Optimism or Over-Precision? What Drives the Role of Overconfidence in Managerial Decisions?

Speaker: Robert Faff, Professor of Finance & Director of Research, UQ Business School

Time: 18:30-20:00, Thursday, November 23, 2017

Venue: Room Xixi, Ground Floor, Alumni Center (Moses Li Building), Zijingang Campus

Abstract:

Overconfidence can be viewed as having two dimensions: optimism and over-precision. Extant empirical studies focus mostly on the former due to the difficulty in measuring the latter. This study develops accessible empirical measures to disentangle these two dimensions through a novel exploitation of earnings forecasts issued by firm managers.

About the speaker:

Robert Faff is Professor of Finance and Director of Research at the UQ Business School. He has an international reputation in empirical finance research: securing 13 ARC grants (funding exceeding $4 million); more than 300 refereed journal publications; career citations exceeding 9,300; and a h-index of 50 (Google Scholar). His particular passion is nurturing and developing the career trajectories of early career researchers. Robert has supervised more than 30 PhD students to successful completion and examined 50 PhD dissertations. Robert's research interests include asset pricing, risk modelling, managed fund performance, behavioural finance, corporate governance and market efficiency.



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