Aller au contenu principal
A propos d'HEC A propos d'HEC
Summer School Summer School
Faculté et Recherche Faculté et Recherche
Bachelor Programs Bachelor Programs
MBA Programs MBA Programs
Programme PhD Programme PhD
Executive Education Executive Education
HEC Online HEC Online
A propos d'HEC
En bref En bref
Qui sommes-nous ? Qui sommes-nous ?
Egalité des chances Egalité des chances
HEC Talents HEC Talents
International International
Vie du campus Vie du campus
Sustainability Sustainability
Diversité et inclusion Diversité et inclusion
Stories Stories
Fondation HEC Fondation HEC
Summer School
Youth programs Youth programs
Summer programs Summer programs
Online Programs Online Programs
Faculté et Recherche
À propos À propos
Corps professoral Corps professoral
Départements Départements
Centres Centres
Chaires Chaires
Financements Financements
Knowledge@HEC Knowledge@HEC
Grande Ecole
& Masters
Grande Ecole
Master in Management
Grande Ecole
Master in Management
Programmes
Masters
Programmes
Masters
Doubles
Diplômes
Doubles
Diplômes
Programmes
Bachelor
Programmes
Bachelor
Programmes
Summer
Programmes
Summer
Exchange
students
Exchange
students
Vie
Etudiante
Vie
Etudiante
Notre
différence
Notre
différence
Bachelor Programs
Vue d'ensemble Vue d'ensemble
Course content Course content
Admissions Admissions
Fees and Financing Fees and Financing
MBA Programs
MBA MBA
Executive MBA Executive MBA
TRIUM EMBA TRIUM EMBA
Programme PhD
Overview Overview
HEC Difference HEC Difference
Program details Program details
Research areas Research areas
HEC Community HEC Community
Placement Placement
Job Market Job Market
Admissions Admissions
Financing Financing
Executive Education
Accueil Accueil
Qui sommes-nous ? Qui sommes-nous ?
Univers de formation Univers de formation
Programmes Programmes
Offres entreprises Offres entreprises
Événements/Actualités Événements/Actualités
Contacts Contacts
HEC Online
En bref En bref
Programme diplômant Programme diplômant
Certificats Executive Certificats Executive
MOOCs MOOCs
Summer Programs Summer Programs
Youth programs Youth programs
Faculté et Recherche

CEO Pet Projects - Paul Decaire

30 sep
2021
14H00
Jouy-en-Josas
Anglais

Participer

Ajouter au calendrier
2021-09-30T14:00:00 2021-09-30T15:00:00 CEO Pet Projects - Paul Decaire Finance Speaker : Paul Decaire (W. P. Carey School of Business at the University of Arizona)   Jouy-en-Josas

Finance

Speaker : Paul Decaire (W. P. Carey School of Business at the University of Arizona)

Using hand-collected data on CEOs’ personal assets, we find that CEOs prioritize corporate investment projects that increase the value of CEOs’ private assets. Such pet projects are implemented sooner, receive more capital, and are less likely to be dropped. This investment strategy delivers large personal gains to the CEO, but selects lower NPV projects for the firm and erodes its investment efficiency. Using information from CEOs’ relatives as an instrument for the location of their private assets, we argue that these effects are causal. Overall, we uncover CEOs’ private monetary motives in capital budgeting decisions.

Cliquez ici pour télécharger le papier

Participer

Ajouter au calendrier
2021-09-30T14:00:00 2021-09-30T15:00:00 CEO Pet Projects - Paul Decaire Finance Speaker : Paul Decaire (W. P. Carey School of Business at the University of Arizona)   Jouy-en-Josas