管理过度自信与企业数字化转型

IF 6.9 2区经济学 Q1 BUSINESS, FINANCE

Finance Research Letters Pub Date : 2025-01-17 DOI:10.1016/j.frl.2025.106828

Li Zhang , Xinwei Song

{"title":"管理过度自信与企业数字化转型","authors":"Li Zhang , Xinwei Song","doi":"10.1016/j.frl.2025.106828","DOIUrl":null,"url":null,"abstract":"<div><div>This study employs sample data from publicly listed companies between 2007 and 2022 to examine how managerial overconfidence influences corporate digital transformation. The findings reveal that managerial overconfidence exerts a considerable adverse effect on digital transformation, which is further exacerbated under conditions of limited funding. The research indicates that managerial overconfidence impedes the digital transformation process by diminishing board governance and innovation capacity. Furthermore, the negative impact of managerial overconfidence is more pronounced in firms with a low proportion of institutional investor shareholding and those implementing CEO-Chair duality.</div></div>","PeriodicalId":12167,"journal":{"name":"Finance Research Letters","volume":"75 ","pages":"Article 106828"},"PeriodicalIF":6.9000,"publicationDate":"2025-01-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":"{\"title\":\"Managerial overconfidence and corporate digital transformation\",\"authors\":\"Li Zhang , Xinwei Song\",\"doi\":\"10.1016/j.frl.2025.106828\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"<div><div>This study employs sample data from publicly listed companies between 2007 and 2022 to examine how managerial overconfidence influences corporate digital transformation. The findings reveal that managerial overconfidence exerts a considerable adverse effect on digital transformation, which is further exacerbated under conditions of limited funding. The research indicates that managerial overconfidence impedes the digital transformation process by diminishing board governance and innovation capacity. Furthermore, the negative impact of managerial overconfidence is more pronounced in firms with a low proportion of institutional investor shareholding and those implementing CEO-Chair duality.</div></div>\",\"PeriodicalId\":12167,\"journal\":{\"name\":\"Finance Research Letters\",\"volume\":\"75 \",\"pages\":\"Article 106828\"},\"PeriodicalIF\":6.9000,\"publicationDate\":\"2025-01-17\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"0\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"Finance Research Letters\",\"FirstCategoryId\":\"96\",\"ListUrlMain\":\"https://www.sciencedirect.com/science/article/pii/S1544612325000935\",\"RegionNum\":2,\"RegionCategory\":\"经济学\",\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"Q1\",\"JCRName\":\"BUSINESS, FINANCE\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"Finance Research Letters","FirstCategoryId":"96","ListUrlMain":"https://www.sciencedirect.com/science/article/pii/S1544612325000935","RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"BUSINESS, FINANCE","Score":null,"Total":0}

引用次数: 0

摘要

本研究采用2007年至2022年间上市公司的样本数据来考察管理层过度自信对企业数字化转型的影响。研究结果表明，管理层过度自信对数字化转型产生了相当大的不利影响，在资金有限的情况下，这种影响会进一步加剧。研究表明，管理层过度自信会削弱董事会治理和创新能力，从而阻碍数字化转型进程。此外，管理者过度自信的负面影响在机构投资者持股比例较低的公司和实施ceo -董事长二元制的公司中更为明显。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

查看原文本刊更多论文

Managerial overconfidence and corporate digital transformation

This study employs sample data from publicly listed companies between 2007 and 2022 to examine how managerial overconfidence influences corporate digital transformation. The findings reveal that managerial overconfidence exerts a considerable adverse effect on digital transformation, which is further exacerbated under conditions of limited funding. The research indicates that managerial overconfidence impedes the digital transformation process by diminishing board governance and innovation capacity. Furthermore, the negative impact of managerial overconfidence is more pronounced in firms with a low proportion of institutional investor shareholding and those implementing CEO-Chair duality.

求助全文

通过发布文献求助，成功后即可免费获取论文全文。去求助

来源期刊

Finance Research Letters BUSINESS, FINANCE-

CiteScore

11.10

自引率

14.40%

发文量

863

期刊介绍： Finance Research Letters welcomes submissions across all areas of finance, aiming for rapid publication of significant new findings. The journal particularly encourages papers that provide insight into the replicability of established results, examine the cross-national applicability of previous findings, challenge existing methodologies, or demonstrate methodological contingencies. Papers are invited in the following areas: Actuarial studies Alternative investments Asset Pricing Bankruptcy and liquidation Banks and other Depository Institutions Behavioral and experimental finance Bibliometric and Scientometric studies of finance Capital budgeting and corporate investment Capital markets and accounting Capital structure and payout policy Commodities Contagion, crises and interdependence Corporate governance Credit and fixed income markets and instruments Derivatives Emerging markets Energy Finance and Energy Markets Financial Econometrics Financial History Financial intermediation and money markets Financial markets and marketplaces Financial Mathematics and Econophysics Financial Regulation and Law Forecasting Frontier market studies International Finance Market efficiency, event studies Mergers, acquisitions and the market for corporate control Micro Finance Institutions Microstructure Non-bank Financial Institutions Personal Finance Portfolio choice and investing Real estate finance and investing Risk SME, Family and Entrepreneurial Finance