Managerial Beliefs and Firm Performance: Field Evidence from Professional Elite Soccer

David Boto-Garcìa (), Alessandro Bucciol and Luca Zarri
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David Boto-Garcìa: University of Oviedo

No 19/2020, Working Papers from University of Verona, Department of Economics

Abstract: Using detailed field data covering ten seasons of the Italian soccer premier league, we provide the first evidence on the key role played by managerial beliefs in firm performance in a high-powered incentives natural setting where managers receive frequent feedback. We show that managers’ confidence and risk tolerance positively affect performance. Next, we document asymmetrically biased belief updating, in line with prior laboratory work on non-managers. By shedding light on overlooked features of manager-firm interplays and managers’ information processing, our findings corroborate and help qualify the “managers matter” view advanced in recent fieldwork based on low-frequency data.

Keywords: Managerial Beliefs; Firm performance; Professional Soccer; Field data (search for similar items in EconPapers)
JEL-codes: D01 D22 D81 D91 L20 Z20 (search for similar items in EconPapers)
Date: 2020-11
New Economics Papers: this item is included in nep-bec, nep-exp, nep-hrm, nep-ore and nep-spo
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

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