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dc.contributor.authorEichholtz, P.
dc.contributor.authorYönder, Erkan
dc.date.accessioned2016-02-23T14:26:02Z
dc.date.available2016-02-23T14:26:02Z
dc.date.issued2015
dc.identifier.issn1540-6229
dc.identifier.urihttp://hdl.handle.net/10679/3950
dc.identifier.urihttp://onlinelibrary.wiley.com/doi/10.1111/1540-6229.12054/full
dc.descriptionDue to copyright restrictions, the access to the full text of this article is only available via subscription.
dc.description.abstractThis is the first article to study the effects of overconfidence on trading activity and performance in real estate. The article looks at Real Estate Investment Trusts (REITs), as their investments and divestments can be identified with precision. We look at the effect of CEO overconfidence on investment activity and separately investigate property acquisitions and dispositions. We find that REITs with overconfident CEOs tend to invest more; these REITs acquire more assets and are less likely to sell assets than their counterparts if they have enough discretionary cash. Valuable private information is not the main driver for CEOs to be net buyers of company shares: the shares of their companies perform relatively weakly. In addition, we find that overconfident managers have lower property investment performance measured by net operating income and gain on sale of real estate.
dc.description.sponsorshipEuropean Centre for Corporate Engagement (ECCE) ; METEOR, the graduate research school of Maastricht University's School of Business and Economics
dc.language.isoengen_US
dc.publisherWiley
dc.relation.ispartofReal Estate Economics
dc.rightsrestrictedAccess
dc.titleCEO overconfidence, reit investment activity and performanceen_US
dc.typeArticleen_US
dc.peerreviewedyes
dc.publicationstatuspublisheden_US
dc.contributor.departmentÖzyeğin University
dc.contributor.authorID(ORCID 0000-0003-4758-7841 & YÖK ID 129925) Yönder, Erkan
dc.contributor.ozuauthorYönder, Erkan
dc.identifier.volume43
dc.identifier.issue1
dc.identifier.startpage139
dc.identifier.endpage162
dc.identifier.wosWOS:000354642600006
dc.identifier.doi10.1111/1540-6229.12054
dc.subject.keywordsCommon-stock investment
dc.subject.keywordsCorporate-investment
dc.subject.keywordsInvestors
dc.subject.keywordsMarkets
dc.subject.keywordsTraders
dc.subject.keywordsGender
dc.subject.keywordsVolume
dc.subject.keywordsImpact
dc.subject.keywordsToo
dc.identifier.scopusSCOPUS:2-s2.0-84923058220
dc.contributor.authorMale1


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