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在公司的财务决策影响因素中,管理者过度自信的影响是不可忽视的,但是目前来说学者的结论没有得到统一,存在双重效应。本文针对行为公司金融理论广泛关注的管理者过度自信在投资管理、融资管理、收购决策,股利分配,企业价值双重效应等财务决策五个方面回顾和总结了国内外这一领域的最新研究成果,进而指出了目前该领域研究存在的主要局限及对国内学者后续深入研究的启示。
In the company’s financial decision-making factors, the impact of managers overconfidence can not be ignored, but for now the scholars did not unify the conclusions, there are dual effects. In this paper, we review and summarize the latest research results in this field at home and abroad from five aspects: financial management, financing management, acquisition decision-making, dividend distribution and dual effects of corporate value. Furthermore, it points out the main limitations of current researches in this area and the enlightenment on the follow-up researches of Chinese scholars.