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L'Exces De Confiance Des Dirigeants Et La Decision De Distribution De Dividendes : Une Analyse Lexicale

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  • Kamal Anouar

    (GRM - Groupe de Recherche en Management - EA 4711 - UNS - Université Nice Sophia Antipolis (1965 - 2019) - IAE Toulon - Institut d'Administration des Entreprises (IAE) - Toulon - UTLN - Université de Toulon)

Abstract

This article proposes to study the dividend decision under the overconfident managers' approach by using a methodology resulting from the textual data analysis. We test the presence of the overconfidence biases' when managers decide to pay dividends for their shareholders. The intuition behind consists in supposing a greater propensity of overconfident managers with the dividend payment. The major finding that emerges from our analyses is: the managers of the SBF250 companies are more confidents when they talk about dividends and financial or accounting results; they are overconfident when they talk about the strategy, and finally managers are not or less confidents when their companies are exposed to an uncertain environment.

Suggested Citation

  • Kamal Anouar, 2013. "L'Exces De Confiance Des Dirigeants Et La Decision De Distribution De Dividendes : Une Analyse Lexicale," Working Papers halshs-00797635, HAL.
    • Handle: RePEc:hal:wpaper:halshs-00797635
    Note: View the original document on HAL open archive server: https://shs.hal.science/halshs-00797635v1
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    References listed on IDEAS

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