Explain why managerial overconfidence and optimism both lead to overinvestment in a capital budgeting context.
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Explain why managerial overconfidence and optimism both lead to overinvestment in a capital budgeting context.
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Overconfident managers put too much weight on their information When their information indicates tha...View the full answer
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Related Book For
Behavioral Finance
ISBN: 9780190868741
1st Edition
Authors: H. Kent Baker, Greg Filbeck, John R. Nofsinger
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