Managerial overconfidence, overinvestment, and R&D spillover
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DOI: 10.1002/mde.3051
Abstract: This paper examines whether a firm will select an overoptimistic manager when a costâreduction investment has a spillover effect. We consider a Cournot competition model where R&D investment ex ante occurs before the process of… read more here.
Keywords: overinvestment spillover; managerial overconfidence; overconfidence overinvestment; investment ... See more keywords