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Do risk-taking incentives induce CEOs to invest? Evidence from acquisitions
16 references·16 citing·39 second hopsampled
Do risk-taking incentives induce CEOs to invest? Evidence from acquisitions (2015)Do risk-taking incentives induce CEOs to …On the use of instrumental variables in accounting research (2009)On the use of instrumental va…Who makes acquisitions? CEO overconfidence and the market's reaction☆ (2008)Who makes acquisitions? CEO o…What Matters in Corporate Governance? (2008)What Matters in Corporate Gov…Theory of rational option pricing (2005)Theory of rational option pri…Managerial incentives and risk-taking☆ (2005)Managerial incentives and ris…CEO Overconfidence and Corporate Investment (2005)CEO Overconfidence and Corpor…Firm size and the gains from acquisitions (2004)Firm size and the gains from …Stock market driven acquisitions (2003)Stock market driven acquisiti…Executive Compensation as an Agency Problem (2003)Executive Compensation as an …Boys will be Boys: Gender, Overconfidence, and Common Stock Investment (2001)Boys will be Boys: Gender, Ov…Performance Pay and Top-Management Incentives (1990)Performance Pay and Top-Manag…Aggregation and Linearity in the Provision of Intertemporal Incentives (1987)Aggregation and Linearity in …Agency Costs of Free Cash Flow, Corporate Finance, and Takeovers (1986)Agency Costs of Free Cash Flo…The Determinants of Firms' Hedging Policies (1985)The Determinants of Firms' He…Risk Reduction as a Managerial Motive for Conglomerate Mergers (1981)Risk Reduction as a Manageria…Theory of the firm: Managerial behavior, agency costs and ownership structure (1976)Theory of the firm: Manageria…The S-shaped relationship between open innovation and financial performance: A longitudinal perspective using a novel text-based measure (2023)The S-shaped relationship bet…Executive Confidence: A Multidisciplinary Review, Synthesis, and Agenda for Future Research (2022)Executive Confidence: A Multi…Risk‐Taking Incentives and Earnings Management: New Evidence* (2021)Risk‐Taking Incentives and Ea…Does board gender diversity weaken or strengthen executive risk-taking incentives? (2021)Does board gender diversity w…Corporate governance “bundles” and firm acquisitiveness (2021)Corporate governance “bundles…Foreign direct investments: The role of corporate social responsibility (2020)Foreign direct investments: T…Corporate social responsibility, overconfident CEOs and empire building: Agency and stakeholder theoretic perspectives (2020)Corporate social responsibili…Corporate Managerial Ability, Earnings Smoothing, and Acquisitions (2020)Corporate Managerial Ability,…CEO risk-taking incentives and corporate social responsibility (2020)CEO risk-taking incentives an…False Hopes and Blind Beliefs: How Political Connections Affect China's Corporate Bond Market (2019)False Hopes and Blind Beliefs…The shareholder value effects of using value-based performance measures: Evidence from acquisitions and divestments (2018)The shareholder value effects…Managerial risk-taking incentives and the systemic risk of financial institutions (2018)Managerial risk-taking incent…CEO gender differences in careers and the moderating role of country culture: A meta-analytic investigation (2018)CEO gender differences in car…Managerial incentives and strategic choices of firms with different ownership structures (2017)Managerial incentives and str…Option Incentives, Leverage, and Risk-Taking (2016)Option Incentives, Leverage, …Corporate Governance and Takeover Outcomes (2015)Corporate Governance and Take…EFFICIENT CAPITAL MARKETS: A REVIEW OF THEORY AND EMPIRICAL WORK* (1970)ON THE PRICING OF CORPORATE DEBT: THE RISK STRUCTURE OF INTEREST RATES* (1974)A Closed-Form Solution for Options with Stochastic Volatility with Applications to Bond and Currency Options (1993)FINANCIAL RATIOS, DISCRIMINANT ANALYSIS AND THE PREDICTION OF CORPORATE BANKRUPTCY (1968)The Pricing of Options and Corporate Liabilities (1973)Boards: Does one size fit all☆ (2007)Are Overconfident CEOs Better Innovators? (2012)Corporate Immunity to the COVID-19 Pandemic (2020)Moral Hazard and Observability (1979)Good News and Bad News: Representation Theorems and Applications (1981)Agency costs and innovation (1989)Risk Taking by Mutual Funds as a Response to Incentives (1997)The Theory of Incentives: The Principal-Agent Model (2001)The Cost of Capital, Corporation Finance and the Theory of Investment (1958)On financial contracting (1979)Optimal capital structure under corporate and personal taxation (1980)The investment opportunity set and corporate financing, dividend, and compensation policies (1992)The relationship between corporate social responsibility and shareholder value: an empirical test of the risk management hypothesis (2008)The Nature of the Firm (1937)CAPITAL ASSET PRICES: A THEORY OF MARKET EQUILIBRIUM UNDER CONDITIONS OF RISK* (1964)Separation of Ownership and Control (1983)Corporate financing and investment decisions when firms have information that investors do not have (1984)The Market for "Lemons": Quality Uncertainty and the Market Mechanism (1970)A review of tax research (2010)Depression Babies: Do Macroeconomic Experiences Affect Risk Taking?* (2011)Judgment under Uncertainty: Heuristics and Biases (1975)Common risk factors in the returns on stocks and bonds (1993)On Persistence in Mutual Fund Performance (1997)All That Glitters: The Effect of Attention and News on the Buying Behavior of Individual and Institutional Investors (2007)Gender Differences in Preferences (2009)Women in the boardroom and their impact on governance and performance☆ (2009)Law and Finance (1998)Does Corporate Social Responsibility Affect the Cost of Capital? (2010)Does governance travel around the world? Evidence from institutional investors (2010)Social Capital, Trust, and Firm Performance: The Value of Corporate Social Responsibility during the Financial Crisis (2017)The Modern Industrial Revolution, Exit, and the Failure of Internal Control Systems (1993)A Survey of Corporate Governance (1997)Do Investment-Cash Flow Sensitivities Provide Useful Measures of Financing Constraints? (1997)Higher market valuation of companies with a small board of directors (1996)
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References

  • 1976Theory of the firm: Managerial behavior, agency costs and ownership structure71,441 cited
  • 1986Agency Costs of Free Cash Flow, Corporate Finance, and Takeovers17,216 cited
  • 2005Theory of rational option pricing7,161 cited
  • 2001Boys will be Boys: Gender, Overconfidence, and Common Stock Investment5,215 cited
  • 1990Performance Pay and Top-Management Incentives5,080 cited
  • 2005CEO Overconfidence and Corporate Investment3,686 cited
  • 1985The Determinants of Firms' Hedging Policies3,270 cited
  • 2005Managerial incentives and risk-taking☆2,924 cited
  • 2008What Matters in Corporate Governance?2,903 cited
  • 1987Aggregation and Linearity in the Provision of Intertemporal Incentives2,870 cited
  • 1981Risk Reduction as a Managerial Motive for Conglomerate Mergers2,775 cited
  • 2008Who makes acquisitions? CEO overconfidence and the market's reaction☆2,763 cited
  • 2009On the use of instrumental variables in accounting research2,416 cited
  • 2004Firm size and the gains from acquisitions2,355 cited
  • 2003Executive Compensation as an Agency Problem2,347 cited
  • 2003

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Stock market driven acquisitions
2,093 cited

Cited by

  • 2020CEO risk-taking incentives and corporate social responsibility139 cited
  • 2020Corporate social responsibility, overconfident CEOs and empire building: Agency and stakeholder theoretic perspectives118 cited
  • 2020Corporate Managerial Ability, Earnings Smoothing, and Acquisitions83 cited
  • 2023The S-shaped relationship between open innovation and financial performance: A longitudinal perspective using a novel text-based measure80 cited
  • 2016Option Incentives, Leverage, and Risk-Taking79 cited
  • 2018CEO gender differences in careers and the moderating role of country culture: A meta-analytic investigation71 cited
  • 2022Executive Confidence: A Multidisciplinary Review, Synthesis, and Agenda for Future Research58 cited
  • 2019False Hopes and Blind Beliefs: How Political Connections Affect China's Corporate Bond Market52 cited
  • 2017Managerial incentives and strategic choices of firms with different ownership structures48 cited
  • 2021Corporate governance “bundles” and firm acquisitiveness42 cited
  • 2018Managerial risk-taking incentives and the systemic risk of financial institutions41 cited
  • 2020Foreign direct investments: The role of corporate social responsibility39 cited
  • 2021Does board gender diversity weaken or strengthen executive risk-taking incentives?37 cited
  • 2015Corporate Governance and Takeover Outcomes36 cited
  • 2018The shareholder value effects of using value-based performance measures: Evidence from acquisitions and divestments35 cited
  • 2021Risk‐Taking Incentives and Earnings Management: New Evidence*34 cited