Corporate Financial Policies With Overconfident Managers
---- Acknowledgements -----
We are indebted to Brian Hall, David Yermack and John Graham for providing us with the data. We thank Malcolm Baker, Rudi Fahlenbrach, Michael Faulkender, Murray Frank, Dirk Hackbarth, Dirk Jenter, Jeremy Stein, Ilya Strebulaev, Jeffrey Wurgler and seminar participants at MIT, Stanford, Wharton (Applied Economics) and the AFA, ERIM - RSM Rotterdam, FEA, IZA Behavioral Economics of Organizations, and Olin Corporate Governance conferences for helpful comments. Nishanth Rajan provided excellent research assistance. The views expressed herein are those of the author(s) and do not necessarily reflect the views of the National Bureau of Economic Research.