کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
140407 162682 2011 11 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
Managerial hubris, firm expansion and firm performance: Evidence from China
موضوعات مرتبط
علوم انسانی و اجتماعی روانشناسی روانشناسی اجتماعی
پیش نمایش صفحه اول مقاله
Managerial hubris, firm expansion and firm performance: Evidence from China
چکیده انگلیسی

Examining Chinese publicly traded firms from 2002 to 2005, we find managerial overconfidence to be positively correlated with the rate of firm expansion. In particular, overconfident managers tend to internally expand firms in an aggressive manner. We also find a negative, though not statistically significant, relationship between managerial overconfidence and M&A activity. Lastly, we examine the relationship between managerial overconfidence and firm performance, finding that managerial overconfidence decreases firm profitability due to overinvestment.


► We study the managerial overconfidence in Chinese listed firms during 2002–2005.
► Managerial overconfidence is positively correlated with the rate of firm expansion.
► Overconfident managers internally expand firms more aggressively.
► Overconfident managers decrease firm profitability due to overinvestment.

ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: The Social Science Journal - Volume 48, Issue 3, September 2011, Pages 489–499
نویسندگان
, , , ,