The Moderating Effect of Firm Value and liquidity on the relationship between Managerial Overconfidence and R&D
محل انتشار: فصلنامه بررسی تجارت نفت، دوره: 2، شماره: 3
سال انتشار: 1397
نوع سند: مقاله ژورنالی
زبان: انگلیسی
مشاهده: 263
فایل این مقاله در 7 صفحه با فرمت PDF قابل دریافت می باشد
- صدور گواهی نمایه سازی
- من نویسنده این مقاله هستم
استخراج به نرم افزارهای پژوهشی:
شناسه ملی سند علمی:
JR_PBR-2-3_004
تاریخ نمایه سازی: 22 آذر 1399
چکیده مقاله:
Overconfident managers, who tend to overestimate their capabilities, underestimate the possibility and impact of side effects in projects. The purpose of this study is to review the effect of managerial overconfidence on research and development expenditures and the moderating effect of firm value and liquidity on this relationship. For this purpose 51 companies were chosen from oil/gas, and petrochemical Companies listed on the Tehran Stock Exchange over the period 2012-2017. This research, within three basic hypotheses, is analyzed by Eviews software and shows that managerial overconfidence has positive effect on research and development. Company liquidity has direct effect on relationship between managerial overconfidence and R&D, but firm value has no meaningful effect on the relationship between managerial overconfidence and R&D. Keywords: managerial overconfidence, R&D, liquidity, firm value
کلیدواژه ها:
نویسندگان
Ali Najafi Moghaddam
Assistant professor, Management and Accounting Department, Islamic Azad University, South Branch, Tehran, Iran
Manijeh Ramsheh
Assistant Professor, Department of Accounting,Faculty of Management, University of Qom, Qom