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Who Let The Secrets Out? Overconfidence and the Disclosure of Proprietary Information
Başlık:
Who Let The Secrets Out? Overconfidence and the Disclosure of Proprietary Information
Yazar:
Rawson, Caleb, author.
ISBN:
9780355965025
Yazar Ek Girişi:
Fiziksel Tanımlama:
1 electronic resource (70 pages)
Genel Not:
Source: Dissertation Abstracts International, Volume: 79-10(E), Section: A.
Advisors: Jonathan Rogers; Sarah Zechman Committee members: Tony Cookson; Yonca Ertimur; Alan Jagolinzer.
Özet:
This dissertation investigates how CEO overconfidence is associated with the disclosure of proprietary information. I use characteristics of research and development activities (R&D) and capital investments (CAPX) to examine within-firm variation in proprietary disclosure costs. After verifying that narrative disclosures about R&D have higher levels of proprietary disclosure costs than those about CAPX, I predict that overconfident executives underestimate the costs of disclosing proprietary information, leading to higher proprietary disclosure. Consistent with this prediction, I find that overconfident CEOs disclose significantly more about R&D, but not more about CAPX. Further, these CEOs increase the disclosure of distinctly proprietary R&D information (i.e., about current and future investments) significantly more than less proprietary R&D information (i.e., about historical investments). The results suggest the findings are not due to endogenous firm-CEO matching or overconfident CEOs selecting systematically different investment levels.
Notlar:
School code: 0051
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Yer Numarası | Demirbaş Numarası | Shelf Location | Lokasyon / Statüsü / İade Tarihi |
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XX(678663.1) | 678663-1001 | Proquest E-Tez Koleksiyonu | Arıyor... |
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