| 企业家过度自信和企业投资决策的相关性分析 |
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| 引用本文： | 李忠民,仇群.企业家过度自信和企业投资决策的相关性分析[J].西安电子科技大学学报(社会科学版),2010,20(4):87-91. |
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| 作者姓名： | 李忠民 仇群 |
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| 作者单位： | 陕西师范大学,国际商学院,陕西,西安,710062 |
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| 基金项目： | 陕西师范大学211工程第三期建设项目 |
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| 摘 要： | 本文主要研究我国西北地区上市企业企业家的过度自信对企业投资决策的影响。本文重定义了企业家过度自信的相关评定指标,假设一个企业家拥有员工认股权证,并且当在两年中都达到了66%以内,但是企业家并未行使权证,就认为该企业家存在过度自信。通过研究,我们发现过度自信的企业家都在企业投资方面表现出很大的自信。实例分析进一步发现,设置独立董事能在一定程度上改善企业因企业家过度自信而增加企业投资。
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| 关 键 词： | 企业家 过度自信 投资 |
The Relevant Analysis of Entrepreneur's Overconfidence and Corporate Investment |
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| LI ZHONGMIN,QIU QUN.The Relevant Analysis of Entrepreneur's Overconfidence and Corporate Investment[J].Journal of Xidian University (Social Sciences Edition),2010,20(4):87-91. |
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| Authors: | LI ZHONGMIN QIU QUN |
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| Institution: | (International Business School,Shaanxi Normal University,Xi＇an,710062,China) |
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| Abstract: | This paper investigates the effect of entrepreneur overconfidence on corporate investment in the listed companies in northwest China.Entrepreneur is classified as overconfident if entrepreneur chronically fails to exercise his employee stock options when the options reached 66% in the money twice.This empirical study indicates that entrepreneur overconfidence results in more corporate investment in the listed companies in northwest China.Furthermore,this study finds that the mechanism of independent directors can lessen the effect of more investment caused by the entrepreneur overconfidence. |
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| Keywords: | Entrepreneur Overconfidence Investment |
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