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Managerial overconfidence and enterprise shadow banking

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  • Shi, Xiaohua
  • Zhi, Mingxing

Abstract

This paper explores the impact of managerial overconfidence on shadow banking of non-financial enterprises. Selecting a sample of A-share companies in Shanghai and Shenzhen from 2012 to 2021. It is found that managerial overconfidence has a facilitating effect on shadow banking of non-financial enterprises; the facilitating effect of managerial overconfidence on shadow banking of non-financial enterprises is sharper in state-owned enterprises; and overconfident external auditing inhibits the effect of managerial overconfidence on shadow banking of non-financial enterprises.

Suggested Citation

  • Shi, Xiaohua & Zhi, Mingxing, 2023. "Managerial overconfidence and enterprise shadow banking," Finance Research Letters, Elsevier, vol. 58(PB).
    • Handle: RePEc:eee:finlet:v:58:y:2023:i:pb:s154461232300822x
    DOI: 10.1016/j.frl.2023.104450
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