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경영자의 과신성향과 주가정보성: 미래이익반응계수와 주가동조성을 중심으로

Author

이혜미, 홍창목

Journal Title

경영학연구

Publication Year

2018

Topics

#Business and Management

Summary

This study empirically examines the effect of management overconfidence on stock price informativeness through future earnings response coefficient and stock price synchronicity. The results show that firms with overconfident managers have higher future earnings response coefficients and lower stock price synchronicity, indicating improved stock price informativeness. This suggests that management overconfidence can have a positive impact on the information environment.

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