How to cite this paper
Azouzi, M & Anis, J. (2012). CEO emotional bias and investment decision, Bayesian network method.Management Science Letters , 2(4), 1259-1278.
Refrences
Albouy M., & Schatt A. (2010). La politique de dividende permet-elle de discipliner les dirigeants ? , LEG UMR Cnrs 5118 – FARGO, Centre de recherche en Finance, Architecture et Gouvernance des Organisations, Cahier du FARGO n° 1100603, Juin 2010.
Baker M., Ruback, R.S., & Wurgler J. (2004). Behavioral Corporate Finance: A Survey. SSRN, à paraître (2005) in B. Eckbo (Ed.), Handbook of Corporate Finance: Empirical Corporate Finance. SSRN_ID740946.
Baker, M, Richard S. R, & Wurgler, J. (2007). Behavioral Corporate Finance. The Handbook of Corporate Finance, 1, 145-186
Barberis N., & Thaler R. (2002). A Survey of Behavioral Finance. In forthcoming Handbook of the Economics of Finance, 1, 1053-1128.
Ben Kraiem, R. (2008). The influence of institutional investors on opportunistic earnings management, International Journal of Accounting Auditing and Performance Evaluation, 5 (1), 89-106.
Ben-David I., Graham J., & Harvey C. (2006). Managerial Overconfidence and Corporate Policies, AFA 2007, Chicago Meetings Paper
Bertrand M., & Mullainathan S. (2003). Enjoying the quiet life? Corporate governance and managerial preferences. Journal of Political Economy, 111 (5), 1043-1075.
Biais B., Hilton D., Mazurier K., & Pouget S. (2005). Judgmental overconfidence, self- Monitoring, and trading performance in an experimental Financial Market. Review of Economic studies, 72 (25), 287-322.
Booth, L., Aivazian, V., Demirguc-Kunt, A., & Maksimovic, V. (2001). Capital structure in developing Countries. Journal of Finance, 56, 87-130.
Bujadi, M.L., & Richardson, A.J. (1997). A citation trail review of the uses of firm size in accounting research. Journal of Accounting literature, 16, 1-27.
Cazavan-Jeny, A. (2004). Le ratio market-to-book et la reconnaissance des immatériels- une étude du marché français. Comptabilité Contrôle Audit, 10 (2).
Chang, C., Lee, A.C., & Lee, C.F. (2009). Determinants of capital structure choice : A structural equation modeling approach. The Quarterly Review of Economics and Finance, 49,197-213.
Cliche, A. (2000). Les déterminants de la gestion des risques par les entreprises non financières : une revue de la littérature. Cahier de recherche, 1206-3290.
Cockburn, I., & Griliches, Z. (1988). Industry effects and appropriability measures in the stock market. American Economic Review, 78 (2), 419-424.
Demaria, S., & Dufour, D. (2007). Les choix d’options comptables lors de la transition aux normes IAS/IFRS : quel rôle pour la prudence ?. Comptabilité-Contrôle- Audit, n° 195, 195-218.
Draief, S. (2010). Structure Financière, Gestion Des Résultats Et Caractéristiques De La Firme. Comptabilité, contrôle, audit et institutions, halshs-00578113, version 1, 18 décembre.
Fama, E. F., & French, K. R. (2002). Testing tradeoff and pecking order predictions about dividends and debt. Review of Financial Studies, 15, 1-33.
Felton, J., Gibson, B., & Sanbonmatsu, D. (2003). Preference for Risk in Investing as a Function of Trait Optimism and Gender. The Journal of Behavioral Finance, 4(1), 33-40.
Gervais, S., Heaton, J.B., & Odean, T. (2010). Overconfidence, compensation contracts, and capital budgeting. Journal of Finance, 3, 83-128.
Gervais, S., & Odean, T. (2001). Learning to Be Overconfident. Review of Financial Studies, 14 (1), 1-27.
Gervais, S., Heaton, J.B., & Odean, T. (2002). The positive role of overconfidence and optimism in investment policy. Mimeo, University Of California, Berkeley.
Gibson B., and Sanbonmatsu D. (2004). The downside of optimism. Personality and Social Psychology, 30, (1), 149-160.
Goel A.M., & Thakor A.V. (2000). Rationality Overconfidence and Leadership. Working Paper n° 00-022, University of Michigan Business School, 2000.
Graham, J., Campbell, H., & Puri, M. (2009). Managerial Attitudes and Corporate Actions. Working Paper, Duke University, SSRN_ID1716966.
Griliches, Z. (1981). Market value, R & D and patents. Economic Letters, 7(2), 183-187.
Gul, F.A., & Tsui, J.S.L. (1998). A test of the free cash flow and debt monitoring hypotheses : Evidence from audit pricing. Journal of Accounting and Economics, 24, 219-237.
Hackbarth, D. (2009). Determinants of corporate borrowing: A behavioral perspective. Journal of Corporate Finance, 15, 389–411.
Hawkins S.A., Hoch, S.J., & Meyers-Levy, J. (2001). Low-involvement learning: Repetition and coherence in familiarity and belief. Journal of Consumer Psychology, 11, 1-11.
Heaton, J. (2002). Managerial optimism and corporate finance. Financial Management, 31, 33-45.
Helliar, C., Power, D., & Sinclair, C. (2005). Managerial "irrationality" in financial decision making. Managerial Finance, 31 (4), 1-11.
Ho, C.R., & Chang, Y. (2009). CEO Overconfidence and Corporate Financial Distress , August 15, 2009, Electronic copy available
Hovakimian, A., Hovakimian, G., & Tehranian, H. (2004). Determinants of target capital structure: The case of dual debt and equity issues. Journal of Financial Economics, 71, 517-540.
Jaggi, B., & Gul, F.A. (1999). An analysis of joint effects of investment opportunity set, free cash flows and size on corporate debt policy. Review of Quantitative Finance and Accounting, 12(4), 371-381.
Jarboui, A., & Olivero, B. (2008). Le couple Risque/ Horizon temporel des investissements est-il gouverné par les institutionnels et les actionnaires dominants ?, Banque et Marchés, n° 93, Mars-Avril, 20-34.
Jensen, M.C. (1986). Agency costs of free cash-flow, corporate finance and takeovers. American Economic Review, 76, 323–339.
Koh, P.S. (2003). On the association between institutional ownership and aggressive corporate earnings management in Australia. The British Accounting Review, 35, 105-128.
Lang, L., Stulz, R.M., & Walkling R.A. (1991). a test of free cash-flow hypothesis the cash of bidder return. Journal of Financial Economics, 29, 315-335.
Lehn, K., & Poulsen, A.B. (1989). Free Cash Flow and Stockholder Gains in Going Private Transactions. Journal of Finance, 44, 771-787.
Lin Y.H., Hu, S.Y., & Chen, M.S. (2007). Testing Peking order prediction from the viewpoint of managerial optimism: Some empirical evidence from Taiwan. Pacific-Basin Finance Journal, 16, 160-181.
Lin, Y., Hu, S. & Chen, M. (2005). Managerial optimism and corporate investment: Some empirical evidence from Taiwan. Pacific-Basin Finance Journal, 13(5), 523-546.
Lindenberg, E., & Ross S. (1981). Tobin & apos; s q ratio and industrial organization. Journal of Business, 54 (1), 1-32.
Mairesse, J., & Mohnem, P. (2005). The importance of R & D for Innovation: A reassessment using French survey data. The Journal of Technology Transfer. 30, 183-197.
Malmendier, U., & Tate, G. (2005). CEO overconfidence and corporate investment. Journal of Finance, 60(6), 2661-2700.
Malmendier, U., & Tate, G. (2008). Who makes acquisitions?, CEO overconfidence and the market’s reaction. Journal of Financial Economics, 89, 20-43.
Malmendier, U., Tate, G., & Yan, J. (2010). Managerial beliefs and corporate financial policies. Working Paper n°105, UC Berkeley and UC Los Angeles, Faculty.fuqua.duke.edu.
Maslow A. (1989). Vers une psychologie de l’être . Fayard, Paris, 1989.
Megna, P., and Klock, L. (1993). The impact of intangible capital on Tobin’s Q in the semiconductor industry. American Economic Review, 265-269.
Molay E. (2006). Un test de la théorie de financement hiérarchique sur données de panel françaises, document de travail, université de Nice IAE, pp. 1- 24.
Moussu C., & Thibierge C. (1997). Politique financière, opportunité d’investissement et actifs immatériels en Europe : théorie et étude empirique. Banque et marchés n°30, septembre- octobre, 6-21.
Myers, S.C. (2001). Capital structure. Journal of Economic Perspectives, 15, 81-102.
Naoui K., Elgaied M., & Bayoudh F. (2008). Financement Interne et Investissement : Asymétrie d’Information vs Discrétion Managériale.
Nosic A., & Weber M. (2008). How risky do I invest: The role of risk attitudes, risk perceptions and overconfidence. Decision Analysis, 7, 282-301.
Pearl J. (1986). Fusion, propagation, and structuring in belief networks. Journal of Artificial Intelligence, 29, 241,288,
Rajan R., & Zingales L. (1998). Power in a theory of the firm. Quarterly Journal of Economics, 133 (2), 387-432.
Roll, R. (1986), The hubris hypothesis of corporate takeovers. Journal of Business, 59, 197–216.
Sahut J.M., & Gharbi O. (2008). Investisseurs institutionnels et valeur de la firme, papier de travail, Université de Poitiers et Université Paul Cézanne hal-00645361, 1-28.
Sautner, Z., & Weber, M. (2009). How Do managers behave in stock option plans? Clinical evidence from exercise and survey data. Journal of Financial Research, 32, 123-155.
Schrand, C., & Zechman, S. (2010). Executive Overconfidence and the Slippery Slope to Fraud , Working Paper, University of Chicago.
Simon, M., & Houghton, S.M. (2003). The relationship between overconfidence and the introduction of risky products: Evidence from a field study. Academy of Management Journal, 46,139-149.
Skinner, D. (1993). The investment opportunity set and accounting procedure choice: Preliminary evidence. Journal of Accounting and Economics, 16 (4), 407 – 445.
Thibierge, C. (2001). Actifs immatériels, valorisation boursière et contrainte d & apos; endettement : étude empirique sur les marchés français et espagnol. Congrès international de l & apos; Association Française de Finance, Namur, 28-30
Titman, S. (1984). The effect of capital Structure on a firm’s liquidation decision. Journal of Financial Economics, 13, 137-151.
Wang, T. (2006). Real investment and corporate securities fraud. Working paper, University of Minnesota.
Baker M., Ruback, R.S., & Wurgler J. (2004). Behavioral Corporate Finance: A Survey. SSRN, à paraître (2005) in B. Eckbo (Ed.), Handbook of Corporate Finance: Empirical Corporate Finance. SSRN_ID740946.
Baker, M, Richard S. R, & Wurgler, J. (2007). Behavioral Corporate Finance. The Handbook of Corporate Finance, 1, 145-186
Barberis N., & Thaler R. (2002). A Survey of Behavioral Finance. In forthcoming Handbook of the Economics of Finance, 1, 1053-1128.
Ben Kraiem, R. (2008). The influence of institutional investors on opportunistic earnings management, International Journal of Accounting Auditing and Performance Evaluation, 5 (1), 89-106.
Ben-David I., Graham J., & Harvey C. (2006). Managerial Overconfidence and Corporate Policies, AFA 2007, Chicago Meetings Paper
Bertrand M., & Mullainathan S. (2003). Enjoying the quiet life? Corporate governance and managerial preferences. Journal of Political Economy, 111 (5), 1043-1075.
Biais B., Hilton D., Mazurier K., & Pouget S. (2005). Judgmental overconfidence, self- Monitoring, and trading performance in an experimental Financial Market. Review of Economic studies, 72 (25), 287-322.
Booth, L., Aivazian, V., Demirguc-Kunt, A., & Maksimovic, V. (2001). Capital structure in developing Countries. Journal of Finance, 56, 87-130.
Bujadi, M.L., & Richardson, A.J. (1997). A citation trail review of the uses of firm size in accounting research. Journal of Accounting literature, 16, 1-27.
Cazavan-Jeny, A. (2004). Le ratio market-to-book et la reconnaissance des immatériels- une étude du marché français. Comptabilité Contrôle Audit, 10 (2).
Chang, C., Lee, A.C., & Lee, C.F. (2009). Determinants of capital structure choice : A structural equation modeling approach. The Quarterly Review of Economics and Finance, 49,197-213.
Cliche, A. (2000). Les déterminants de la gestion des risques par les entreprises non financières : une revue de la littérature. Cahier de recherche, 1206-3290.
Cockburn, I., & Griliches, Z. (1988). Industry effects and appropriability measures in the stock market. American Economic Review, 78 (2), 419-424.
Demaria, S., & Dufour, D. (2007). Les choix d’options comptables lors de la transition aux normes IAS/IFRS : quel rôle pour la prudence ?. Comptabilité-Contrôle- Audit, n° 195, 195-218.
Draief, S. (2010). Structure Financière, Gestion Des Résultats Et Caractéristiques De La Firme. Comptabilité, contrôle, audit et institutions, halshs-00578113, version 1, 18 décembre.
Fama, E. F., & French, K. R. (2002). Testing tradeoff and pecking order predictions about dividends and debt. Review of Financial Studies, 15, 1-33.
Felton, J., Gibson, B., & Sanbonmatsu, D. (2003). Preference for Risk in Investing as a Function of Trait Optimism and Gender. The Journal of Behavioral Finance, 4(1), 33-40.
Gervais, S., Heaton, J.B., & Odean, T. (2010). Overconfidence, compensation contracts, and capital budgeting. Journal of Finance, 3, 83-128.
Gervais, S., & Odean, T. (2001). Learning to Be Overconfident. Review of Financial Studies, 14 (1), 1-27.
Gervais, S., Heaton, J.B., & Odean, T. (2002). The positive role of overconfidence and optimism in investment policy. Mimeo, University Of California, Berkeley.
Gibson B., and Sanbonmatsu D. (2004). The downside of optimism. Personality and Social Psychology, 30, (1), 149-160.
Goel A.M., & Thakor A.V. (2000). Rationality Overconfidence and Leadership. Working Paper n° 00-022, University of Michigan Business School, 2000.
Graham, J., Campbell, H., & Puri, M. (2009). Managerial Attitudes and Corporate Actions. Working Paper, Duke University, SSRN_ID1716966.
Griliches, Z. (1981). Market value, R & D and patents. Economic Letters, 7(2), 183-187.
Gul, F.A., & Tsui, J.S.L. (1998). A test of the free cash flow and debt monitoring hypotheses : Evidence from audit pricing. Journal of Accounting and Economics, 24, 219-237.
Hackbarth, D. (2009). Determinants of corporate borrowing: A behavioral perspective. Journal of Corporate Finance, 15, 389–411.
Hawkins S.A., Hoch, S.J., & Meyers-Levy, J. (2001). Low-involvement learning: Repetition and coherence in familiarity and belief. Journal of Consumer Psychology, 11, 1-11.
Heaton, J. (2002). Managerial optimism and corporate finance. Financial Management, 31, 33-45.
Helliar, C., Power, D., & Sinclair, C. (2005). Managerial "irrationality" in financial decision making. Managerial Finance, 31 (4), 1-11.
Ho, C.R., & Chang, Y. (2009). CEO Overconfidence and Corporate Financial Distress , August 15, 2009, Electronic copy available
Hovakimian, A., Hovakimian, G., & Tehranian, H. (2004). Determinants of target capital structure: The case of dual debt and equity issues. Journal of Financial Economics, 71, 517-540.
Jaggi, B., & Gul, F.A. (1999). An analysis of joint effects of investment opportunity set, free cash flows and size on corporate debt policy. Review of Quantitative Finance and Accounting, 12(4), 371-381.
Jarboui, A., & Olivero, B. (2008). Le couple Risque/ Horizon temporel des investissements est-il gouverné par les institutionnels et les actionnaires dominants ?, Banque et Marchés, n° 93, Mars-Avril, 20-34.
Jensen, M.C. (1986). Agency costs of free cash-flow, corporate finance and takeovers. American Economic Review, 76, 323–339.
Koh, P.S. (2003). On the association between institutional ownership and aggressive corporate earnings management in Australia. The British Accounting Review, 35, 105-128.
Lang, L., Stulz, R.M., & Walkling R.A. (1991). a test of free cash-flow hypothesis the cash of bidder return. Journal of Financial Economics, 29, 315-335.
Lehn, K., & Poulsen, A.B. (1989). Free Cash Flow and Stockholder Gains in Going Private Transactions. Journal of Finance, 44, 771-787.
Lin Y.H., Hu, S.Y., & Chen, M.S. (2007). Testing Peking order prediction from the viewpoint of managerial optimism: Some empirical evidence from Taiwan. Pacific-Basin Finance Journal, 16, 160-181.
Lin, Y., Hu, S. & Chen, M. (2005). Managerial optimism and corporate investment: Some empirical evidence from Taiwan. Pacific-Basin Finance Journal, 13(5), 523-546.
Lindenberg, E., & Ross S. (1981). Tobin & apos; s q ratio and industrial organization. Journal of Business, 54 (1), 1-32.
Mairesse, J., & Mohnem, P. (2005). The importance of R & D for Innovation: A reassessment using French survey data. The Journal of Technology Transfer. 30, 183-197.
Malmendier, U., & Tate, G. (2005). CEO overconfidence and corporate investment. Journal of Finance, 60(6), 2661-2700.
Malmendier, U., & Tate, G. (2008). Who makes acquisitions?, CEO overconfidence and the market’s reaction. Journal of Financial Economics, 89, 20-43.
Malmendier, U., Tate, G., & Yan, J. (2010). Managerial beliefs and corporate financial policies. Working Paper n°105, UC Berkeley and UC Los Angeles, Faculty.fuqua.duke.edu.
Maslow A. (1989). Vers une psychologie de l’être . Fayard, Paris, 1989.
Megna, P., and Klock, L. (1993). The impact of intangible capital on Tobin’s Q in the semiconductor industry. American Economic Review, 265-269.
Molay E. (2006). Un test de la théorie de financement hiérarchique sur données de panel françaises, document de travail, université de Nice IAE, pp. 1- 24.
Moussu C., & Thibierge C. (1997). Politique financière, opportunité d’investissement et actifs immatériels en Europe : théorie et étude empirique. Banque et marchés n°30, septembre- octobre, 6-21.
Myers, S.C. (2001). Capital structure. Journal of Economic Perspectives, 15, 81-102.
Naoui K., Elgaied M., & Bayoudh F. (2008). Financement Interne et Investissement : Asymétrie d’Information vs Discrétion Managériale.
Nosic A., & Weber M. (2008). How risky do I invest: The role of risk attitudes, risk perceptions and overconfidence. Decision Analysis, 7, 282-301.
Pearl J. (1986). Fusion, propagation, and structuring in belief networks. Journal of Artificial Intelligence, 29, 241,288,
Rajan R., & Zingales L. (1998). Power in a theory of the firm. Quarterly Journal of Economics, 133 (2), 387-432.
Roll, R. (1986), The hubris hypothesis of corporate takeovers. Journal of Business, 59, 197–216.
Sahut J.M., & Gharbi O. (2008). Investisseurs institutionnels et valeur de la firme, papier de travail, Université de Poitiers et Université Paul Cézanne hal-00645361, 1-28.
Sautner, Z., & Weber, M. (2009). How Do managers behave in stock option plans? Clinical evidence from exercise and survey data. Journal of Financial Research, 32, 123-155.
Schrand, C., & Zechman, S. (2010). Executive Overconfidence and the Slippery Slope to Fraud , Working Paper, University of Chicago.
Simon, M., & Houghton, S.M. (2003). The relationship between overconfidence and the introduction of risky products: Evidence from a field study. Academy of Management Journal, 46,139-149.
Skinner, D. (1993). The investment opportunity set and accounting procedure choice: Preliminary evidence. Journal of Accounting and Economics, 16 (4), 407 – 445.
Thibierge, C. (2001). Actifs immatériels, valorisation boursière et contrainte d & apos; endettement : étude empirique sur les marchés français et espagnol. Congrès international de l & apos; Association Française de Finance, Namur, 28-30
Titman, S. (1984). The effect of capital Structure on a firm’s liquidation decision. Journal of Financial Economics, 13, 137-151.
Wang, T. (2006). Real investment and corporate securities fraud. Working paper, University of Minnesota.