Overconfidence or competence? Your employees know

被引：6
|
作者：
Kim, Jonghwan [1 ]
Jeon, Heung-Jae [1 ]
Kim, Grace Goun [1 ]
机构：
[1] Yonsei Univ, Sch Business, 50 Yonsei Ro, Seoul 03722, South Korea
来源：
ECONOMICS LETTERS | 2022年 / 216卷
基金：
新加坡国家研究基金会;
关键词：
Overconfidence; Tobin's Q; Competence; Employee rating; CEO approval; CEO OVERCONFIDENCE;
D O I：
10.1016/j.econlet.2022.110580
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
We examine the moderating effect of employees' ratings of their CEOs on the relation between CEO overconfidence and firm value. Obtaining the employees' CEO approval data from Glassdoor, we test the hypothesis that CEO overconfidence with a high approval rating is associated with higher Tobin's Q. Our finding supports the hypothesis and suggests that employees can tell the type of CEO overconfidence (competence-based vs. mere optimism-based). (C) 2022 Elsevier B.V. All rights reserved.
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页数：3
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