Financial Issues, International Journal of Economics and Financial Issues, vol. 10(1), pages 73-86.
    72. Andrey Kudryavtsev, 2015. "Informational Content of Open-to-Close Stock Returns," European Financial and Accounting Journal, Prague University of Economics and Business, vol. 2015(1), pages 5-17.
    73. Pirinsky, Christo, 2013. "Confidence and economic attitudes," Journal of Economic Behavior & Organization, Elsevier, vol. 91(C), pages 139-158.
    74. Verma, Rahul & Verma, Priti, 2007. "Noise trading and stock market volatility," Journal of Multinational Financial Management, Elsevier, vol. 17(3), pages 231-243, July.
    75. Pieper, Torsten M., 2010. "Non solus: Toward a psychology of family business," Journal of Family Business Strategy, Elsevier, vol. 1(1), pages 26-39, March.
    76. Merkle, Christoph & Egan, Daniel P. & Davies, Greg B., 2015. "Investor happiness," Journal of Economic Psychology, Elsevier, vol. 49(C), pages 167-186.
    77. Hélène Rainelli-Le Montagner, 2008. "Finance d'entreprise:voix nouvelles et nouvelles voies," Revue Finance Contrôle Stratégie, revues.org, vol. 11(Special), pages 291-313, June.
    78. Simon, Mark & Shrader, Rodney C., 2012. "Entrepreneurial actions and optimistic overconfidence: The role of motivated reasoning in new product introductions," Journal of Business Venturing, Elsevier, vol. 27(3), pages 291-309.
    79. Khan, Mohammad Tariqul Islam & Tan, Siow-Hooi & Chong, Lee-Lee, 2017. "How past perceived portfolio returns affect financial behaviors—The underlying psychological mechanism," Research in International Business and Finance, Elsevier, vol. 42(C), pages 1478-1488.
    80. Lien, Donald & Hung, Pi-Hsia & Chen, Hung-Ju, 2021. "Who knows more and makes more? A perspective of order submission decisions across investor types," The Quarterly Review of Economics and Finance, Elsevier, vol. 79(C), pages 381-398.
    81. Hendrik Hakenes & Svetlana Katolnik, 2018. "Optimal Team Size and Overconfidence," Group Decision and Negotiation, Springer, vol. 27(4), pages 665-687, August.
    82. Markku Vieru & Jukka Perttunen & Hannu Schadewitz, 2006. "How Investors Trade Around Interim Earnings Announcements," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 33(1‐2), pages 145-178, January.
    83. Bernile, Gennaro & Bonaparte, Yosef & Delikouras, Stefanos, 2025. "Stock market experience and investor overconfidence: Do investors learn to be overconfident?," Journal of Banking & Finance, Elsevier, vol. 174(C).
    84. Salamanca, Nicolás & de Grip, Andries & Fouarge, Didier & Montizaan, Raymond, 2020. "Locus of control and investment in risky assets," Journal of Economic Behavior & Organization, Elsevier, vol. 177(C), pages 548-568.
    85. Andreas Hecht, 2021. "The role of managerial characteristics in FX risk management: Who increases risk?," Review of Managerial Science, Springer, vol. 15(8), pages 2377-2406, November.
    86. Bloomfield, Robert & Libby, Robert & Nelson, Mark W., 2000. "Underreactions, overreactions and moderated confidence," Journal of Financial Markets, Elsevier, vol. 3(2), pages 113-137, May.
    87. Diego García & Francesco Sangiorgi & Branko Urošević, 2007. "Overconfidence and Market Efficiency with Heterogeneous Agents," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 30(2), pages 313-336, February.
    88. Gemayel, Roland & Preda, Alex, 2021. "Performance and learning in an ambiguous environment: A study of cryptocurrency traders," International Review of Financial Analysis, Elsevier, vol. 77(C).
    89. Nikolaos Loukeris & Lysimachos Maltoudoglou & Yannis Boutalis & Iordanis Eleftheriadis, 2025. "Optimizing Investments in the Portfolio Intelligence (PI) Model," JRFM, MDPI, vol. 18(9), pages 1-20, September.
    90. Brad M. Barber & Yi‐Tsung Lee & Yu‐Jane Liu & Terrance Odean, 2007. "Is the Aggregate Investor Reluctant to Realise Losses? Evidence from Taiwan," European Financial Management, European Financial Management Association, vol. 13(3), pages 423-447, June.
    91. Alice Hsiaw & Ing-Haw Cheng, 2016. "Distrust in Experts and the Origins of Disagreement," Working Papers 110R2, Brandeis University, Department of Economics and International Business School, revised Jan 2017.
    92. Benjamin Chabot & Eric Ghysels & Ravi Jagannathan, 2008. "Price Momentum In Stocks: Insights From Victorian Age Data," NBER Working Papers 14500, National Bureau of Economic Research, Inc.
    93. Goodfellow, Christiane & Bohl, Martin T. & Gebka, Bartosz, 2009. "Together we invest? Individual and institutional investors' trading behaviour in Poland," International Review of Financial Analysis, Elsevier, vol. 18(4), pages 212-221, September.
    94. Fung, Alexander Kwok-Wah & Lam, Kin & Lam, Ka-Ming, 2010. "Do the prices of stock index futures in Asia overreact to U.S. market returns?," Journal of Empirical Finance, Elsevier, vol. 17(3), pages 428-440, June.
    95. Leonidas Enrique de la Rosa, 2007. "Overconfidence and Moral Hazard," Economics Working Papers 2007-08, Department of Economics and Business Economics, Aarhus University.
    96. Isabelle Brocas & Juan D. Carrillo, 2005. "Biases in Perceptions, Beliefs and Behavior," Levine's Bibliography 172782000000000063, UCLA Department of Economics.
    97. Menkhoff, Lukas & Schmeling, Maik & Schmidt, Ulrich, 2013. "Overconfidence, experience, and professionalism: An experimental study," Journal of Economic Behavior & Organization, Elsevier, vol. 86(C), pages 92-101.
    98. Chuang, Wen-I & Susmel, Rauli, 2011. "Who is the more overconfident trader? Individual vs. institutional investors," Journal of Banking & Finance, Elsevier, vol. 35(7), pages 1626-1644, July.
    99. Degiannakis, Stavros & Giannopoulos, George, 2009. "Is PEAD a consequence of the presence of the cognitive bias of self-attribution in investors’ expectations regarding permanent earnings? Evidence from Athens Stock Exchange," MPRA Paper 96305, University Library of Munich, Germany.
    100. Claudio Raddatz & Sergio L. Schmukler & Tomas Williams, 2015. "International Asset Allocations and Capital Flows: The Benchmark Effect," Working Papers 042015, Hong Kong Institute for Monetary Research.
    101. Francesco Castellaneta & Oliver Gottschalg & Aleksandra Kacperczyk & Mike Wright, 2022. "Experience as Dr. Jekyll and Mr. Hyde: Performance Outcome Delays in the Private Equity Context," Journal of Management Studies, Wiley Blackwell, vol. 59(6), pages 1359-1385, September.
    102. Jian Wang & Xintian Zhuang & Jun Yang & Jiliang Sheng, 2014. "The effects of optimism bias in teams," Applied Economics, Taylor & Francis Journals, vol. 46(32), pages 3980-3994, November.
    103. Pantisa Pavabutr & Bin Zhao, 2024. "Do retail investors gamble more during lockdown?," International Review of Finance, International Review of Finance Ltd., vol. 24(4), pages 572-603, December.
    104. Kleine, Jens & Wagner, Niklas & Weller, Tim, 2016. "Openness endangers your wealth: Noise trading and the big five," Finance Research Letters, Elsevier, vol. 16(C), pages 239-247.
    105. Abbey, Boris S. & Doukas, John A., 2015. "Do individual currency traders make money?," Journal of International Money and Finance, Elsevier, vol. 56(C), pages 158-177.
    106. Soosung Hwang & Youngha Cho & Jinho Shin, 2020. "The impact of UK household overconfidence in public information on house prices," Journal of Property Research, Taylor & Francis Journals, vol. 37(4), pages 360-389, October.
    107. Griffin, John M. & Nardari, Federico & Stulz, Rene M., 2004. "Stock Market Trading and Market Conditions," Working Paper Series 2004-13, Ohio State University, Charles A. Dice Center for Research in Financial Economics.
    108. Devpura, Neluka & Narayan, Paresh Kumar & Sharma, Susan Sunila, 2019. "Structural instability and predictability," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 63(C).
    109. Lee, Hsiu-Chuan & Chang, Shu-Lien, 2013. "Spillovers of currency carry trade returns, market risk sentiment, and U.S. market returns," The North American Journal of Economics and Finance, Elsevier, vol. 26(C), pages 197-216.
    110. Wang, Wenzhao & Su, Chen & Duxbury, Darren, 2021. "Investor sentiment and stock returns: Global evidence," Journal of Empirical Finance, Elsevier, vol. 63(C), pages 365-391.
    111. Pouget, Sébastien & Villeneuve, Stéphane, 2012. "A Mind is a Terrible Thing to Change: Confirmation Bias in Financial Markets," IDEI Working Papers 720, Institut d'Économie Industrielle (IDEI), Toulouse, revised Aug 2016.
    112. Cassar, Gavin & Craig, Justin, 2009. "An investigation of hindsight bias in nascent venture activity," Journal of Business Venturing, Elsevier, vol. 24(2), pages 149-164, March.
    113. Daniel Dorn & Paul Sengmueller, 2009. "Trading as Entertainment?," Management Science, INFORMS, vol. 55(4), pages 591-603, April.
    114. Hayward, Mathew L.A. & Forster, William R. & Sarasvathy, Saras D. & Fredrickson, Barbara L., 2010. "Beyond hubris: How highly confident entrepreneurs rebound to venture again," Journal of Business Venturing, Elsevier, vol. 25(6), pages 569-578, November.
    115. Chan, Kalok & Covrig, Vicentiu, 2012. "What determines mutual fund trading in foreign stocks?," Journal of International Money and Finance, Elsevier, vol. 31(4), pages 793-817.
    116. Gietl, Daniel, 2018. "Overconfidence and Bailouts," Rationality and Competition Discussion Paper Series 132, CRC TRR 190 Rationality and Competition.
    117. Jiang, Danling, 2013. "The second moment matters! Cross-sectional dispersion of firm valuations and expected returns," Journal of Banking & Finance, Elsevier, vol. 37(10), pages 3974-3992.
    118. Yarovaya, Larisa & Zięba, Damian, 2022. "Intraday volume-return nexus in cryptocurrency markets: Novel evidence from cryptocurrency classification," Research in International Business and Finance, Elsevier, vol. 60(C).
    119. Belhadj Hana & Ben Hamad Salah, 2026. "Overconfidence bias: explaining Bitcoin’s market anomalies," SN Business & Economics, Springer, vol. 6(1), pages 1-12, January.
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    Cited by:

    1. Chaiyuth Padungsaksawasdi & Sirimon Treepongkaruna & Robert Brooks, 2019. "Investor Attention and Stock Market Activities: New Evidence from Panel Data," IJFS, MDPI, vol. 7(2), pages 1-19, June.
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    243. Li, Wei & Rhee, Ghon & Wang, Steven Shuye, 2017. "Differences in herding: Individual vs. institutional investors," Pacific-Basin Finance Journal, Elsevier, vol. 45(C), pages 174-185.
    244. Liang, Chao & Wang, Lu & Duong, Duy, 2024. "More attention and better volatility forecast accuracy: How does war attention affect stock volatility predictability?," Journal of Economic Behavior & Organization, Elsevier, vol. 218(C), pages 1-19.
    245. Chen, Chen & Stivers, Chris & Sun, Licheng, 2024. "Short-term momentum and reversals, turnover, and a stock’s price-to-52-week-high ratio," Journal of Empirical Finance, Elsevier, vol. 79(C).
    246. Bodnaruk, Andriy & Ostberg, Per, 2009. "Does investor recognition predict returns?," Journal of Financial Economics, Elsevier, vol. 91(2), pages 208-226, February.
    247. Tantaopas, Parkpoom & Padungsaksawasdi, Chaiyuth & Treepongkaruna, Sirimon, 2016. "Attention effect via internet search intensity in Asia-Pacific stock markets," Pacific-Basin Finance Journal, Elsevier, vol. 38(C), pages 107-124.
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    249. Wang, Chen & Shen, Dehua & Li, Youwei, 2022. "Aggregate Investor Attention and Bitcoin Return: The Long Short-term Memory Networks Perspective," Finance Research Letters, Elsevier, vol. 49(C).
    250. Hyun Jung Rim & Jenny Zha Giedt, 2026. "Mistaking bad news for good news: investor optimism and mispricing of strategic alternatives announcements," Review of Accounting Studies, Springer, vol. 31(1), pages 167-209, March.
    251. Lee, Chia-Hao & Chou, Pei-I, 2019. "Information dissemination and investors’ sensitivity," The Quarterly Review of Economics and Finance, Elsevier, vol. 74(C), pages 242-250.
    252. Gang Chu & Xiao Li & Dehua Shen & Yongjie Zhang, 2021. "Stock Crashes and Jumps Reactions to Information Demand and Supply: An Intraday Analysis," Asia-Pacific Financial Markets, Springer;Japanese Association of Financial Economics and Engineering, vol. 28(3), pages 397-427, September.
    253. Verhoeks, Ralph C. & Verschoor, Willem F.C. & Zwinkels, Remco C.J., 2025. "Investor attention and stock markets dynamics: Evidence from the COVID-19 pandemic," Journal of Behavioral and Experimental Finance, Elsevier, vol. 48(C).
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Articles

  1. Bruce Ian Carlin & Simon Gervais & Gustavo Manso, 2013. "Libertarian Paternalism, Information Production, and Financial Decision Making," The Review of Financial Studies, Society for Financial Studies, vol. 26(9), pages 2204-2228.

    Cited by:

    1. Butt, Adam & Donald, M. Scott & Foster, F. Douglas & Thorp, Susan & Warren, Geoffrey J., 2018. "One size fits all? Tailoring retirement plan defaults," Journal of Economic Behavior & Organization, Elsevier, vol. 145(C), pages 546-566.
    2. Binder, Martin & Lades, Leonhard K, 2014. "Autonomy-enhancing paternalism," SIRE Discussion Papers 2015-02, Scottish Institute for Research in Economics (SIRE).
    3. Conrado Cuevas & Dan Bernhardt & Mario Sanclemente, 2023. "Followers of the pied piper of pensioners," Canadian Journal of Economics/Revue canadienne d'économique, John Wiley & Sons, vol. 56(4), pages 1517-1550, November.
    4. Jonathan D. Ketcham & Nicolai V. Kuminoff & Christopher A. Powers, 2016. "Estimating the Heterogeneous Welfare Effects of Choice Architecture: An Application to the Medicare Prescription Drug Insurance Market," NBER Working Papers 22732, National Bureau of Economic Research, Inc.
    5. Sandro Ambuehl & B. Douglas Bernheim & Axel Ockenfels, 2019. "Projective Paternalism," CESifo Working Paper Series 7762, CESifo.
    6. Asen Ivanov, 2021. "Optimal pension plan default policies when employees are biased," Journal of Public Economic Theory, Association for Public Economic Theory, vol. 23(3), pages 583-596, June.
    7. Mitchell, O.S. & Piggott, J., 2016. "Workplace-Linked Pensions for an Aging Demographic," Handbook of the Economics of Population Aging, in: Piggott, John & Woodland, Alan (ed.), Handbook of the Economics of Population Aging, edition 1, volume 1, chapter 0, pages 865-904, Elsevier.
    8. Alexander K. Koch & Dan Mønster & Julia Nafziger, 2023. "Nudging in complex environments," Economics Working Papers 2023-06, Department of Economics and Business Economics, Aarhus University.
    9. Thorp, S. & Bateman, H. & Dobrescu, L.I. & Newell, B.R. & Ortmann, A., 2020. "Flicking the switch: Simplifying disclosure to improve retirement plan choices," Journal of Banking & Finance, Elsevier, vol. 121(C).
    10. Gebhard Kirchgässner, 2014. "Soft Paternalism, Merit Goods, and Normative Individualism," CESifo Working Paper Series 4688, CESifo.
    11. Altmann, Steffen & Grunewald, Andreas & Radbruch, Jonas, 2019. "Passive Choices and Cognitive Spillovers," IZA Discussion Papers 12337, IZA Network @ LISER.
    12. Asen Ivanov, 2018. "Optimal Default Policies in Defined Contribution Pension Plans when Employees are Biased," Working Papers 858, Queen Mary University of London, School of Economics and Finance.
    13. Wagner, Valentin, 2022. "Heterogeneous effects of grade framing," Labour Economics, Elsevier, vol. 74(C).
    14. John Chalmers & Olivia S. Mitchell & Jonathan Reuter & Mingli Zhong, 2021. "Auto-Enrollment Retirement Plans in OregonSaves," Working Papers wp425, University of Michigan, Michigan Retirement Research Center.
    15. John Chalmers & Olivia S. Mitchell & Jonathan Reuter & Mingli Zhong, 2021. "Auto-Enrollment Retirement Plans for the People: Choices and Outcomes in OregonSaves," NBER Working Papers 28469, National Bureau of Economic Research, Inc.
    16. Brown, Jeffrey R. & Farrell, Anne M. & Weisbenner, Scott J., 2016. "Decision-making approaches and the propensity to default: Evidence and implications," Journal of Financial Economics, Elsevier, vol. 121(3), pages 477-495.
    17. Paula-Elena DIACON, 2015. "Some Psychological Causes Of The Financial Crisis," CES Working Papers, Centre for European Studies, Alexandru Ioan Cuza University, vol. 7(2), pages 276-287, August.
    18. Tse, Alan & Friesen, Lana & Kalaycı, Kenan, 2016. "Complexity and asset legitimacy in retirement investment," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 60(C), pages 35-48.

  2. Bruce Ian Carlin & Simon Gervais, 2012. "Legal Protection in Retail Financial Markets," The Review of Corporate Finance Studies, Society for Financial Studies, vol. 1(1), pages 68-108.
    See citations under working paper version above.
  3. Simon Gervais & J. B. Heaton & Terrance Odean, 2011. "Overconfidence, Compensation Contracts, and Capital Budgeting," Journal of Finance, American Finance Association, vol. 66(5), pages 1735-1777, October.

    Cited by:

    1. Cortés, Kristle & Duchin, Ran & Sosyura, Denis, 2016. "Clouded judgment: The role of sentiment in credit origination," Journal of Financial Economics, Elsevier, vol. 121(2), pages 392-413.
    2. Andreas Haufler & Yukihiro Nishimura, 2020. "Taxing Mobile and Overconfident Top Earners," CESifo Working Paper Series 8550, CESifo.
    3. Deshmukh, Sanjay & Goel, Anand M. & Howe, Keith M., 2021. "Do CEO beliefs affect corporate cash holdings?," Journal of Corporate Finance, Elsevier, vol. 67(C).
    4. Anwer S. Ahmed & Scott Duellman, 2013. "Managerial Overconfidence and Accounting Conservatism," Journal of Accounting Research, John Wiley & Sons, Ltd., vol. 51(1), pages 1-30, March.
    5. Marco Bade & Hans Hirth, 2025. "How underinvestment reduces underpricing," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 30(2), pages 1689-1706, April.
    6. Luo, Yating & Zhang, Naiqian & Tong, Tong & Jia, Xiaofei, 2025. "Unveiling the four-pillar framework: Machine learning evidence on personality, firm, governance, and financial origins of managerial overconfidence in China," Pacific-Basin Finance Journal, Elsevier, vol. 92(C).
    7. Hao, Ying & Huang, Yuxiu & Cui, Xuegang & Liu, Qiang & Zhang, Yuwen, 2021. "CEO experience and corporate financing decisions: Evidence from a natural experiment in China," China Economic Review, Elsevier, vol. 70(C).
    8. Jin, Yige & Dong, Nanyan & Tian, Gaoliang & Zhang, Junrui, 2023. "Wisdom of the masses: Employee education and corporate risk taking," Economic Modelling, Elsevier, vol. 118(C).
    9. Chen, Si & Schildberg-Hörisch, Hannah, 2019. "Looking at the bright side: The motivational value of confidence," European Economic Review, Elsevier, vol. 120(C).
    10. Ge, Li & Jamil, Taher & Yu, Jin, 2024. "CEO overconfidence and the choice of debt issuance," Journal of Banking & Finance, Elsevier, vol. 161(C).
    11. Chen, Ying & Nakagawa, Kei & Kimura, Yosuke & Inoue, Kotaro, 2025. "Are managerial cognitive biases priced in Japan? Evidence from cross-sectional portfolio returns," Finance Research Letters, Elsevier, vol. 85(PB).
    12. Jain, Tarun & Hazra, Jishnu & Cheng, T.C.E., 2018. "Sourcing under overconfident buyer and suppliers," International Journal of Production Economics, Elsevier, vol. 206(C), pages 93-109.
    13. Jiang Cheng & Hung-Gay Fung & Tzu-Ting Lin & Min-Ming Wen, 2024. "CEO optimism and the use of credit default swaps: evidence from the US life insurance industry," Review of Quantitative Finance and Accounting, Springer, vol. 63(1), pages 169-194, July.
    14. Aktas, Nihat & Louca, Christodoulos & Petmezas, Dimitris, 2019. "CEO overconfidence and the value of corporate cash holdings," Journal of Corporate Finance, Elsevier, vol. 54(C), pages 85-106.
    15. Kim, Hwa-Sung, 2019. "Effects of CEO miscalibration on compensation and hedging," Finance Research Letters, Elsevier, vol. 30(C), pages 216-220.
    16. Liang, Shangkun & Niu, Yuhao & Xin, Fu & Jiang, Lixian, 2024. "CEO foreign experience and corporate financial investment," International Review of Economics & Finance, Elsevier, vol. 93(PA), pages 929-946.
    17. Guo, Peng & Jiang, Fuwei & Li, Mengru & Liu, Yumin, 2024. "Managerial macroeconomic perception and systemic risk in China," Pacific-Basin Finance Journal, Elsevier, vol. 88(C).
    18. André Betzer & Inga Bongard & Felix Schweder & Erik Theissen & Christine Volkmann, 2023. "All is not lost that is delayed: overconfidence and investment outcomes," Review of Managerial Science, Springer, vol. 17(7), pages 2297-2324, October.
    19. Ulrike Malmendier & Vincenzo Pezone & Hui Zheng, 2023. "Managerial Duties and Managerial Biases," Management Science, INFORMS, vol. 69(6), pages 3174-3201, June.
    20. Anilov, Artem & Ivashkovskaya, Irina, 2025. "How to incentivize CEOs to boost payouts? The role of inside debt," Journal of Economics and Business, Elsevier, vol. 136(C).
    21. Clara Graziano & Annalisa Luporini, 2022. "Do Firms Gain from Managerial Overconfidence? The Role of Severance Pay," CESifo Working Paper Series 9801, CESifo.
    22. Justin Downs, 2021. "Information gathering by overconfident agents," Journal of Economics & Management Strategy, Wiley Blackwell, vol. 30(3), pages 554-568, August.
    23. Croci, Ettore & Petmezas, Dimitris, 2015. "Do risk-taking incentives induce CEOs to invest? Evidence from acquisitions," Journal of Corporate Finance, Elsevier, vol. 32(C), pages 1-23.
    24. Liao, Shushu & Nguyen, Nhut H. & Truong, Cameron, 2024. "Does CEO extraversion pay off when in need? Evidence from the global financial crisis," The British Accounting Review, Elsevier, vol. 56(4).
    25. Bird, Robert C. & Borochin, Paul A. & Knopf, John D., 2015. "The role of the chief legal officer in corporate governance," Journal of Corporate Finance, Elsevier, vol. 34(C), pages 1-22.
    26. Ho, Po-Hsin & Huang, Chia-Wei & Lin, Chih-Yung & Yen, Ju-Fang, 2016. "CEO overconfidence and financial crisis: Evidence from bank lending and leverage," Journal of Financial Economics, Elsevier, vol. 120(1), pages 194-209.
    27. Lu, Jing & Ho, Keng-Yu & Ho, Po-Hsin & Ko, Kuan-Cheng, 2023. "CEO overconfidence, lottery preference and the cross-section of stock returns," Finance Research Letters, Elsevier, vol. 54(C).
    28. Tran, Tam & Wilson, Craig & Yang, Fan, 2025. "Executive overconfidence, corporate investment, and institutional ownership: Evidence from Vietnam," Emerging Markets Review, Elsevier, vol. 68(C).
    29. Prokudina, Elena & Renneboog, Luc & Tobler, Philippe, 2015. "Does Confidence Predict Out-of-Domain Effort?," Other publications TiSEM 2a1830fc-471f-45a3-b9b0-a, Tilburg University, School of Economics and Management.
    30. Sen, Rik & Tumarkin, Robert, 2015. "Stocking up: Executive optimism, option exercise, and share retention," Journal of Financial Economics, Elsevier, vol. 118(2), pages 399-430.
    31. Aili Zhang & Yumeng Gong & Qiuyue Chen & Xu Jin & Yancheng Mu & Yi Lu, 2025. "Driving Innovation and Sustainable Development in Cultural Heritage Education Through Digital Transformation: The Role of Interactive Technologies," Sustainability, MDPI, vol. 17(1), pages 1-32, January.
    32. Hendrik Hakenes & Svetlana Katolnik, 2018. "Optimal Team Size and Overconfidence," Group Decision and Negotiation, Springer, vol. 27(4), pages 665-687, August.
    33. Zahra Murad & Martin Sefton & Chris Starmer, 2016. "How do risk attitudes affect measured confidence?," Journal of Risk and Uncertainty, Springer, vol. 52(1), pages 21-46, February.
    34. Le, Anh-Tuan & Doan, Anh-Tuan & Lin, Kun-Li, 2024. "CEO overconfidence and the informativeness of bank stock prices," International Review of Financial Analysis, Elsevier, vol. 94(C).
    35. Hédia Fourati & Rihab Ben Attitalah, 2018. "Entrepreneurial Optimism, The Nature Of Entrepreneurial Experience And Debt Decision For Business Start-Up," International Journal of Innovation Management (ijim), World Scientific Publishing Co. Pte. Ltd., vol. 22(03), pages 1-26, April.
    36. Cook, Douglas O. & Chowdhury, Jaideep & Zhang, Weiwei, 2023. "Director optimism and CEO equity compensation," Journal of Empirical Finance, Elsevier, vol. 72(C), pages 143-162.
    37. Anilov, Artem & Ivashkovskaya, Irina, 2025. "On compensation incentives, managerial overconfidence, and payout policy," Finance Research Letters, Elsevier, vol. 85(PB).
    38. Cao, Guohua & Geng, Wenjun & Zhang, Jing & Yuan, Yongqi, 2024. "Overconfidence, short selling, and corporate fraud: Evidence from China," The Quarterly Review of Economics and Finance, Elsevier, vol. 97(C).
    39. Mao-Wei Hung & Wen-Hsin Tsai, 2020. "Managerial optimism, CEO retention, and corporate performance: evidence from bankruptcy-filing firms," Journal of Economics and Finance, Springer;Academy of Economics and Finance, vol. 44(3), pages 506-527, July.
    40. McCarthy, Scott & Oliver, Barry & Song, Sizhe, 2017. "Corporate social responsibility and CEO confidence," Journal of Banking & Finance, Elsevier, vol. 75(C), pages 280-291.
    41. Gietl, Daniel, 2018. "Overconfidence and Bailouts," Rationality and Competition Discussion Paper Series 132, CRC TRR 190 Rationality and Competition.
    42. Bassem Salhi, 2021. "RETRACTED: The Relationship between CEO Psychological Biases, Corporate Governance and Corporate Social Responsibility," JRFM, MDPI, vol. 14(7), pages 1-19, July.
    43. Hela Namouri & Fredj Jawadi & Zied Ftiti & Néjib Hachicha, 2018. "Threshold effect in the relationship between investor sentiment and stock market returns: a PSTR specification," Applied Economics, Taylor & Francis Journals, vol. 50(5), pages 559-573, January.
    44. Lai, Yi-Hsun & Tai, Vivian W., 2019. "Managerial overconfidence and directors' and officers' liability insurance," Pacific-Basin Finance Journal, Elsevier, vol. 57(C).
    45. de la Rosa, Leonidas Enrique & Lambertsen, Nikolaj Niebuhr, 2025. "Overconfidence and moral hazard without commitment," Journal of Mathematical Economics, Elsevier, vol. 119(C).
    46. Adam, Tim R. & Burg, Valentin & Scheinert, Tobias & Streitz, Daniel, 2014. "Managerial Optimism and Debt Contract Design: The Case of Syndicated Loans," Discussion Paper Series of SFB/TR 15 Governance and the Efficiency of Economic Systems 475, Free University of Berlin, Humboldt University of Berlin, University of Bonn, University of Mannheim, University of Munich.
    47. Gurdgiev, Constantin & Ni, Qiuxin, 2023. "Board diversity: Moderating effects of CEO overconfidence on firm financing decisions," Journal of Behavioral and Experimental Finance, Elsevier, vol. 37(C).
    48. Kim, Y. Han (Andy) & Park, Junho & Shin, Hojong, 2022. "CEO facial masculinity, fraud, and ESG: Evidence from South Korea," Emerging Markets Review, Elsevier, vol. 53(C).
    49. Marc Kowalzick & Jan‐Philipp Ahrens & Jochim G. Lauterbach & Yi Tang, 2024. "Overconfident CEOs in Dire Straits: How Incumbent and Successor CEOs’ Overconfidence Affects Firm Turnaround Performance," Journal of Management Studies, Wiley Blackwell, vol. 61(5), pages 1985-2032, July.
    50. Ben Amor, Salma & Kooli, Maher, 2024. "Does overconfidence affect venture capital firms’ investment?," Journal of Behavioral and Experimental Finance, Elsevier, vol. 41(C).
    51. Citci, Sadettin Haluk & Inci, Eren, 2016. "Career concerns and Bayesian overconfidence of managers," International Journal of Industrial Organization, Elsevier, vol. 46(C), pages 137-159.
    52. Yenn‐Ru Chen & Tuck Siong Chung & Chia‐Hsien Lin & Angie Low, 2024. "When do stock options affect CEO risk‐taking? The moderating role of CEO regulatory focus," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 51(7-8), pages 1724-1761, July.
    53. Beber, Alessandro & Fabbri, Daniela, 2012. "Who times the foreign exchange market? Corporate speculation and CEO characteristics," Journal of Corporate Finance, Elsevier, vol. 18(5), pages 1065-1087.
    54. Zhou, Deqing, 2015. "The virtue of overconfidence when you are not perfectly informed," Economic Modelling, Elsevier, vol. 47(C), pages 105-110.
    55. Liu, Jie & Yang, Yang & Yu, Yugang, 2021. "Ordering and interest rate strategies in platform finance with an overconfident and commerce retailer," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 153(C).
    56. Monica Neamtiu & Nemit Shroff & Hal D. White & Christopher D. Williams, 2014. "The Impact of Ambiguity on Managerial Investment and Cash Holdings," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 41(7-8), pages 1071-1099, September.
    57. Kai-Yin Woo & Chulin Mai & Michael McAleer & Wing-Keung Wong, 2020. "Review on Efficiency and Anomalies in Stock Markets," Economies, MDPI, vol. 8(1), pages 1-51, March.
    58. Grinstein, Yaniv & Lauterbach, Beni & Yosef, Revital, 2022. "Benchmarking of pay components in CEO compensation design," Journal of Corporate Finance, Elsevier, vol. 77(C).
    59. Marius Guenzel & Ulrike Malmendier, 2020. "Behavioral Corporate Finance: The Life Cycle of a CEO Career," NBER Working Papers 27635, National Bureau of Economic Research, Inc.
    60. H. Young Baek & Florence Neymotin, 2019. "Overconfident entrepreneurs: Innovating more and paying the piper," Economics Bulletin, AccessEcon, vol. 39(2), pages 1144-1153.
    61. Chen, Sheng-Syan & Ho, Keng-Yu & Ho, Po-Hsin & Nie, Wei-Ying, 2022. "CEO overconfidence and bondholder wealth effects: Evidence from mergers and acquisitions," Journal of Corporate Finance, Elsevier, vol. 77(C).
    62. Otto, Clemens A., 2014. "CEO optimism and incentive compensation," Journal of Financial Economics, Elsevier, vol. 114(2), pages 366-404.
    63. Athanasakou, Vasiliki & Ferreira, Daniel & Goh, Lisa, 2022. "Changes in CEO stock option grants: A look at the numbers," Journal of Corporate Finance, Elsevier, vol. 75(C).
    64. Gete, Pedro & Gomez, Juan Pedro, 2017. "Dealing with Overleverage: Restricting Leverage vs. Restricting Variable Compensation," MPRA Paper 80642, University Library of Munich, Germany.
    65. Phua, Kenny & Tham, T. Mandy & Wei, Chishen, 2018. "Are overconfident CEOs better leaders? Evidence from stakeholder commitments," Journal of Financial Economics, Elsevier, vol. 127(3), pages 519-545.
    66. Francesco Cecchi & Tinka Koster & Robert Lensink, 2021. "Liquidity defaults and progressive lending in microfinance: A lab‐in‐the field experiment in Bolivia," Review of Development Economics, Wiley Blackwell, vol. 25(4), pages 2013-2030, November.
    67. Pour, Eilnaz Kashefi & Uddin, Moshfique & Murinde, Victor & Amini, Shima, 2023. "CEO power, bank risk-taking and national culture: International evidence," Journal of Financial Stability, Elsevier, vol. 67(C).
    68. Huang, Ronghong & Tan, Kelvin Jui Keng & Faff, Robert W., 2016. "CEO overconfidence and corporate debt maturity," Journal of Corporate Finance, Elsevier, vol. 36(C), pages 93-110.
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    1. Cerezo Sánchez, David, 2017. "An Optimal ICO Mechanism," MPRA Paper 81285, University Library of Munich, Germany.
    2. Lakicevic, Milan & Shachmurove, Yochanan & Vulanovic, Milos, 2013. "Institutional changes of SPACs," EconStor Preprints 68589, ZBW - Leibniz Information Centre for Economics.

  5. Bruce Ian Carlin & Simon Gervais, 2009. "Work Ethic, Employment Contracts, and Firm Value," Journal of Finance, American Finance Association, vol. 64(2), pages 785-821, April.

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    2. Jan Tichem, 2013. "Endogenous Effort Norms in Hierarchical Firms," Tinbergen Institute Discussion Papers 13-198/VII, Tinbergen Institute.
    3. Liang, H. & Renneboog, Luc & Vansteenkiste, Cara, 2017. "Corporate Employee-Engagement and Merger Outcomes," Discussion Paper 2017-011, Tilburg University, Center for Economic Research.
    4. Byun, Seong, 2022. "The role of intrinsic incentives and corporate culture in motivating innovation," Journal of Banking & Finance, Elsevier, vol. 134(C).
    5. Alex Edmans & Tom Gosling & Dirk Jenter, 2021. "CEO Compensation: Evidence from the Field," CESifo Working Paper Series 9162, CESifo.
    6. Eddy Cardinaels & Naomi Soderstrom, 2013. "Managing in a Complex World: Accounting and Governance Choices in Hospitals," European Accounting Review, Taylor & Francis Journals, vol. 22(4), pages 647-684, December.
    7. Quentin Dupont & Jonathan M. Karpoff, 2020. "The Trust Triangle: Laws, Reputation, and Culture in Empirical Finance Research," Journal of Business Ethics, Springer, vol. 163(2), pages 217-238, May.
    8. Jean-Etienne de Bettignies & David T. Robinson, 2018. "When Is Social Responsibility Socially Desirable?," Journal of Labor Economics, University of Chicago Press, vol. 36(4), pages 1023-1072.
    9. Kuhnen, Camelia M. & Niessen-Ruenzi, Alexandra, 2008. "Is Executive Compensation Shaped by Public Attitudes?," CFR Working Papers 08-09, University of Cologne, Centre for Financial Research (CFR).
    10. Fauver, Larry & McDonald, Michael B. & Taboada, Alvaro G., 2018. "Does it pay to treat employees well? International evidence on the value of employee-friendly culture," Journal of Corporate Finance, Elsevier, vol. 50(C), pages 84-108.
    11. Barnes, Spencer & Cheng, Yingmei, 2023. "Employee approval of CEOs and firm value: Evidence from Employees' choice awards," Journal of Corporate Finance, Elsevier, vol. 78(C).
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    13. Macias, Antonio & Pirinsky, Christo, 2015. "Employees and the market for corporate control," Journal of Corporate Finance, Elsevier, vol. 31(C), pages 33-53.
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    15. Huang, Pinghsun & Huang, Hsin-Yi & Zhang, Yan, 2019. "Do firms hedge with foreign currency derivatives for employees?," Journal of Financial Economics, Elsevier, vol. 133(2), pages 418-440.
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    17. Thomas Bauer & Franz Wirl, 2021. "Incentivizing by example and money," Central European Journal of Operations Research, Springer;Slovak Society for Operations Research;Hungarian Operational Research Society;Czech Society for Operations Research;Österr. Gesellschaft für Operations Research (ÖGOR);Slovenian Society Informatika - Section for Operational Research;Croatian Operational Research Society, vol. 29(1), pages 89-111, March.
    18. Lindbeck, Assar & Weibull, Jörgen, 2015. "Pay Schemes, Bargaining, and Competition for Talent," Working Paper Series 1100, Research Institute of Industrial Economics.
    19. Arce, Daniel G., 2013. "Principals’ preferences for agents with social preferences," Journal of Economic Behavior & Organization, Elsevier, vol. 90(C), pages 154-163.
    20. Carlin, Bruce Ian & Dorobantu, Florin & Viswanathan, S., 2009. "Public trust, the law, and financial investment," Journal of Financial Economics, Elsevier, vol. 92(3), pages 321-341, June.
    21. Guilong Cai & Wenfei Li & Zhenyang Tang, 2020. "Religion and the Method of Earnings Management: Evidence from China," Journal of Business Ethics, Springer, vol. 161(1), pages 71-90, January.
    22. Thanassoulis, John, 2018. "The I.O. of ethics and cheating when consumers do not have rational expectations," CEPR Discussion Papers 13172, Centre for Economic Policy Research.
    23. Ales Cornanic & Jiri Novak & Jan Sarapatka, 2018. "Religion, Corporate Governance, and Executive Compensation," Czech Journal of Economics and Finance (Finance a uver), Charles University Prague, Faculty of Social Sciences, vol. 68(1), pages 34-70, February.
    24. Mine Ertugrul, 2013. "Employee-Friendly Acquirers And Acquisition Performance," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 36(3), pages 347-370, September.
    25. Arindam Das & Dimple Grover, 2022. "Ethical climates in South Asian Organizations: empirical findings from India," SN Business & Economics, Springer, vol. 2(6), pages 1-26, June.
    26. Bruce I. Carlin & Tarik Umar & Hanyi Yi, 2020. "Deputization," NBER Working Papers 27225, National Bureau of Economic Research, Inc.
    27. Edmans, Alex, 2011. "Does the stock market fully value intangibles? Employee satisfaction and equity prices," Journal of Financial Economics, Elsevier, vol. 101(3), pages 621-640, September.
    28. Bond, Philip & Dow, James, 2021. "Failing to forecast rare events," Journal of Financial Economics, Elsevier, vol. 142(3), pages 1001-1016.
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  6. Simon Gervais & Itay Goldstein, 2007. "The Positive Effects of Biased Self-Perceptions in Firms," Review of Finance, European Finance Association, vol. 11(3), pages 453-496.

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    1. Jacober, Noëmi & Santos-Pinto, Luís, 2026. "Less risk, more effort: How overconfidence reshapes tournament strategies," Mathematical Social Sciences, Elsevier, vol. 139(C).
    2. Chen, Si & Schildberg-Hörisch, Hannah, 2019. "Looking at the bright side: The motivational value of confidence," European Economic Review, Elsevier, vol. 120(C).
    3. Zehnder, Christian & Herz, Holger & Bonardi, Jean-Philippe, 2016. "A productive clash of cultures : injecting economics into leadership research," FSES Working Papers 478, Faculty of Economics and Social Sciences, University of Freiburg/Fribourg Switzerland.
    4. Jain, Tarun & Hazra, Jishnu & Cheng, T.C.E., 2018. "Sourcing under overconfident buyer and suppliers," International Journal of Production Economics, Elsevier, vol. 206(C), pages 93-109.
    5. Santos-Pinto, Luís & Sekeris, Petros G., 2025. "How confidence heterogeneity shapes effort and performance in tournaments and contests," Journal of Mathematical Economics, Elsevier, vol. 116(C).
    6. Ulrike Malmendier & Vincenzo Pezone & Hui Zheng, 2023. "Managerial Duties and Managerial Biases," Management Science, INFORMS, vol. 69(6), pages 3174-3201, June.
    7. Sandra Ludwig & Julia Nafziger, 2011. "Beliefs about overconfidence," Theory and Decision, Springer, vol. 70(4), pages 475-500, April.
    8. Petra Nieken & Abdolkarim Sadrieh & Nannan Zhou, 2025. "Responsibility Hoarding by Overconfident Managers," Games, MDPI, vol. 16(4), pages 1-24, July.
    9. Vanessa Mertins & Wolfgang Hoffeld, 2013. "Do Overconfident Workers Cooperate Less? The Relationship between Overconfidence and Cooperation in Team Production," IAAEU Discussion Papers 201313, Institute of Labour Law and Industrial Relations in the European Union (IAAEU).
    10. Hendrik Hakenes & Svetlana Katolnik, 2018. "Optimal Team Size and Overconfidence," Group Decision and Negotiation, Springer, vol. 27(4), pages 665-687, August.
    11. Bo, Wang & Suli, Zheng, 2023. "Optimal overconfidence in the presence of information manipulation," Economics Letters, Elsevier, vol. 231(C).
    12. Skarzhinskaya, E. & Tzurikov, V., 2023. "The endogenous formation of leadership in collective actions using the modified timing decisions algorithm," Journal of the New Economic Association, New Economic Association, vol. 61(4), pages 51-68.
    13. Jian Wang & Xintian Zhuang & Jun Yang & Jiliang Sheng, 2014. "The effects of optimism bias in teams," Applied Economics, Taylor & Francis Journals, vol. 46(32), pages 3980-3994, November.
    14. Clemens Buchen & Alberto Palermo, 2022. "Adverse Selection, Heterogeneous Beliefs, and Evolutionary Learning," Dynamic Games and Applications, Springer, vol. 12(2), pages 343-362, June.
    15. Chen, Si & Schildberg-Hörisch, Hannah, 2018. "Looking at the bright side: The motivation value of overconfidence," DICE Discussion Papers 291, Heinrich Heine University Düsseldorf, Düsseldorf Institute for Competition Economics (DICE).
    16. Puri, Manju & Robinson, David T., 2007. "Optimism and economic choice," Journal of Financial Economics, Elsevier, vol. 86(1), pages 71-99, October.
    17. Leonidas Enrique De La Rosa, 2008. "Overconfidence in a Career-Concerns Setting," CESifo Working Paper Series 2405, CESifo.
    18. Prokudina, Elena & Renneboog, Luc & Tobler, Philippe, 2015. "Does Confidence Predict Out-of-Domain Effort?," Discussion Paper 2015-055, Tilburg University, Center for Economic Research.
    19. Nadiah Amirah Nor Azhari & Suhaily Hasnan & Zuraidah Mohd Sanusi, 2020. "The Relationships Between Managerial Overconfidence, Audit Committee, CEO Duality and Audit Quality and Accounting Misstatements," International Journal of Financial Research, International Journal of Financial Research, Sciedu Press, vol. 11(3), pages 18-30, June.
    20. Otto, Clemens A., 2014. "CEO optimism and incentive compensation," Journal of Financial Economics, Elsevier, vol. 114(2), pages 366-404.
    21. Clemens Buchen & Alberto Palermo, 2020. "A biased firm in a market with complementary products. A note on the welfare effects," Scottish Journal of Political Economy, Scottish Economic Society, vol. 67(4), pages 448-453, September.
    22. Despina Gavresi & Anastasia Litina & Christos A. Makridis, 2021. "Split Personalities? Behavioral Effects of Temperature on Financial Decision-making," Discussion Paper Series 2021_16, Department of Economics, University of Macedonia, revised Nov 2021.
    23. Suman Banerjee & Shiyang Huang & Vikram Nanda & Steven Chong Xiao, 2023. "Managerial Overconfidence and Market Feedback Effects," Management Science, INFORMS, vol. 69(12), pages 7285-7305, December.
    24. Pikulina, Elena & Renneboog, Luc & Tobler, Philippe N., 2017. "Overconfidence and investment: An experimental approach," Journal of Corporate Finance, Elsevier, vol. 43(C), pages 175-192.
    25. Brookins, Philip & Lucas, Adriana & Ryvkin, Dmitry, 2014. "Reducing within-group overconfidence through group identity and between-group confidence judgments," Journal of Economic Psychology, Elsevier, vol. 44(C), pages 1-12.
    26. Meng-Ju Wu & Chung-Hsien Hung & Yuan Chang, 2026. "Directors’ and Officers’ Liability Insurance, Directors’ and Managerial Overconfidence, and ESG Performance," Journal of Applied Finance & Banking, SCIENPRESS Ltd, vol. 16(1), pages 1-5.
    27. Bozhidar Nedev & Ivanka Mihaylova, 2026. "An Empirical Study of Behavioral Biases in Conflict Resolution in the Bulgarian Service Sector," Economic Studies journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 2, pages 132-156.
    28. Hao Hong & Tsz-Ning Wong, 2020. "Authoritarian election as an incentive scheme," Journal of Theoretical Politics, , vol. 32(3), pages 460-493, July.
    29. Adrian Bruhin & Fidel Petros & Luís Santos-Pinto, 2024. "The role of self-confidence in teamwork: experimental evidence," Experimental Economics, Springer;Economic Science Association, vol. 27(3), pages 687-712, July.
    30. Yanchun Jin & Ryo Okui, 2018. "Testing for Overconfidence Statistically: A Moment Inequality Approach," KIER Working Papers 984, Kyoto University, Institute of Economic Research.
    31. Pierre Fleckinger & David Martimort & Nicolas Roux, 2024. "Should They Compete or Should They Cooperate? The View of Agency Theory," Journal of Economic Literature, American Economic Association, vol. 62(4), pages 1589-1646, December.
    32. Berno Buechel & Stefan Klößner & Martin Lochmüller & Heiko Rauhut, 2020. "The strength of weak leaders: an experiment on social influence and social learning in teams," Experimental Economics, Springer;Economic Science Association, vol. 23(2), pages 259-293, June.
    33. Huffman, David B. & Raymond, Collin & Shvets, Julia, 2023. "Persistent Overconfidence and Biased Memory: Evidence from Managers," IZA Discussion Papers 16283, IZA Network @ LISER.
    34. Isabelle Vialle & Luis Santos-Pinto & Jean-Louis Rullière, 2011. "Self-Confidence and Teamwork : An Experimental Test," Working Papers 1126, Groupe d'Analyse et de Théorie Economique Lyon St-Etienne (GATE Lyon St-Etienne), Université de Lyon.
    35. Downs, Justin, 2024. "Screening, overconfidence, and competition’s effect on market efficiency," Journal of Economic Behavior & Organization, Elsevier, vol. 226(C).
    36. Nikolaos Loukeris & Iordanis Eleftheriadis & Efstratios Livanis, 2025. "An Effective Investments System in the Optimal Portfolio Selection Intelligence (OPSI)," Computational Economics, Springer;Society for Computational Economics, vol. 66(6), pages 4589-4620, December.
    37. Itzhak Ben-David & Justin Birru & Viktor Prokopenya, 2016. "Uninformative Feedback and Risk Taking: Evidence from Retail Forex Trading," NBER Working Papers 22146, National Bureau of Economic Research, Inc.
    38. Pikulina, E.S. & Renneboog, L.D.R. & Tobler, P.N., 2014. "Overconfidence, Effort, and Investment (Revised version of CentER DP 2013-035)," Other publications TiSEM 0e3cc6fd-6847-4fe5-88da-d, Tilburg University, School of Economics and Management.
    39. Bernard Herskovic & Joao Ramos, 2016. "Acquiring information through peers," 2016 Meeting Papers 248, Society for Economic Dynamics.
    40. Ba, Cuimin & Gindin, Alice, 2023. "A multi-agent model of misspecified learning with overconfidence," Games and Economic Behavior, Elsevier, vol. 142(C), pages 315-338.
    41. Schrand, Catherine M. & Zechman, Sarah L.C., 2012. "Executive overconfidence and the slippery slope to financial misreporting," Journal of Accounting and Economics, Elsevier, vol. 53(1), pages 311-329.
    42. Morita, Kimiyuki & Muramoto, Akitoshi & Sogo, Takeharu, 2025. "Optimal contracts under interpersonal projection," Games and Economic Behavior, Elsevier, vol. 150(C), pages 356-364.
    43. Sergei Izmalkov & Muhamet Yildiz, 2010. "Investor Sentiments," American Economic Journal: Microeconomics, American Economic Association, vol. 2(1), pages 21-38, February.
    44. Thoma, Carmen, 2013. "Is Underconfidence Favored over Overconfidence? An Experiment on the Perception of a Biased Self-Assessment," Discussion Papers in Economics 17460, University of Munich, Department of Economics.
    45. Takao Asano & Takuma Kunieda & Akihisa Shibata, 2015. "Overconfidence, Underconfidence, and Welfare," Journal of Institutional and Theoretical Economics (JITE), Mohr Siebeck, Tübingen, vol. 171(2), pages 372-384, June.
    46. de la Rosa, Leonidas Enrique, 2011. "Overconfidence and moral hazard," Games and Economic Behavior, Elsevier, vol. 73(2), pages 429-451.
    47. Itzhak Ben-David & John R. Graham & Campbell R. Harvey, 2010. "Managerial Miscalibration," NBER Working Papers 16215, National Bureau of Economic Research, Inc.
    48. Luis Santos-Pinto & Tiago Pires, 2020. "Overconfidence and Timing of Entry," Games, MDPI, vol. 11(4), pages 1-19, October.
    49. Sewaid, Ahmed & Parker, Simon C. & Kaakeh, Abdulkader, 2021. "Explaining serial crowdfunders' dynamic fundraising performance," Journal of Business Venturing, Elsevier, vol. 36(4).
    50. Bond, Philip & Newman, Andrew F., 2009. "Prohibitions on punishments in private contracts," Journal of Financial Intermediation, Elsevier, vol. 18(4), pages 526-540, October.
    51. Itzhak Ben-David & John R. Graham & Campbell R. Harvey, 2007. "Managerial Overconfidence and Corporate Policies," NBER Working Papers 13711, National Bureau of Economic Research, Inc.
    52. Skarzhinskaya, E. & Tsurikov, V., 2021. "Endogenous Stackelberg leadership within a team. The coalition effect," Journal of the New Economic Association, New Economic Association, vol. 49(1), pages 53-79.
    53. Alex Edmans & Itay Goldstein & John Y. Zhu, 2011. "Contracting With Synergies," NBER Working Papers 17606, National Bureau of Economic Research, Inc.
    54. Pikulina, Elena & Renneboog, Luc & Tobler, Philippe N., 2018. "Do confident individuals generally work harder?," Journal of Multinational Financial Management, Elsevier, vol. 44(C), pages 51-60.
    55. Alex Edmans & Xavier Gabaix, 2016. "Executive Compensation: A Modern Primer," Journal of Economic Literature, American Economic Association, vol. 54(4), pages 1232-1287, December.
    56. Steven N. Kaplan & Morten Sorensen, 2017. "Are CEOs Different? Characteristics of Top Managers," NBER Working Papers 23832, National Bureau of Economic Research, Inc.
    57. Shanglyu Deng & Hanming Fang & Qiang Fu & Zenan Wu, 2020. "Confidence Management in Tournaments," NBER Working Papers 27186, National Bureau of Economic Research, Inc.
    58. Muhammad Shahin Miah & Chowdhury Saima Ferdous & Aditi Shams & Md. Adnan Ahmed, 2025. "Business group affiliation, political connections and cost of debt: empirical evidence from an emerging market," SN Business & Economics, Springer, vol. 5(11), pages 1-29, November.
    59. Carmen Thoma, 2016. "Under- versus overconfidence: an experiment on how others perceive a biased self-assessment," Experimental Economics, Springer;Economic Science Association, vol. 19(1), pages 218-239, March.
    60. Sikdar, Shiva, 2015. "On efforts in teams with stereotypes," Economics Letters, Elsevier, vol. 137(C), pages 203-207.

  7. Simon Gervais & Anthony W. Lynch & David K. Musto, 2005. "Fund Families as Delegated Monitors of Money Managers," The Review of Financial Studies, Society for Financial Studies, vol. 18(4), pages 1139-1169.

    Cited by:

    1. Kaniel, Ron & Orlov, Dmitry, 2020. "Intermediated Asymmetric Information, Compensation, and Career Prospects," CEPR Discussion Papers 14586, Centre for Economic Policy Research.
    2. Agarwal, Vikas & Nada, Vikram & Ray, Sugata, 2013. "Institutional investment and intermediation in the hedge fund industry," CFR Working Papers 13-03, University of Cologne, Centre for Financial Research (CFR).
    3. Ping Hu & Jayant R. Kale & Marco Pagani & Ajay Subramanian, 2011. "Fund Flows, Performance, Managerial Career Concerns, and Risk Taking," Management Science, INFORMS, vol. 57(4), pages 628-646, April.
    4. Jian Wang & Xintian Zhuang & Jun Yang & Jiliang Sheng, 2014. "The effects of optimism bias in teams," Applied Economics, Taylor & Francis Journals, vol. 46(32), pages 3980-3994, November.
    5. Bessler, Wolfgang & Blake, David & Lückoff, Peter & Tonks, Ian, 2010. "Why does mutual fund performance not persist? The impact and interaction of fund flows and manager changes," MPRA Paper 34185, University Library of Munich, Germany.
    6. Khim, Veasna & Razafitombo, Hery, 2023. "Scale and skills in European active management: Impact of a new regulatory context," Journal of Banking & Finance, Elsevier, vol. 154(C).
    7. Johnson, Woodrow T., 2010. "Who incentivizes the mutual fund manager, new or old shareholders?," Journal of Financial Intermediation, Elsevier, vol. 19(2), pages 143-168, April.
    8. Richard Heaney, 2008. "Australian equity mutual fund size effects," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 48(5), pages 807-827, December.
    9. García, Diego & Vanden, Joel M., 2009. "Information acquisition and mutual funds," Journal of Economic Theory, Elsevier, vol. 144(5), pages 1965-1995, September.
    10. Agarwal, Vikas & Ma, Linlin & Mullally, Kevin, 2015. "Managerial multitasking in the mutual fund industry," CFR Working Papers 13-10 [rev.], University of Cologne, Centre for Financial Research (CFR).
    11. Keith Cuthbertson & Dirk Nitzsche & Niall O'Sullivan, 2010. "Mutual Fund Performance: Measurement and Evidence," Financial Markets, Institutions & Instruments, John Wiley & Sons, vol. 19(2), pages 95-187, May.
    12. Wolfgang Bessler & David Blake & Peter Lückoff & Ian Tonks, 2018. "Fund Flows, Manager Changes, and Performance Persistence [Does motivation matter when assessing trade performance? An analysis of mutual funds]," Review of Finance, European Finance Association, vol. 22(5), pages 1911-1947.
    13. Mason, Andrew & Agyei-Ampomah, Sam & Skinner, Frank, 2016. "Realism, skill, and incentives: Current and future trends in investment management and investment performance," International Review of Financial Analysis, Elsevier, vol. 43(C), pages 31-40.
    14. Gerald Abdesaken, 2019. "Conflicts of interest in multi-fund management," Journal of Asset Management, Palgrave Macmillan, vol. 20(1), pages 54-71, February.
    15. Livio Stracca, 2006. "Delegated Portfolio Management: A Survey Of The Theoretical Literature," Journal of Economic Surveys, Wiley Blackwell, vol. 20(5), pages 823-848, December.
    16. Agarwal, Vikas & Ma, Linlin, 2013. "Managerial multitasking in the mutual fund industry," CFR Working Papers 13-10, University of Cologne, Centre for Financial Research (CFR).
    17. Zambrana, Rafael & Zapatero, Fernando, 2021. "A tale of two types: Generalists vs. specialists in asset management," Journal of Financial Economics, Elsevier, vol. 142(2), pages 844-861.
    18. He, Zhiguo & Xiong, Wei, 2013. "Delegated asset management, investment mandates, and capital immobility," Journal of Financial Economics, Elsevier, vol. 107(2), pages 239-258.
    19. Zalewska, Anna (Ania) & Zhang, Yue, 2020. "Mutual funds' exits, financial crisis and Darwin," Journal of Corporate Finance, Elsevier, vol. 65(C).
    20. Clemens Sialm & T. Mandy Tham, 2011. "Spillover Effects in Mutual Fund Companies," NBER Working Papers 17292, National Bureau of Economic Research, Inc.
    21. Wang, Jian & Wang, Xiaoting & Zhuang, Xintian & Yang, Jun, 2017. "Optimism bias, portfolio delegation, and economic welfare," Economics Letters, Elsevier, vol. 150(C), pages 111-113.
    22. Veasna Khim & Hery Razafitombo, 2023. "Scale and skills in European active management: Impact of a new regulatory context," Post-Print hal-04197518, HAL.

  8. Roger Edelen & Simon Gervais, 2003. "The Role of Trading Halts in Monitoring a Specialist Market," The Review of Financial Studies, Society for Financial Studies, vol. 16(1), pages 263-300.

    Cited by:

    1. Clapham, Benjamin & Gomber, Peter & Haferkorn, Martin & Panz, Sven, 2017. "Managing excess volatility: Design and effectiveness of circuit breakers," SAFE Working Paper Series 195, Leibniz Institute for Financial Research SAFE.
    2. Kim, Yong H. & Yagüe, José & Yang, J. Jimmy, 2008. "Relative performance of trading halts and price limits: Evidence from the Spanish Stock Exchange," International Review of Economics & Finance, Elsevier, vol. 17(2), pages 197-215.
    3. Hai-Chuan Xu & Wei Zhang & Yi-Fang Liu, 2013. "Short-term Market Reaction after Trading Halts in Chinese Stock Market," Papers 1309.1138, arXiv.org, revised Jun 2014.
    4. Jiang, Christine & McInish, Thomas & Upson, James, 2009. "The information content of trading halts," Journal of Financial Markets, Elsevier, vol. 12(4), pages 703-726, November.
    5. Farag, Hisham, 2013. "Price limit bands, asymmetric volatility and stock market anomalies: Evidence from emerging markets," Global Finance Journal, Elsevier, vol. 24(1), pages 85-97.
    6. Xu, Hai-Chuan & Zhang, Wei & Liu, Yi-Fang, 2014. "Short-term market reaction after trading halts in Chinese stock market," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 401(C), pages 103-111.
    7. Yong H. Kim & J. Jimmy Yang, 2004. "What Makes Circuit Breakers Attractive to Financial Markets? A Survey," Financial Markets, Institutions & Instruments, John Wiley & Sons, vol. 13(3), pages 109-146, August.
    8. Andersson, Jonas & Moberg, Jan-Magnus, 2007. "Structural breaks in point processes: With an application to reporting delays for trades on the New York stock exchange," Discussion Papers 2007/28, Norwegian School of Economics, Department of Business and Management Science.
    9. Shmuel Hauser & Haim Kedar-Levy & Batia Pilo & Itzhak Shurki, 2006. "The Effect of Trading Halts on the Speed of Price Discovery," Journal of Financial Services Research, Springer;Western Finance Association, vol. 29(1), pages 83-99, February.
    10. Juan C. Reboredo, 2012. "The switch from continuous to call auction trading in response to a large intraday price movement," Applied Economics, Taylor & Francis Journals, vol. 44(8), pages 945-967, March.
    11. Levy, Tamir & Yagil, Joseph, 2005. "Observed versus theoretical prices under price limit regimes," Journal of Economics and Business, Elsevier, vol. 57(3), pages 208-237.
    12. Imtiaz Mohammad Sifat & Azhar Mohamad, 2019. "Circuit breakers as market stability levers: A survey of research, praxis, and challenges," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 24(3), pages 1130-1169, July.
    13. Cheoljun Eom & Steven J. Jordan & Woo‐Baik Lee & Jong Won Park, 2020. "Programs trades and trade regulation: An evidence of the Korean securities market," Journal of Futures Markets, John Wiley & Sons, Ltd., vol. 40(1), pages 44-66, January.
    14. Deb, Saikat Sovan & Kalev, Petko S. & Marisetty, Vijaya B., 2010. "Are price limits really bad for equity markets?," Journal of Banking & Finance, Elsevier, vol. 34(10), pages 2462-2471, October.

  9. Gervais, Simon & Odean, Terrance, 2001. "Learning to be Overconfident," The Review of Financial Studies, Society for Financial Studies, vol. 14(1), pages 1-27.
    See citations under working paper version above.
  10. Simon Gervais & Ron Kaniel & Dan H. Mingelgrin, 2001. "The High‐Volume Return Premium," Journal of Finance, American Finance Association, vol. 56(3), pages 877-919, June.
    See citations under working paper version above.
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