文章基本信息

标题：The impact of myopic loss aversion on continuing a troubled research and development expenditure
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作者：Kuo-Chih Cheng ; Kuang-Ku Chen
期刊名称：African Journal of Business Management
印刷版ISSN：1993-8233
出版年度：2011
卷号：5
期号：6
页码：2048-2054
DOI：10.5897/AJBM09.093
语种：English
出版社：Academic Journals
摘要：Research and development (R&D) expenditure involve much risk and uncertainty. Failure of a research and development project is a common and dreaded question in innovation processes as a result of causing large losses to businesses. This study explored whether shortening evaluation periods could reduce the willingness of managers of research and development expenditure in continuing a troubled research and development project. The study employed 180 senior managers of high-tech companies as subjects of experimental test. The results indicate that continuing a risky investment decision is less likely in the context of a shorter evaluation period (myopic condition) because decision-makers will experience more frequent losses, leading to the tendency of decision-makers to avoid risk. The theory of ‘myopic loss aversion’ is useful in explaining this phenomenon.
关键词：Evaluation period; level of project completion; myopic loss aversion; risky decision; research and development expenditure