메뉴 건너뛰기




Volumn 13, Issue 3, 2007, Pages 531-577

Acquisitions, overconfident managers and self-attribution bias

Author keywords

Corporate governance; Managerial overconfidence; Mergers and acquisitions; Self attribution bias; Short term and long term performance

Indexed keywords


EID: 34249005243     PISSN: 13547798     EISSN: 1468036X     Source Type: Journal    
DOI: 10.1111/j.1468-036X.2007.00371.x     Document Type: Article
Times cited : (237)

References (83)
  • 2
    • 0035186978 scopus 로고    scopus 로고
    • The take-over market for privately held companies: The US experience
    • pp.
    • Ang, J., Kohers, N. The take-over market for privately held companies: the US experience Cambridge Journal of Economics, Vol. 25, 2001, pp. 723 748.
    • (2001) Cambridge Journal of Economics , vol.25 , pp. 723-748
    • Ang, J.1    Kohers, N.2
  • 4
    • 0041672312 scopus 로고    scopus 로고
    • Market timing and capital structure
    • and. pp.
    • Baker, M. P. and Wurgler, J. Market timing and capital structure Journal of Finance, Vol. 57, 2002, pp. 1 32.
    • (2002) Journal of Finance , vol.57 , pp. 1-32
    • Baker, M.P.1    Wurgler, J.2
  • 5
    • 33746819192 scopus 로고    scopus 로고
    • Investor sentiment and the cross-section of stock returns
    • and. pp.
    • Baker, M. P. and Wurgler, J. Investor sentiment and the cross-section of stock returns Journal of Finance, Vol. 61, 2006, pp. 1645 80.
    • (2006) Journal of Finance , vol.61 , pp. 1645-80
    • Baker, M.P.1    Wurgler, J.2
  • 7
    • 0001852811 scopus 로고
    • Diversification's effect on firm value
    • and. pp.
    • Berger, P. and Ofek, E. Diversification's effect on firm value Journal of Financial Economics, Vol. 37, 1995, pp. 39 65.
    • (1995) Journal of Financial Economics , vol.37 , pp. 39-65
    • Berger, P.1    Ofek, E.2
  • 8
    • 84881883392 scopus 로고    scopus 로고
    • Are overconfident managers born or made? Evidence of self-attribution bias from frequent acquirers
    • and. University of Iowa
    • Billett, M. T. and Qian, Y. Are overconfident managers born or made? Evidence of self-attribution bias from frequent acquirers Working Paper (University of Iowa, 2005).
    • (2005) Working Paper
    • Billett, M.T.1    Qian, Y.2
  • 9
    • 0002479105 scopus 로고
    • Synergistic gains from corporate acquisitions and their division between the stockholders of target and acquiring firms
    • and. pp.
    • Bradley, M., Desai, A. and Kim, E. H. Synergistic gains from corporate acquisitions and their division between the stockholders of target and acquiring firms Journal of Financial Economics, Vol. 21, 1988, pp. 3 40.
    • (1988) Journal of Financial Economics , vol.21 , pp. 3-40
    • Bradley, M.1    Desai, A.2    Kim, E.H.3
  • 10
    • 85025389994 scopus 로고
    • In one word: Not from experience
    • pp.
    • Brehmer, B. In one word: not from experience Acta Psychologica, Vol. 45, 1980, pp. 223 41.
    • (1980) Acta Psychologica , vol.45 , pp. 223-41
    • Brehmer, B.1
  • 12
    • 0039403205 scopus 로고    scopus 로고
    • Takeovers of privately held targets, method of payment, and acquirer returns
    • pp.
    • Chang, S. Takeovers of privately held targets, method of payment, and acquirer returns Journal of Finance, Vol. 52, 1998, pp. 773 84.
    • (1998) Journal of Finance , vol.52 , pp. 773-84
    • Chang, S.1
  • 13
    • 8744258405 scopus 로고    scopus 로고
    • Investor psychology and security market under- and over-reactions
    • and. pp.
    • Daniel, K. D., Hirshleifer, D. and Subrahmanyam, A. Investor psychology and security market under- and over-reactions Journal of Finance, Vol. 53, 1998, pp. 1839 86.
    • (1998) Journal of Finance , vol.53 , pp. 1839-86
    • Daniel, K.D.1    Hirshleifer, D.2    Subrahmanyam, A.3
  • 14
    • 0039699516 scopus 로고    scopus 로고
    • Overconfidence, arbitrage, and equilibrium asset pricing
    • and. pp.
    • Daniel, K. D., Hirshleifer, D. and Subrahmanyam, A. Overconfidence, arbitrage, and equilibrium asset pricing Journal of Finance, Vol. 56, 2001, pp. 921 65.
    • (2001) Journal of Finance , vol.56 , pp. 921-65
    • Daniel, K.D.1    Hirshleifer, D.2    Subrahmanyam, A.3
  • 16
    • 2942580275 scopus 로고    scopus 로고
    • Capturing the value premium in the UK 1955-2001
    • and. pp.
    • Dimson, E., Nagel, S. and Quigley, G. Capturing the value premium in the UK 1955-2001 Financial Analysts Journal, Vol. 59, 2003, pp. 35 46.
    • (2003) Financial Analysts Journal , vol.59 , pp. 35-46
    • Dimson, E.1    Nagel, S.2    Quigley, G.3
  • 17
    • 0000538354 scopus 로고
    • Tender offers and stockholders returns: An empirical analysis
    • and. pp.
    • Dodd, P. and Ruback, R. Tender offers and stockholders returns: an empirical analysis Journal of Financial Economics, Vol. 5, 1977, pp. 351 73.
    • (1977) Journal of Financial Economics , vol.5 , pp. 351-73
    • Dodd, P.1    Ruback, R.2
  • 18
    • 33644884202 scopus 로고    scopus 로고
    • Does investor misvaluation drive the takeover market
    • and. pp.
    • Dong, M., Hirshleifer, D., Richardson, S. and Teoh, S. H. Does investor misvaluation drive the takeover market Journal of Finance, Vol. 61, 2006, pp. 725 62.
    • (2006) Journal of Finance , vol.61 , pp. 725-62
    • Dong, M.1    Hirshleifer, D.2    Richardson, S.3    Teoh, S.H.4
  • 19
    • 0000695147 scopus 로고
    • Overinvestment, Tobin's Q and gains from foreign acquisitions
    • pp.
    • Doukas, J. A. Overinvestment, Tobin's Q and gains from foreign acquisitions Journal of Banking and Finance, Vol. 19, 1995, pp. 1285 1303.
    • (1995) Journal of Banking and Finance , vol.19 , pp. 1285-1303
    • Doukas, J.A.1
  • 20
    • 3042818027 scopus 로고    scopus 로고
    • Excess cash flows and diversification discount
    • and. Summer. pp.
    • Doukas, J. A. and Kan, O. B. Excess cash flows and diversification discount Financial Management, Summer 2004, pp. 5 22.
    • (2004) Financial Management , pp. 5-22
    • Doukas, J.A.1    Kan, O.B.2
  • 21
    • 34247892347 scopus 로고    scopus 로고
    • Acquisitions: Private versus public
    • and. pp.
    • Draper, P. and Paudyal, K. Acquisitions: private versus public European Financial Management, Vol. 12, 2006, pp. 57 80.
    • (2006) European Financial Management , vol.12 , pp. 57-80
    • Draper, P.1    Paudyal, K.2
  • 22
    • 19944413032 scopus 로고    scopus 로고
    • The choice of payment method in European mergers and acquisitions
    • and. pp.
    • Faccio, M. and Masulis, R. W. The choice of payment method in European mergers and acquisitions Journal of Finance, Vol. 60, 2005, pp. 1345 88.
    • (2005) Journal of Finance , vol.60 , pp. 1345-88
    • Faccio, M.1    Masulis, R.W.2
  • 23
    • 38549147867 scopus 로고
    • Common risk factors in the returns on stocks and bonds
    • and. pp.
    • Fama, E. and French, K. Common risk factors in the returns on stocks and bonds Journal of Financial Economics, Vol. 33, 1993, pp. 3 56.
    • (1993) Journal of Financial Economics , vol.33 , pp. 3-56
    • Fama, E.1    French, K.2
  • 24
    • 0000863836 scopus 로고
    • Takeovers: Shareholder returns and the theory of the firm
    • pp.
    • Firth, M. Takeovers: shareholder returns and the theory of the firm Quarterly Journal of Economics, Vol. 94, 1980, pp. 235 60.
    • (1980) Quarterly Journal of Economics , vol.94 , pp. 235-60
    • Firth, M.1
  • 25
    • 0039672699 scopus 로고
    • Some psychological determinants of the level of aspiration
    • pp.
    • Frank, J. D. Some psychological determinants of the level of aspiration American Journal of Psychology, Vol. 47, 1935, pp. 285 93.
    • (1935) American Journal of Psychology , vol.47 , pp. 285-93
    • Frank, J.D.1
  • 26
    • 38249005782 scopus 로고
    • Shareholder wealth effects of corporate takeovers: The UK experience 1955-1985
    • and. pp.
    • Franks, J. R. and Harris, R. S. Shareholder wealth effects of corporate takeovers: the UK experience 1955-1985 Journal of Financial Economics, Vol. 23, 1989, pp. 225 49.
    • (1989) Journal of Financial Economics , vol.23 , pp. 225-49
    • Franks, J.R.1    Harris, R.S.2
  • 27
    • 0042671261 scopus 로고    scopus 로고
    • What do returns to acquiring firms tell us? Evidence from firms that make many acquisitions
    • and. pp.
    • Fuller, K., Netter, J. and Stegemoller, M. What do returns to acquiring firms tell us? Evidence from firms that make many acquisitions Journal of Finance, Vol. 57, 2002, pp. 1763 93.
    • (2002) Journal of Finance , vol.57 , pp. 1763-93
    • Fuller, K.1    Netter, J.2    Stegemoller, M.3
  • 30
    • 34249014135 scopus 로고    scopus 로고
    • Do overconfident managers make better leaders?
    • and. University of Michigan
    • Goel, A. M. and Thakor, A. Do overconfident managers make better leaders? Working Paper (University of Michigan, 2002).
    • (2002) Working Paper
    • Goel, A.M.1    Thakor, A.2
  • 31
    • 21644440877 scopus 로고    scopus 로고
    • Perspectives on probability judgement calibration
    • and. in. D. Koehler. and. N. Harvey, eds, Blackwell
    • Griffin, D. and Brenner, L. Perspectives on probability judgement calibration in D. Koehler and N. Harvey, eds, Blackwell Handbook of Judgement and Decision Making (Blackwell, 2004).
    • (2004) Blackwell Handbook of Judgement and Decision Making
    • Griffin, D.1    Brenner, L.2
  • 32
    • 30744476175 scopus 로고    scopus 로고
    • The determinants of merger waves
    • and. Utrecht School of Economics
    • Gugler, K., Mueller, D. C. and Yurtoglu, B. B. The determinants of merger waves Working Paper (Utrecht School of Economics, 2005).
    • (2005) Working Paper
    • Gugler, K.1    Mueller, D.C.2    Yurtoglu, B.B.3
  • 33
    • 0003036811 scopus 로고
    • A theory for the choice of exchange medium in mergers and acquisitions
    • pp.
    • Hansen, R. G. A theory for the choice of exchange medium in mergers and acquisitions Journal of Business, Vol. 60, 1987, pp. 75 95.
    • (1987) Journal of Business , vol.60 , pp. 75-95
    • Hansen, R.G.1
  • 34
  • 35
    • 21344493808 scopus 로고
    • Differences of opinion make a horse race
    • and. pp.
    • Harris, M. and Raviv, A. Differences of opinion make a horse race Review of Financial Studies, Vol. 6, 1993, pp. 473 506.
    • (1993) Review of Financial Studies , vol.6 , pp. 473-506
    • Harris, M.1    Raviv, A.2
  • 36
    • 21844491874 scopus 로고
    • Managerial overcommitment in corporate acquisition process
    • and. pp.
    • Haunschild, P. R., Davis-Blake, A. and Fichman, M. Managerial overcommitment in corporate acquisition process Organization Science, Vol. 5, 1994, pp. 528 40.
    • (1994) Organization Science , vol.5 , pp. 528-40
    • Haunschild, P.R.1    Davis-Blake, A.2    Fichman, M.3
  • 37
    • 0031094431 scopus 로고    scopus 로고
    • Explaining the premiums paid in large acquisitions: Evidence of CEO hubris
    • and. pp.
    • Hayward, M. L. A. and Hambrick, D. C. Explaining the premiums paid in large acquisitions: evidence of CEO hubris Administrative Science Quarterly, Vol. 42, 1997, pp. 103 27.
    • (1997) Administrative Science Quarterly , vol.42 , pp. 103-27
    • Hayward, M.L.A.1    Hambrick, D.C.2
  • 38
    • 0036216897 scopus 로고    scopus 로고
    • When do firms learn from their acquisition experience? Evidence from 1990-1995
    • pp.
    • Hayward, M. L. A. When do firms learn from their acquisition experience? Evidence from 1990-1995 Strategic Management Journal, Vol. 23, 2002, pp. 21 39.
    • (2002) Strategic Management Journal , vol.23 , pp. 21-39
    • Hayward, M.L.A.1
  • 39
    • 0036333943 scopus 로고    scopus 로고
    • Managerial optimism and corporate finance
    • pp.
    • Heaton, J. B. Managerial optimism and corporate finance Financial Management, Vol. 31, 2002, pp. 33 46.
    • (2002) Financial Management , vol.31 , pp. 33-46
    • Heaton, J.B.1
  • 40
    • 0000125534 scopus 로고
    • Sample selection bias as a specification error
    • pp.
    • Heckman, J. J. Sample selection bias as a specification error Econometrica, Vol. 47, 1979, pp. 795 98.
    • (1979) Econometrica , vol.47 , pp. 795-98
    • Heckman, J.J.1
  • 41
    • 0141872557 scopus 로고    scopus 로고
    • What is the price of hubris? Using takeover battles to infer overpayments and synergies
    • and. Autumn. pp.
    • Hietala, P., Kaplan, S. and Robinson, D. What is the price of hubris? Using takeover battles to infer overpayments and synergies Financial Management Autumn 2003, pp. 5 31.
    • (2003) Financial Management , pp. 5-31
    • Hietala, P.1    Kaplan, S.2    Robinson, D.3
  • 42
    • 0000398111 scopus 로고    scopus 로고
    • Investor psychology and asset pricing
    • pp.
    • Hirshleifer, D. Investor psychology and asset pricing Journal of Finance, Vol. 56, 2001, pp. 1533 97.
    • (2001) Journal of Finance , vol.56 , pp. 1533-97
    • Hirshleifer, D.1
  • 43
    • 0001130746 scopus 로고
    • Corporate acquisitions: A process perspective
    • and. pp.
    • Jemisson, D. B. and Sitkin, S. B. Corporate acquisitions: a process perspective Academy of Management Review, Vol. 11, 1986, pp. 145 63.
    • (1986) Academy of Management Review , vol.11 , pp. 145-63
    • Jemisson, D.B.1    Sitkin, S.B.2
  • 44
    • 0001066475 scopus 로고
    • Agency costs of free cash flow, corporate finance and takeovers
    • pp.
    • Jensen, M. C. Agency costs of free cash flow, corporate finance and takeovers American Economic Review, Vol. 76, 1986, pp. 357 98.
    • (1986) American Economic Review , vol.76 , pp. 357-98
    • Jensen, M.C.1
  • 45
    • 44649197264 scopus 로고
    • Theory of the firm: Managerial behavior, agency costs and ownership structure
    • and. pp.
    • Jensen, M. C. and Meckling, W. Theory of the firm: managerial behavior, agency costs and ownership structure Journal of Financial Economics, Vol. 3, 1976, pp. 305 60.
    • (1976) Journal of Financial Economics , vol.3 , pp. 305-60
    • Jensen, M.C.1    Meckling, W.2
  • 46
    • 34447504242 scopus 로고
    • The market for corporate control: The scientific evidence
    • and. pp.
    • Jensen, M. C. and Ruback, R. The market for corporate control: the scientific evidence Journal of Financial Economics, Vol. 11, 1983, pp. 5 50.
    • (1983) Journal of Financial Economics , vol.11 , pp. 5-50
    • Jensen, M.C.1    Ruback, R.2
  • 47
    • 23944513280 scopus 로고    scopus 로고
    • Market timing and managerial portfolio decisions
    • pp.
    • Jenter, D. C. Market timing and managerial portfolio decisions Journal of Finance, Vol. 60, 2005, pp. 1903 49.
    • (2005) Journal of Finance , vol.60 , pp. 1903-49
    • Jenter, D.C.1
  • 48
    • 33748864492 scopus 로고    scopus 로고
    • Information uncertainty and expected returns
    • and. The Wharton School and Columbia Business School
    • Jiang, G., Lee, C. M. C. and Zhang, G. Y. Information uncertainty and expected returns Working Paper (The Wharton School and Columbia Business School, 2004).
    • (2004) Working Paper
    • Jiang, G.1    Lee, C.M.C.2    Zhang, G.Y.3
  • 50
    • 2942700268 scopus 로고    scopus 로고
    • Maps of bounded rationality, psychology for behavioral economics
    • pp.
    • Kahneman, D. Maps of bounded rationality, psychology for behavioral economics American Economic Review, Vol. 93, 2003, pp. 1449 75.
    • (2003) American Economic Review , vol.93 , pp. 1449-75
    • Kahneman, D.1
  • 54
    • 0039647005 scopus 로고    scopus 로고
    • Speculation duopoly with agreement to disagree: Can overconfidence survive the market test?
    • and. pp.
    • Kyle, A. S. and Wang, A. F. Speculation duopoly with agreement to disagree: can overconfidence survive the market test? Journal of Finance, Vol. 52, 1997, pp. 2073 90.
    • (1997) Journal of Finance , vol.52 , pp. 2073-90
    • Kyle, A.S.1    Wang, A.F.2
  • 55
    • 84937310797 scopus 로고
    • Tobin's q, corporate diversification, and firm performance
    • and. pp.
    • Lang, L. H. P. and Stulz, R. Tobin's q, corporate diversification, and firm performance Journal of Political Economy, Vol. 102, 1994, pp. 1248 80.
    • (1994) Journal of Political Economy , vol.102 , pp. 1248-80
    • Lang, L.H.P.1    Stulz, R.2
  • 57
    • 0000516983 scopus 로고
    • Heads i win, tail it's chance: The illusion of control as a function of the sequence of outcomes in a purely chance task
    • and. pp.
    • Langer, E. J. and Roth, J. Heads I win, tail it's chance: the illusion of control as a function of the sequence of outcomes in a purely chance task Journal of Personality and Social Psychology, Vol. 32, 1975, pp. 951 55.
    • (1975) Journal of Personality and Social Psychology , vol.32 , pp. 951-55
    • Langer, E.J.1    Roth, J.2
  • 58
    • 0002941732 scopus 로고
    • Calibration of probabilities: The state of the art to 1980
    • and. in. D. Kahneman, P. Slovic. and. A. Tversky, eds, pp. Cambridge: Cambridge University Press
    • Lichtenstein, S., Fischhoff, B. and Phillips, L. D. Calibration of probabilities: the state of the art to 1980 in D. Kahneman, P. Slovic and A. Tversky, eds, Judgment under uncertainty: heuristics and biases, pp. 306 334 (Cambridge : Cambridge University Press, 1982).
    • (1982) Judgment under Uncertainty: Heuristics and Biases , pp. 306-334
    • Lichtenstein, S.1    Fischhoff, B.2    Phillips, L.D.3
  • 59
    • 0345326879 scopus 로고    scopus 로고
    • Who makes acquisitions? CEO overconfidence and the market's reaction
    • and. Stanford Graduate School of Business and University of Pennsylvania, The Wharton School
    • Malmendier, U. and Tate, G. Who makes acquisitions? CEO overconfidence and the market's reaction Working Paper (Stanford Graduate School of Business and University of Pennsylvania, The Wharton School, 2004).
    • (2004) Working Paper
    • Malmendier, U.1    Tate, G.2
  • 60
    • 27544450102 scopus 로고    scopus 로고
    • CEO overconfidence and corporate investment
    • and. pp.
    • Malmendier, U. and Tate, G. CEO overconfidence and corporate investment Journal of Finance, Vol. 60, 2005, pp. 2661 2700.
    • (2005) Journal of Finance , vol.60 , pp. 2661-2700
    • Malmendier, U.1    Tate, G.2
  • 61
    • 0023456474 scopus 로고
    • Managerial perspectives on risk and risk taking
    • and. pp.
    • March, J. G. and Shapira, Z. Managerial perspectives on risk and risk taking Management Science, Vol. 33, 1987, pp. 1404 18.
    • (1987) Management Science , vol.33 , pp. 1404-18
    • March, J.G.1    Shapira, Z.2
  • 62
    • 12844265312 scopus 로고
    • Self-serving Biases in attribution of causality: Fact or fiction?
    • and. pp.
    • Miller, D. T. and Ross, M. Self-serving Biases in attribution of causality: fact or fiction? Psychological Bulletin, Vol. 82, 1975, pp. 213 25.
    • (1975) Psychological Bulletin , vol.82 , pp. 213-25
    • Miller, D.T.1    Ross, M.2
  • 63
    • 0030160301 scopus 로고    scopus 로고
    • The impact of industry shocks on takeover and restructuring activity
    • and. pp.
    • Mitchell, M. and Mulherin, H. The impact of industry shocks on takeover and restructuring activity Journal of Financial Economics, Vol. 41, 1996, pp. 193 229.
    • (1996) Journal of Financial Economics , vol.41 , pp. 193-229
    • Mitchell, M.1    Mulherin, H.2
  • 64
    • 0039372633 scopus 로고    scopus 로고
    • Managerial decisions and long-term stock price performance
    • and. pp.
    • Mitchell, M. and Stafford, E. Managerial decisions and long-term stock price performance Journal of Business, Vol. 73, 2000, pp. 287 329.
    • (2000) Journal of Business , vol.73 , pp. 287-329
    • Mitchell, M.1    Stafford, E.2
  • 66
    • 34248160733 scopus 로고    scopus 로고
    • Does investor diversity of opinion, information asymmetry, or uncertainty resolution affect acquirer returns?
    • and. Wake Forest University, University of Pittsburgh and The Ohio University
    • Moeller, S. B., Schlingemann, F. P. and Stulz, R. M. Does investor diversity of opinion, information asymmetry, or uncertainty resolution affect acquirer returns? Working Paper (Wake Forest University, University of Pittsburgh and The Ohio University, 2005).
    • (2005) Working Paper
    • Moeller, S.B.1    Schlingemann, F.P.2    Stulz, R.M.3
  • 67
    • 84977702683 scopus 로고
    • Do managerial objectives drive bad acquisitions?
    • and. pp.
    • Morck, R., Shleifer, A. and Vishny, R. Do managerial objectives drive bad acquisitions? Journal of Finance, Vol. 45, 1990, pp. 31 48.
    • (1990) Journal of Finance , vol.45 , pp. 31-48
    • Morck, R.1    Shleifer, A.2    Vishny, R.3
  • 68
    • 0001186812 scopus 로고    scopus 로고
    • Comparing acquisitions and divestitures
    • and. pp.
    • Mulherin, J. H. and Boone, A. L. Comparing acquisitions and divestitures Journal of Corporate Finance, Vol. 6, 2000, pp. 117 39.
    • (2000) Journal of Corporate Finance , vol.6 , pp. 117-39
    • Mulherin, J.H.1    Boone, A.L.2
  • 69
    • 48549110620 scopus 로고
    • Corporate financing and investment decisions when firms have information that investors do not have
    • and. pp.
    • Myers, S. C. and Majluf, N. S. Corporate financing and investment decisions when firms have information that investors do not have Journal of Financial Economics, Vol. 13, 1984, pp. 187 221.
    • (1984) Journal of Financial Economics , vol.13 , pp. 187-221
    • Myers, S.C.1    Majluf, N.S.2
  • 70
    • 0346907827 scopus 로고    scopus 로고
    • Volume, volatility, price, and profit when all traders are above average
    • pp.
    • Odean, T. Volume, volatility, price, and profit when all traders are above average Journal of Finance, Vol. 53, 1998, pp. 1887 1934.
    • (1998) Journal of Finance , vol.53 , pp. 1887-1934
    • Odean, T.1
  • 71
    • 10944240163 scopus 로고    scopus 로고
    • Market valuation and merger waves
    • and. pp.
    • Rhodes-Kropf, M. and Viswanathan, S. Market valuation and merger waves Journal of Finance, Vol. 59, 2004, pp. 2685 2718.
    • (2004) Journal of Finance , vol.59 , pp. 2685-2718
    • Rhodes-Kropf, M.1    Viswanathan, S.2
  • 72
    • 0002537125 scopus 로고
    • The hubris hypothesis of corporate takeovers
    • pp.
    • Roll, R. The hubris hypothesis of corporate takeovers Journal of Business, Vol. 59, 1986, pp. 197 216.
    • (1986) Journal of Business , vol.59 , pp. 197-216
    • Roll, R.1
  • 74
    • 33947718367 scopus 로고    scopus 로고
    • Managing frames to make better decisions
    • and. in. S. Hoch. and. H. Kunreuther, eds, pp.
    • Russo, J. E. and Schoemaker, P. J. H. Managing frames to make better decisions in S. Hoch and H. Kunreuther, eds, Wharton on Making Decisions, pp. 131 55.
    • Wharton on Making Decisions , pp. 131-55
    • Russo, J.E.1    Schoemaker, P.J.H.2
  • 76
    • 0039056187 scopus 로고    scopus 로고
    • The value of diversification during the conglomerate merger wave
    • pp.
    • Servaes, H. The value of diversification during the conglomerate merger wave Journal of Finance, Vol. 51, 1996, pp. 1201 25.
    • (1996) Journal of Finance , vol.51 , pp. 1201-25
    • Servaes, H.1
  • 77
    • 0013136339 scopus 로고
    • Are we all less risky and more skillful than our fellow drivers?
    • pp.
    • Svenson, O. Are we all less risky and more skillful than our fellow drivers? Acta Psychologica, Vol. 47, 1981, pp. 143 48.
    • (1981) Acta Psychologica , vol.47 , pp. 143-48
    • Svenson, O.1
  • 78
    • 0023968228 scopus 로고
    • Illusion and well-being: A social psychology perspective on mental health
    • and. pp.
    • Taylor, S. E. and Brown, J. D. Illusion and well-being: a social psychology perspective on mental health Psychological Bulletin, Vol. 103, 1988, pp. 193 210.
    • (1988) Psychological Bulletin , vol.103 , pp. 193-210
    • Taylor, S.E.1    Brown, J.D.2
  • 82
    • 26844550080 scopus 로고    scopus 로고
    • Resistance of personal risk perceptions to debiasing interventions
    • and. in. T. Gilovich, D. Griffin. and. D. Kahneman, eds, Cambridge: Cambridge University Press
    • Weinstein, N. D. and Klein, W. M. Resistance of personal risk perceptions to debiasing interventions in T. Gilovich, D. Griffin and D. Kahneman, eds, Heuristics and Biases: The Psychology of Intuitive Judgment (Cambridge : Cambridge University Press, 2002).
    • (2002) Heuristics and Biases: The Psychology of Intuitive Judgment
    • Weinstein, N.D.1    Klein, W.M.2
  • 83
    • 0000589194 scopus 로고
    • Effects of cooperation and competition on responsibility attribution after success and failure
    • and. pp.
    • Wolosin, R. J., Sherman, S. J. and Till, A. Effects of cooperation and competition on responsibility attribution after success and failure Journal of Experimental Social Psychology, Vol. 9, 1973, pp. 220 35.
    • (1973) Journal of Experimental Social Psychology , vol.9 , pp. 220-35
    • Wolosin, R.J.1    Sherman, S.J.2    Till, A.3


* 이 정보는 Elsevier사의 SCOPUS DB에서 KISTI가 분석하여 추출한 것입니다.