• DOI:10.2139/ssrn.2371435
Corpus ID: 167423339

Executive Condence and New CEO Selection

@inproceedings{Banerjee2014ExecutiveCA,
  title={Executive Condence and New CEO Selection},
  author={S. Banerjee and L. Dai and M. Humphery-Jenner and V. Nanda},
  year={2014}
}

S. Banerjee, L. Dai, +1 author V. Nanda

Published 2014

Business

Does a senior-executive’s confidence-level affect the likelihood of being promoted to CEO? Prior literature suggests CEOs tend to be overconfident and that, in certain situations, overconfidence can enhance firm-performance. Using an option-based overconfidence-measure, we show overconfident-senior-executives are more likely to be promoted. Firms that are candidates for a change in strategy (i.e., mature, low-risk firms) tend to appoint overconfidentexecutives and benefit in terms of improved… CONTINUE READING

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