Please use this identifier to cite or link to this item: https://doi.org/10.1016/j.jfineco.2012.12.005
Title: Gender and corporate finance: Are male executives overconfident relative to female executives?
Authors: Huang, J. 
Kisgen, D.J.
Keywords: Corporate policies
Gender
Mergers and acquisitions
Overconfidence
Issue Date: Jun-2013
Citation: Huang, J., Kisgen, D.J. (2013-06). Gender and corporate finance: Are male executives overconfident relative to female executives?. Journal of Financial Economics 108 (3) : 822-839. ScholarBank@NUS Repository. https://doi.org/10.1016/j.jfineco.2012.12.005
Abstract: We examine corporate financial and investment decisions made by female executives compared with male executives. Male executives undertake more acquisitions and issue debt more often than female executives. Further, acquisitions made by firms with male executives have announcement returns approximately 2% lower than those made by female executive firms, and debt issues also have lower announcement returns for firms with male executives. Female executives place wider bounds on earnings estimates and are more likely to exercise stock options early. This evidence suggests men exhibit relative overconfidence in significant corporate decision making compared with women. © 2013 Elsevier B.V.
Source Title: Journal of Financial Economics
URI: http://scholarbank.nus.edu.sg/handle/10635/115743
ISSN: 0304405X
DOI: 10.1016/j.jfineco.2012.12.005
Appears in Collections:Staff Publications

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