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Handbook of Empirical Corporate Finance SET
book

Handbook of Empirical Corporate Finance SET

by Bjørn Espen Eckbo
December 2008
Intermediate to advanced content levelIntermediate to advanced
520 pages
43h 42m
English
North Holland
Content preview from Handbook of Empirical Corporate Finance SET
Chapter 4

Behavioral Corporate Finance*

Malcolm Bakermbaker@hbs.edu    Harvard Business School and NBER, Soldiers Field, Boston, MA 02163, USA

Richard S. Rubackrruback@hbs.edu    Harvard Business School, Soldiers Field, Boston, MA 02163, USA

Jeffrey Wurglerjwurgler@stern.nyu.edu    Stern School of Business and NBER, 44 West Fourth Street, Suite 9-190, New York, NY 10012-1126, USA

Abstract

Research in behavioral corporate finance takes two distinct approaches. The first emphasizes that investors are less than fully rational. It views managerial financing and investment decisions as rational responses to securities market mispricing. The second approach emphasizes that managers are less than fully rational. It studies the effect of nonstandard preferences ...

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Publisher Resources

ISBN: 9780444532657