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All Journal Jurnal Manajemen Bisnis
Mochamad Ali Fudin Al Islami
Airlangga University
Decision Sciences, Operations Research & Management Economics, Econometrics & Finance

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THE EFFECT OF MANAGERIAL OVERCONFIDENCE ON CORPORATE INVESTMENT Mochamad Ali Fudin Al Islami; Muhammad Madyan
Manajemen Bisnis Vol. 10 No. 1 (2020): April
Publisher : Universitas muhammadiyah malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22219/jmb.v10i1.11787

Abstract

The research aims to analyze the impact of managerial overconfidence on corporate investment (investment scale, overinvestment and underinvestment) using companies listed in Indonesia’s Stock Exchange in 2012-2018 as a sample. The analysis method used Ordinary Least Square and robustness test used Maximum Likelihood  Estimation. The result shows that managerial overconfidence has a significantly positive impact on the corporate investment scale. It means that managerial overconfidence makes overinvestment problem more severe (more inefficient) and underinvestment problem less severe (more efficient).
Co-Authors Madyan, Muhammad