CEO overconfidence and the level of short-selling activity

Review of Quantitative Finance and Accounting - This study examines the impact of CEO overconfidence on the level of short-selling activity, as proxied by the short interest ratio. This research...     

How and when female directors effectively cut down acquisition premiums

Grounded upon the group dynamics and the human capital literature, this paper proposes that the presence and conditions of female directors on a board substantially affect the acquisition decision. In detail, it argues that female board representation decreases the acquisition premium offered. It also examines the effects of female directors are contingent upon their conditions. When the females are inside, rather than outside, directors, their influence is greater. When the female directors have more prior acquisition experiences than male directors, the negative impact on premiums is strengthened, particularly when their acquisition experiences are those accumulated at acquirers rather than at targets. Empirical analyses on a sample of 1750 acquisitions made by US public firms in 2003–2013 provide evidence to support our predictions.     

Determinants of financial worry

Grounded in the transactional stress-coping theory and the Tallis and Eysenck (1994) model of nonpathological worry, the present study sought to advance the conceptual and empirical understanding of financial worry (FW). We positioned objective financial stressors (OFS), subjective financial stressors (SFS), and coping resources as key variables in understanding the determinants of financial worry (FW). The cross-sectional data consisted of responses from a representative sample of 19,385 adults, aged 18 and older, drawn from a large U.S. survey. Hierarchical linear regression results revealed that OFS, SFS, household income, and financial capability (FC) are all key determinants of FW. Furthermore, the results revealed adverse effects of OFS and SFS on FW. These effects were moderated by household income, FC, age, and gender. Implications for future research, employers, practitioners, and policymakers are discussed.