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Managerial attitudes and corporate actions

Publication ,  Journal Article
Graham, JR; Harvey, CR; Puri, M
Published in: Journal of Financial Economics
July 1, 2013

We administer psychometric tests to senior executives to obtain evidence on their underlying psychological traits and attitudes. We find US CEOs differ significantly from non-US CEOs in terms of their underlying attitudes. In addition, we find that CEOs are significantly more optimistic and risk-tolerant than the lay population. We provide evidence that CEOs' behavioral traits such as optimism and managerial risk-aversion are related to corporate financial policies. Further, we provide new empirical evidence that CEO traits such as risk-aversion and time preference are related to their compensation. © 2013 Elsevier B.V.

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Published In

Journal of Financial Economics

DOI

ISSN

0304-405X

Publication Date

July 1, 2013

Volume

109

Issue

1

Start / End Page

103 / 121

Related Subject Headings

  • Finance
  • 3801 Applied economics
  • 3502 Banking, finance and investment
  • 1606 Political Science
  • 1502 Banking, Finance and Investment
  • 1402 Applied Economics
 

Citation

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Graham, J. R., Harvey, C. R., & Puri, M. (2013). Managerial attitudes and corporate actions. Journal of Financial Economics, 109(1), 103–121. https://doi.org/10.1016/j.jfineco.2013.01.010
Graham, J. R., C. R. Harvey, and M. Puri. “Managerial attitudes and corporate actions.” Journal of Financial Economics 109, no. 1 (July 1, 2013): 103–21. https://doi.org/10.1016/j.jfineco.2013.01.010.
Graham JR, Harvey CR, Puri M. Managerial attitudes and corporate actions. Journal of Financial Economics. 2013 Jul 1;109(1):103–21.
Graham, J. R., et al. “Managerial attitudes and corporate actions.” Journal of Financial Economics, vol. 109, no. 1, July 2013, pp. 103–21. Scopus, doi:10.1016/j.jfineco.2013.01.010.
Graham JR, Harvey CR, Puri M. Managerial attitudes and corporate actions. Journal of Financial Economics. 2013 Jul 1;109(1):103–121.
Journal cover image

Published In

Journal of Financial Economics

DOI

ISSN

0304-405X

Publication Date

July 1, 2013

Volume

109

Issue

1

Start / End Page

103 / 121

Related Subject Headings

  • Finance
  • 3801 Applied economics
  • 3502 Banking, finance and investment
  • 1606 Political Science
  • 1502 Banking, Finance and Investment
  • 1402 Applied Economics