L'EXCES DE CONFIANCE DES DIRIGEANTS ET LA DECISION DE DISTRIBUTION DE DIVIDENDES: UNE ANALYSE LEXICALE

Kamal Anouar ()
Additional contact information
Kamal Anouar: GRM - Groupe de Recherche en Management - EA 4711 - UNS - Université Nice Sophia Antipolis (1965 - 2019) - IAE Toulon - Institut d'Administration des Entreprises (IAE) - Toulon - UTLN - Université de Toulon

Working Papers from HAL

Abstract: This article proposes to study the dividend decision under the overconfident managers' approach by using a methodology resulting from the textual data analysis. We test the presence of the overconfidence biases' when managers decide to pay dividends for their shareholders. The intuition behind consists in supposing a greater propensity of overconfident managers with the dividend payment. The major finding that emerges from our analyses is: the managers of the SBF250 companies are more confidents when they talk about dividends and financial or accounting results; they are overconfident when they talk about the strategy, and finally managers are not or less confidents when their companies are exposed to an uncertain environment.

Keywords: overconfidence; dividend; behavioral corporate finance; overconfident managerial approach; textual data analysis; lexical analysis.; : surconfiance; dividende; finance d'entreprise comportementale; approche des dirigeants surconfiants; analyse des données textuelles; analyse lexicale. (search for similar items in EconPapers)
Date: 2013-02-15
Note: View the original document on HAL open archive server: https://shs.hal.science/halshs-00797635v1
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://shs.hal.science/halshs-00797635v1/document (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:hal:wpaper:halshs-00797635

Access Statistics for this paper

More papers in Working Papers from HAL
Bibliographic data for series maintained by CCSD ().