1,972
Views
5
CrossRef citations to date
0
Altmetric
Article

Managerial overconfidence, CSR and firm value

&
Pages 1600-1618 | Published online: 14 Oct 2020
 

ABSTRACT

The purpose of our study is to explore the relationship among managerial overconfidence, CSR and firm value. Nonlinear regression and OLS regression are used to test the hypotheses. Managerial overconfidence is measured by the integrated index. The financial data of Korean-listed companies are collected from the DataGuide5 database. The ESG rating of Koran Governance Service (KCGS) is selected as the proxy variable of CSR in Korea. Korean-listed non-financial companies from 2011 to 2016 are selected as the research sample. Empirical results show that managerial overconfidence has a significant and positive impact on firm value; Managerial overconfidence enhances firm value through CSR activities. Our study enriches the research of managerial overconfidence and provides a new perspective within the Eastern culture.

Acknowledgments

We appreciate the help of Hyungkee Baek, Yan Cai, and Zhuoqi Teng. We also appreciate the insightful comments and suggestions made by the anonymous reviewers and the editor.

Disclosure statement

No potential conflict of interest was reported by the authors.

Log in via your institution

Log in to Taylor & Francis Online

PDF download + Online access

  • 48 hours access to article PDF & online version
  • Article PDF can be downloaded
  • Article PDF can be printed
USD 53.00 Add to cart

Issue Purchase

  • 30 days online access to complete issue
  • Article PDFs can be downloaded
  • Article PDFs can be printed
USD 155.00 Add to cart

* Local tax will be added as applicable

Related Research

People also read lists articles that other readers of this article have read.

Recommended articles lists articles that we recommend and is powered by our AI driven recommendation engine.

Cited by lists all citing articles based on Crossref citations.
Articles with the Crossref icon will open in a new tab.