Citation
Zhong, Bin and Soh, Wei Ni and Ong, Tze San and Muhamad, Haslinah and He, ChunXi
(2024)
Analysis of the impact of managers' psychological deviation on information disclosure and irrational overseas investment after IFRS convergence.
Finance Research Letters, 64.
art. no. 105446.
pp. 1-8.
ISSN 1544-6123
Abstract
Based on a sample of 6485 firms listed on the Chinese Shanghai and Shenzhen A-shares between 2017 and 2021, the effect of managers' psychological deviation on irrational investment is empirically tested. The higher the managers’ confidence, the lower the investment efficiency. The level of irrational investment in listed companies increases with the degree of managers’ risk appetite. The improvement of disclosure quality of enterprises after IFRS convergence in China can weaken irrational investment triggered by managers' overconfidence. The information disclosure quality by companies can manage the irrational investment behavior that is exacerbated by the high degree of managers’ risk appetite.
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Additional Metadata
| Item Type: | Article |
|---|---|
| Divisions: | School of Business and Economics |
| DOI Number: | https://doi.org/10.1016/j.frl.2024.105446 |
| Publisher: | Elsevier |
| Keywords: | Behavioral finance; Information disclosure quality; International financial reporting standards (IFRS); Irrational investment; Managers' psychological deviation |
| Depositing User: | Scopus 2024 |
| Date Deposited: | 18 Nov 2024 08:00 |
| Last Modified: | 18 Nov 2024 08:00 |
| Altmetrics: | http://www.altmetric.com/details.php?domain=psasir.upm.edu.my&doi=10.1016/j.frl.2024.105446 |
| URI: | http://psasir.upm.edu.my/id/eprint/113325 |
| Statistic Details: | View Download Statistic |
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