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Erschienen in:

2013 | OriginalPaper | Buchkapitel

70. Chairman Overconfidence and Dividend Payout Policy: An Analysis Based on China’s Listed Companies

verfasst von : Xiu-qun Hu, Rong-shen Lv, Guo-liu Hu

Erschienen in: The 19th International Conference on Industrial Engineering and Engineering Management

Verlag: Springer Berlin Heidelberg

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Abstract

Considering the individual characteristics of chairman and organizational environment, this paper constructs a comprehensive evaluation index as proxy measure of chairman overconfidence and develops a panel regression model to empirically examine the impact of chairman overconfidence on corporate dividend policy. The results show that there is a notable negative correlation relationship between overconfidence behavior of the chairman and the dividend payout policy in China’s listed companies. Relative to the rational chairman, overconfident chairman will be less likely to pay cash dividend.

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Vorheriges Kapitel The Effect of Market Selection on Lagged Currency Risk Exposure

Nächstes Kapitel Shared Knowledge and Shared Understanding Between CIO and Top Management Team: A Literature Review

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Titel: Chairman Overconfidence and Dividend Payout Policy: An Analysis Based on China’s Listed Companies
verfasst von: Xiu-qun Hu
Rong-shen Lv
Guo-liu Hu
Verlag: Springer Berlin Heidelberg
Buch: The 19th International Conference on Industrial Engineering and Engineering Management
Print ISBN: 978-3-642-37269-8

Electronic ISBN: 978-3-642-37270-4

Copyright-Jahr: 2013
DOI: https://doi.org/10.1007/978-3-642-37270-4_70

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