• A
  • A
  • A
  • ABC
  • ABC
  • ABC
  • А
  • А
  • А
  • А
  • А
Regular version of the site

Student
Title
Supervisor
Faculty
Educational Programme
Final Grade
Year of Graduation
Anastasiya Akatyeva
CEO Overconfidence Impact on Financing of R&D: Empirical Evidence of European Firms
Economics
(Bachelor’s programme)
9
2016
This research if devoted to the analysis of how CEO overconfidence influences R&D investments and financial constraints interdependence in European companies. While conducting a research we tested investments’ dependence on several indices of financial constraints. The use of a number of variants enabled us to receive evidence in the direction of constraints impact on investments and how this relation is affected by managerial overconfidence. It is noticeable that our findings on investments negatively related to constraints correspond to investigations carried out earlier and are economically relevant. Moreover, we confirmed that CEO overconfidence positively influences the extent of investments and constraints interdependence, which is interpreted as unfavorable consequence of this behavioral bias presence. We confirmed that overconfidence reduces constraints’ impact on investments or may even remove it. So, this research correlates with former papers received and therefore could be considered as an addition to the existing base of empirical studies in behavioral economics and corporate finance.

Student Theses at HSE must be completed in accordance with the University Rules and regulations specified by each educational programme.

Summaries of all theses must be published and made freely available on the HSE website.

The full text of a thesis can be published in open access on the HSE website only if the authoring student (copyright holder) agrees, or, if the thesis was written by a team of students, if all the co-authors (copyright holders) agree. After a thesis is published on the HSE website, it obtains the status of an online publication.

Student theses are objects of copyright and their use is subject to limitations in accordance with the Russian Federation’s law on intellectual property.

In the event that a thesis is quoted or otherwise used, reference to the author’s name and the source of quotation is required.

Search all student theses