Managerial overconfidence and enterprise shadow banking

Xiaohua Shi and Mingxing Zhi

Finance Research Letters, 2023, vol. 58, issue PB

Abstract: This paper explores the impact of managerial overconfidence on shadow banking of non-financial enterprises. Selecting a sample of A-share companies in Shanghai and Shenzhen from 2012 to 2021. It is found that managerial overconfidence has a facilitating effect on shadow banking of non-financial enterprises; the facilitating effect of managerial overconfidence on shadow banking of non-financial enterprises is sharper in state-owned enterprises; and overconfident external auditing inhibits the effect of managerial overconfidence on shadow banking of non-financial enterprises.

Keywords: Managerial overconfidence; Shadow banking; Property nature; External audit quality (search for similar items in EconPapers)
Date: 2023
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Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:58:y:2023:i:pb:s154461232300822x

DOI: 10.1016/j.frl.2023.104450

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