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Regular version of the site

ICEF Research Seminar by Alexander Wagner (University of Zurich)

Event ended
On Thursday, April 5 at 4.40 pm, room 3211 (Shabolovka str. 26) ICEF will hold the Research Seminar.
Speaker: Alexander Wagner (University of Zurich)
Theme: "Investing in Managerial Honesty" joint with Rajna Gibson, Matthias Sohn and Carmen Tanner

On Thursday, April 5 at 4.40 pm, International College of Economics and Finance will hold the Research Seminar.
Speaker:
 Alexander Wagner (University of Zurich)
Theme: "Investing in Managerial Honesty" joint with Rajna Gibson, Matthias Sohn and Carmen Tanner
Venue: Shabolovka st., 26, room 3211

Abstract: Two laboratory experiments show that investors perceive a CEO to be more committed to honesty when the CEO resisted, at a personal cost, engaging in earnings management. A one standard deviation higher CEO’s perceived commitment to honesty compared to another CEO reduces the relevance, for investment decisions, of differences between the CEOs’ claimed future returns by 40%. This interaction effect is prominent among investors with a pro-self orientation. To pro-social investors, their own honesty values and those attributed to the CEO matter directly, not through the returns. Overall, CEO honesty matters to different investors for distinct reasons.


Everyone interested is welcome to attend!

Pass can be ordered by:
tel. (495)772-95-90*26090
e-mail: vzheleznov@hse.ru
contact: Zheleznov Slava 


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