摘要
国际化决策是国际商业研究的重要内容,过度自信是激励经理人追求有价值的风险项目的重要心理维度。基于此,以2010~2018年间中国沪深A股工业企业为样本,分析了CEO过度自信对国际扩张的影响,考察了产权性质和制度质量的调节作用。研究结果表明,CEO过度自信的程度越高,更加倾向于进行企业国际扩张;相比国有企业,民营企业CEO过度自信对企业国际扩张具有负向影响;相比国有企业,东道国制度质量的提高会增强民营企业CEO过度自信对企业国际扩张的正向影响。
International decision-making is an important part of international business research, and overconfidence is an important psychological dimension that motivates managers to pursue valuable risk projects. This paper aims to analyze the impact of CEO overconfidence on international expansion, meanwhile examining the moderating effect of state ownership and institutional quality. Through the analysis of the data of China Shanghai and Shenzhen A shares of industrial companies from 2010 to 2018, this study shows that(1) The higher the degree of CEO overconfidence, the more inclined to international expansion;(2) The CEO overconfidence of private companies, compared with state-owned enterprises, has a negative effect on international expansion;(3) As the host country’s institutional quality improves, the CEO overconfidence of private companies, compared with state-owned enterprises, has a positive effect on international expansion.
作者
葛菲
田启涛
贺小刚
GE Fei;TIAN Qitao;HE Xiaogang(Shanghai Normal University,Shanghai,China;Henan University of Economics and Law,Zhengzhou,China;Shanghai University of Finance and Economics,Shanghai,China)
出处
《管理学报》
CSSCI
北大核心
2020年第7期1007-1015,共9页
Chinese Journal of Management
基金
国家自然科学基金资助项目(71972121,71672105,71372037)
河南省教育厅人文社会科学研究资助项目(2020-ZZJH-033)。
关键词
CEO过度自信
国际扩张
产权性质
制度质量
CEO overconfidence
international expansion
state ownership
institutional quality
