The Empirical Study on the Relation between Managerial Overconfidence and Over-Investment

被引：0
|
作者：
Wenshan Lu [1 ]
Huangjin Liu [1 ]
机构：
[1] Nanjing Univ Sci & Technol, Sch Econ & Management, Nanjing, Jiangsu, Peoples R China
来源：
2016 13TH INTERNATIONAL CONFERENCE ON SERVICE SYSTEMS AND SERVICE MANAGEMENT | 2016年
关键词：
Managerial overconfident; Over-investment; Corporate governance;
D O I：
暂无
中图分类号：
TP [自动化技术、计算机技术];
学科分类号：
0812 ;
摘要：
In this paper we use the data of China A-share listed companies from 2010 to 2014 to examine the impact of managerial overconfidence on corporate investment decisions, and test the inhibition of corporate governance. The evidence indicates that managerial overconfidence is obviously positively correlated with corporate over-investment, and the corporate governance can effectively constraint the behavior. This result helps us to better understand China listed companies' over-investment decisions and sheds light on how to improve the corporate governance.
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页数：6
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