R&D investment and future firm performance: The role of managerial overconfidence and government ownership |
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| Authors: | Imen Tebourbi Irene Wei Kiong Ting Hanh Thi My Le Qian Long Kweh |
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| Institution: | 1. Faculty of Management, Canadian University Dubai, Dubai, United Arab Emirates;2. Faculty of Industrial Management, Universiti Malaysia Pahang, Gambang, Malaysia;3. Benchmarking Research Group, Faculty of Accounting, Ton Duc Thang University, Ho Chi Minh City, Vietnam |
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| Abstract: | 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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