The effect of CEO overconfidence on bank risk taking

Jijun Niu ()
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Jijun Niu: Simon Fraser University

Economics Bulletin, 2010, vol. 30, issue 4, 3288-3299

Abstract: Recent studies document that some CEOs are overconfident. In this note, we examine the effect of CEO overconfidence on bank risk taking. We measure CEO overconfidence using press data, and bank risk taking using the standard deviation of stock returns. Controlling for a number of CEO- and bank-specific variables, we find that banks managed by overconfident CEOs take more risk.

Keywords: CEO; overconfidence; bank; risk taking (search for similar items in EconPapers)
JEL-codes: G2 (search for similar items in EconPapers)
Date: 2010-12-08
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Citations: View citations in EconPapers (9)

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