The Relationship between Managerial Overconfidence and Over-Investment of China's Manufacturing Listed Companies

被引：0
|
作者：
Qian, Chunhong [1 ]
机构：
[1] Tongji Zhejiang Coll, Dept Accouting, Jiaxing 314051, Zhejiang, Peoples R China
来源：
2019 3RD INTERNATIONAL CONFERENCE ON EDUCATION, MANAGEMENT AND SOCIAL SCIENCE (EMSS 2019) | 2019年
关键词：
Managerial Overconfidence; Over-Investment; Ownership Concentration;
D O I：
暂无
中图分类号：
G40 [教育学];
学科分类号：
040101 ; 120403 ;
摘要：
From the perspective of behavioral finance, this paper analyzes the relationship between managerial overconfidence and over-investment, and compares the influence of different ownership concentration and shareholder nature on the relationship between them. It selects the China's manufacturing listed companies as research sample from 2013 to 2017 year. The research shows that managerial overconfidence and over-investment are significant positive correlation, the overconfidence of managers will aggravate the over-investment. Compared with companies with low ownership concentration, high ownership concentration can reduce the over-investment caused by managerial overconfidence. Meanwhile, compared with the non-state-owned holding companies, state-owned holding companies can lead to more over-investment caused by managerial overconfidence.
引用
收藏
页码：282 / 286
页数：5
相关论文
共 50 条
  • [41] Study on the Impairment of Long-term Equity Investment of China's Listed Companies
    Sun Min
    Kang Ruirui
    [J]. PROCEEDINGS OF 2009 INTERNATIONAL CONFERENCE ON MANAGEMENT SCIENCE AND ENGINEERING, 2009, : 448 - 453
  • [42] A Study on the Relationship between Board Characteristics and Corporate Performance of Listed Companies in China
    Tian, Xiaofeng
    Nie, Wenting
    [J]. PROCEEDINGS OF THE 2017 INTERNATIONAL CONFERENCE ON EDUCATION, ECONOMICS AND MANAGEMENT RESEARCH (ICEEMR 2017), 2017, 95 : 307 - 309
  • [43] An Analysis of the Relationship between Ownership Structure and Corporate Value of Listed Companies in China
    Bao Siyan
    [J]. 2018 5TH INTERNATIONAL CONFERENCE ON BUSINESS, ECONOMICS AND MANAGEMENT (BUSEM 2018), 2018, : 512 - 517
  • [44] The Relationship Between Knowledge Management and Intellectual Capital in Listed Companies of Mainland China
    Chu, Samuel Kai Wah
    Wu, Wendy
    Chan, Kin Hang
    Fu, Olina
    [J]. PROCEEDINGS OF THE 8TH INTERNATIONAL CONFERENCE ON INTELLECTUAL CAPITAL, KNOWLEDGE MANAGEMENT AND ORGANISATIONAL LEARNING, VOLS 1 AND 2, 2011, : 129 - 138
  • [45] The relationship between the cross-shareholdings of listed companies in China and its profitability
    Xu, Xiaoqing
    Zhou, Yan
    [J]. 2015 12TH INTERNATIONAL CONFERENCE ON SERVICE SYSTEMS AND SERVICE MANAGEMENT (ICSSSM), 2015,
  • [46] Research on the Relationship Between Earnings Management and the Executive Compensations of Listed Companies in China
    Li Yuanhui
    Ding Huiping
    Liu Ruisong
    [J]. PROCEEDINGS OF THE 6TH INTERNATIONAL CONFERENCE ON INNOVATION AND MANAGEMENT, VOLS I AND II, 2009, : 757 - 761
  • [47] Investment Value Analysis for Listed Companies of China Communications Industry
    Han, Hua
    Tang, Fei
    [J]. INNOVATIVE COMPUTING AND INFORMATION, ICCIC 2011, PT I, 2011, 231 : 478 - 483
  • [48] Analysis of investment in wind power generation listed companies in China
    Wang, Pin
    Huang, Haiping
    [J]. Energy Education Science and Technology Part A: Energy Science and Research, 2013, 31 (04): : 2211 - 2218
  • [49] Empirical Study on the Relationship between R&D Investment, Capital Structure, and Firm Size of China Private Listed Companies
    Chai, Bin-Feng
    [J]. PICMET 2010: TECHNOLOGY MANAGEMENT FOR GLOBAL ECONOMIC GROWTH, 2010,
  • [50] Impact of managerial ownership on investment and liquidity constraints: Evidence from Chinese listed companies
    Vijayakumaran, Ratnam
    [J]. RESEARCH IN INTERNATIONAL BUSINESS AND FINANCE, 2021, 55
12345