O excesso de confiança dos gestores e as decisões estratégicas

Pub Date : 2021-09-02 DOI:10.18046/J.ESTGER.2021.161.4208
Jefferson Pereira de Andrade, Wenner Gláucio Lopes Lucena
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引用次数: 1

Abstract

This research aimed to analyze the relationship between the overconfidence of the managers and business strategy. For this, three different proxies for overconfidence and six different strategic dimensions were used. The relationships were established from a panel composed of data from 244 publicly traded Brazilian non-financial companies, through multiple regressions. Such methodology allowed to identify that the business strategy is related differently to the several aspects that make up the strategy. Overconfident managers tend to promote greater asset immobilization and adopt more leveraged capital structures, in addition, they have greater difficulty to promote inventory turns, that is, to generate their own resources.
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管理者的过度自信和战略决策
本研究旨在分析管理者的过度自信与企业战略之间的关系。为此,使用了三种不同的过度自信指标和六种不同的战略维度。这些关系是由244家巴西上市非金融公司的数据组成的小组通过多元回归建立的。这种方法可以确定业务战略与构成战略的几个方面的关系不同。过度自信的管理者倾向于促进更大的资产固定化,采用更杠杆的资本结构,此外,他们更难促进库存周转,即产生自己的资源。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
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