CEO Overconfidence and Corporate Investment
收藏NBER2004-10-01 更新2025-01-04 收录
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https://www.nber.org/papers/w10807
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We argue that managerial overconfidence can account for corporate investment distortions. Overconfident managers overestimate the returns to their investment projects and view external funds as unduly costly. Thus, they overinvest when they have abundant internal funds, but curtail investment when
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美国国家经济研究局创建时间：
2004-10-01
