R&D investment and future firm performance: The role of managerial overconfidence and government ownership
We investigate the relationship among managerial overconfidence (MO), government ownership, and research and development (R&D) investment using data from Vietnamese public companies for the period 2007–2016. We also investigate how R&D investment, given MO and government ownership, affect fu...
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Main Authors: | , , , |
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Format: | Article |
Language: | English |
Published: |
John Wiley & Sons, Ltd.
2020
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Subjects: | |
Online Access: | http://umpir.ump.edu.my/id/eprint/28371/1/R%26D%20investment%20and%20future%20firm%20performance.pdf http://umpir.ump.edu.my/id/eprint/28371/ https://doi.org/10.1002/mde.3173 https://doi.org/10.1002/mde.3173 |
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Summary: | We investigate the relationship among managerial overconfidence (MO), government ownership, and research and development (R&D) investment using data from Vietnamese public companies for the period 2007–2016. We also investigate how R&D investment, given MO and government ownership, affect future firm performance. Our results indicate that MO and government ownership are positively related to R&D investment. Conceptually, this study investigates novel factors affecting of R&D investment and their role in improving firm performance. Overall, this study emphasizes the importance of R&D investment in the corporate world, improving firm performance and, ultimately, economic prosperity. |
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