CEOs Overconfidence and Board of Directors in Tunisian Firms
Posted: 12 Aug 2012 Last revised: 14 Aug 2012
Date Written: August 11, 2012
Abstract
We administered OLS regressions test on the overconfidence bias and the board of directors to obtain evidence concerning CEOs psychological traits and attitudes. We find that CEOs in Tunisian firms are overconfident and the board of directors characteristics as size, independence and duality can significantly affect managerial psychology. We provide evidence from Tunisian listed firms that CEOs behavioral traits namely overconfidence are related to internal mechanisms of corporate governance as the board of directors. We provide further that empirical results are robust and significant.
Keywords: overconfidence, board of directors, OLS regressions, size of board, independence, duality, managerial psychology
JEL Classification: G02, G30, G31, G32
Suggested Citation: Suggested Citation