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 Hersh Shefrin : Poor Process Leads to Poor Decisions : The Conference Board Review

Wednesday, Jan. 13, 2010

Hersh Shefrin, the Mario L. Belotti Professor of Finance, told the Conference Board Review that poor decision-making on the part of governing boards arises from certain pyschological biases. These traps arise when high-powered executives come together on a board where their natural optimism is magnified. "Excessive optimism and excessive confidence tend to go together in successful people," he said. "If you are overconfident, you also downplay the risks." Read the full article here >>

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