Self-construction Impact of Managers' Overconfidence on Enterprise R&D——Based on Moderating Effect of Managers' Experiences and Intermediary Effect of Risk-taking
Based on the empirical analysis of China's A-share pharmaceutical manufacturing listed companies from 2012 to 2021,the relationship between managers' overconfidence and enterprise R&D is studied,as well as the moderating effect of managers' R&D experience and overseas experience,and the specific influencing mechanism is analyzed. The results show that overconfidence of managers can promote the R&D of pharmaceutical manufacturing enterprises to carry out project R&D;The managers' R&D experience and overseas experience can moderate the positive correlation between the two;Risk-taking plays an intermediary role in the relationship between the two. In order to improve the competitiveness of the industry and accelerate the development process of new drugs,pharmaceutical companies should encourage managers to take risks,so as to promote enterprise research and development.
NETL
NSTL
万方数据
