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| 文章编号：1672-3104(2018)06-0132-08 |
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环境不确定性、管理者过度自信与研发投入 |
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韩庆兰，闵雨薇 |
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（中南大学商学院，湖南长沙，410083） |
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| 摘 要： 以我国2012—2016年A股重污染行业为研究对象，研究环境不确定性、管理者过度自信与研发投入的关系，将环境不确定性划分为环境动态性和环境敌对性两个维度分别进行研究。结果表明：环境动态性和管理者过度自信会激励企业进行研发活动，环境敌对性会抑制企业的研发活动；环境动态性会促进管理者过度自信对研发投入的激励作用，而环境敌对性会减弱管理者过度自信对研发投入的促进效果。 |
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| 关键词： 环境动态性；环境敌对性；管理者过度自信；研发投入 |
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Environmental uncertainty, managerial overconfidence and R&D investment |
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HAN Qinglan, MIN Yuwei |
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（School of Business, Central South University, Changsha 410083, China） |
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| Abstract: Taking the heavy pollution industry of A shares in China from 2012 to 2016 as the research object, the present study aims at the relationship among environmental uncertainty, overconfidence of managers and R&D investment, dividing the environmental uncertainty into such two dimensions as environmental dynamics and environmental hostility .The results show that environmental dynamics and overconfidence of managers will motivate enterprises to carry out R&D activities, that environmental hostility will inhibit the R&D activities of enterprises, that environmental dynamics will promote the incentive effect of managerial overconfidence to R&D input, and that environmental hostility will weaken the effect of managerial overconfidence on R&D input. |
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Key words: environmental dynamics; environmental hostility; managerial overconfidence; R&D investment |
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