Investigating the effect of management overconfidence on the relationship between financial leverage and overinvestment
The purpose of this study was to investigate the effect of management overconfidence on the relationship between financial leverage and overinvestment in companies listed on the Tehran Stock Exchange during the years 1392 to 1398. For this purpose, the data of 99 manufacturing companies listed on the Tehran Stock Exchange were analyzed. This research is of an applied type that describes the correlation between the studied variables. To test the research hypotheses, regression models were estimated based on the panel. The results of testing the research hypotheses show that there is no significant relationship between financial leverage and overinvestment. The results also showed that there is a positive and significant relationship between management overconfidence and overinvestment. But the results showed that management overconfidence did not have a significant effect on the relationship between financial leverage and overinvestment.
- حق عضویت دریافتی صرف حمایت از نشریات عضو و نگهداری، تکمیل و توسعه مگیران میشود.
- پرداخت حق اشتراک و دانلود مقالات اجازه بازنشر آن در سایر رسانههای چاپی و دیجیتال را به کاربر نمیدهد.