文章基本信息

标题：Managerial Overconfidence and Labor Investment Efficiency
本地全文：下载
作者：Kyoungwon Mo ; Kyung Jin Park ; YoungJin Kim 等
期刊名称：Academy of Accounting and Financial Studies Journal
印刷版ISSN：1096-3685
出版年度：2019
卷号：23
期号：5
页码：1-17
语种：English
出版社：The DreamCatchers Group, LLC
摘要：Managerial overconfidence is known as a cognitive bias which leads managers to overestimate their ability and judgments and induces riskier capital investments. Research explored the influence of managerial overconfidence on labor investment efficiency. Author found a significantly positive association between CEO overconfidence and labor overinvestment. This result indicates that overconfident managers tend to invest more in labor, thus worsening labor investment efficiency under labor overinvestment. Further analysis reveals that internal funds increase negative impact of the managerial overconfidence on labor investment efficiency..
关键词：Managerial Overconfidence;Labor Investment;Investment Efficiency;Agency Problem