文章基本信息

标题：THE EFFECT OF MANAGERIAL OVERCONFIDENCE ON CORPORATE INVESTMENT
本地全文：下载
作者：Mochamad Ali Fudin Al Islami ; Muhammad Madyan
期刊名称：Manajemen Bisnis
印刷版ISSN：2089-0176
电子版ISSN：2655-2523
出版年度：2020
卷号：10
期号：1
页码：49-57
DOI：10.22219/jmb.v10i1.11787
出版社：Faculty of Econimics and Business, Universitas Muhammadiyah Malang
摘要：The research aims to analyze the impact of managerial overconfidence on corporate investment (investment scale, overinvestment and underinvestment) using companies listed in Indonesia’s Stock Exchange in 2012-2018 as a sample. The analysis method used Ordinary Least Square and robustness test used Maximum Likelihood Estimation. The result shows that managerial overconfidence has a significantly positive impact on the corporate investment scale. It means that managerial overconfidence makes overinvestment problem more severe (more inefficient) and underinvestment problem less severe (more efficient).
关键词：managerial overconfidence; overinvestment; underinvestment