经理人心理和行为偏差对企业投资影响的研究述评  

Review of the Impact of Manager's Psychological and Behavioral Bias on Corporate Investment

作　　者：盛虎[1] 饶育蕾[1] 

机构地区：[1]中南大学商学院,湖南长沙410083

出　　处：《中南财经政法大学学报》2010年第4期77-83,共7页Journal of Zhongnan University of Economics and Law

基　　金：教育部人文社会科学研究后期资助重点项目"行为公司金融"(06JHQZ0010);湖南省软科学计划"企业非理性投资的经理人心理和行为偏差因素分析"(2009ZK4041)

摘　　要：经理人的非理性行为对企业投资决策有重要影响。大量文献从启发式偏差、过度自信、短视的角度,对经理人的心理和行为偏差导致的非理性行为对企业投资的影响进行了理论推导和实证研究,而对损失厌恶、从众行为和嫉妒等心理和行为偏差只进行了案例研究。实验经济学的发展,对于拓展经理人的非理性行为对企业投资决策影响的研究具有重要意义。Managers' irrational behavior has impact on the corporate investment decisions.A lot of literatures have theoretically analyzed and empirically studied the manager's psychological and behavioral bias on the impact of corporate investment.Such as heuristic bias,overconfidence,myopic and so on,it will cause manager irrational behavior.While the manager's psychological and behavioral bias such as loss aversion,envy,and herd behavior have only studied by use of cases.Experimental economics has an important influence on the research of the impact of manager's irrational behavior on corporate investment.

关 键 词：企业经理人 启发式偏差 过度自信 从众行为 实验经济学 企业投资 

分 类 号：F272.91[经济管理—企业管理]