ABSTRACT Many economic and informational problems associated with corporate IT spending can be attributed to managerial rent-seeking. IT managers with misaligned incentives and budgetary discretion often entrench themselves through their non-value-maximizing investment decisions. In order to boost their bargaining power in future contract renegotiation, they invest excessively in IT projects th...

We propose a novel approach to evaluating the empirical importance of individual managerial characteristics: We analyze different managerial positions (CEO and CFO) jointly and ask whether a managerial bias (overconfidence) matters for decisions under the control of the manager, but not for decisions outside the manager’s core duties. Using a new data set on CEO and CFO overconfidence, we show ...

This paper examines the effects of managerial overconfidence on bank risk taking and investigates whether improvements in governance can help to mitigate the adverse effects of managerial overconfidence on bank risk taking by using ordinary least squares method. The sample consists of the financial institutions in G20 and Taiwan over the period of 2005-2012. The executive overconfidence is meas...

Labour Power and Stagnant Industrial Labor Productivity in Late Colonial India Susan Wolcott Sivasubramonian’s (2000) data on Indian industrial labour productivity indicate 15 percent growth in the period 1900-1938. However, a detailed examination of these data show that most measured growth in large-scale organized industry can be attributed to the enormous gains made by Tata Iron and Steel (T...