Which one of the following statements is not correct?

a) Overconfident CEOs are likely to exercise their ESOs nearer the ESOs expiration date than non- overconfident CEOs

b) CEOs overconfidence is likely to increase when it takes time before the outcome is revealed

c) Financial media seems to recognized how overconfident CEOs describe their business

opportunities

d) CEOs overconfidence is one form of agency conflict between owners and managers