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Better innovators or more innovators? Managerial overconfidence and corporate R&D
Managerial and Decision Economics. 2018. Vol. 39. No. 4. P. 447–461.
The aim of this paper is to study the influence of chief executive officers' overconfidence on corporate research and development (R&D). We analyze a sample of 766 firms from the United Kingdom, France, Germany, Switzerland, Italy, Spain, and the Netherlands between 2008 and 2013. We use 3 measures of managerial overconfidence: the press coverage of chief executive officers, his/her age, and his/her experience in the industry. Our results show that the firms run by overconfident managers actually invest more in R&D expenditures, even after controlling for country, industry, and time factors. Overconfident managers not only spend more on R&D but also amplify the effect of financial determinants of R&D such as firm liquidity or profitability. Nevertheless, overconfident managers do not invest efficiently in R&D, and these expenditures can negatively affect the value of the firm.
Ионцев М. А., Экономика и предпринимательство 2025 № 9(182) С. 478–485
В статье исследуются факторы, влияющие на трансграничные потоки наиболее популярных цифровых валют (Bitcoin и Ether) и иностранных цифровых прав (Tether и USD Coin) между 184 странами с 2017 по 2024 год, а также основные тенденции таких трансграничных потоков. Актуальность исследования обоснована величиной трансграничных потоков цифровых активов, которая оценивалась примерно в 2,6 трлн долларов США в ...
Added: September 17, 2026
Ионцев М. А., Предпринимательское право 2026 № 1 С. 13–20
В статье рассматривается правовая архитектура цифрового сегмента финансового рынка. Рассматриваются квалифицирующие признаки договора фактического посредничества, заключаемого путем присоединения. Автор рассматривает отношения между оператором информационной системы, в которой осуществляется выпуск цифровых финансовых активов, и пользователями такой системы, операторами обмена цифровых финансовых активов и его пользователями. ...
Added: September 17, 2026
Берестова Е. В., Человек 2026 Т. 37 № 5 С. 98–117
The article examines the evolution of ideas in human resource (HR) management and proposes an analytical framework that links classical approaches to work organization with contemporary models of employee development under conditions of uncertainty. The author traces a shift in managerial priorities from standardization and control of work operations to the study of motivation and ...
Added: September 17, 2026
Buchko A., Peresetsky A., HSE Economic Journal 2025 Vol. 29 No. 3 P. 383–406
In recent years cryptocurrencies have gained popularity: institutional and retail investors as well as different trading companies started positively looking at crypto assets. As a result, the convergence level between cryptocurrencies and the traditional markets has changed a lot. Stocks deserve close attention because they are a key asset for many investors. This article explores ...
Added: September 17, 2026
М.: Московский Политех, 2026.
Основной целью конференции является освещение проблем, связанных с внедрением технологий искусственного интеллекта в управление городским хозяйством города Москвы. Участниками были представлены инновационные решения для оптимизации использования ресурсов и городской инфраструктуры. Особое внимание было уделено решению задач прогнозирования и аналитического моделирования для повышения эффективности работы городских систем.
Тезисы докладов содержат разностороннее исследование теоретических и практических вопросов развития ...
Added: September 16, 2026
Abdullaev A., Sivaev S., Regional Research of Russia 2026 Vol. 16 No. 3 P. 518–530
The article examines the specific features of implementing regional programs of targeted social support for housing and communal services payments in Russia. The aim of the study is to identify differences between the federal subjects in key parameters of the program, targeting and coverage of households with housing subsidies, as well as in the results of ...
Added: September 16, 2026
Gokhberg L., Abdrakhmanova G., Kutsenko E. et al., Вопросы статистики 2026 Т. 33 № 4 С. 5–20
This article examines the methodological and practical issues associated with the transition to the new edition of the All-Russian Classifier of Economic Activities (OKVED) – OKVED3. The relevance of the study stems from the need to reflect contemporary structural changes in the economy, related to the transformation of the existing economic activities and emergence of ...
Added: September 15, 2026
Makarov I. A., Россия в глобальной политике 2026 Т. 24 № 4 (140) С. 164–182
Три с половиной года остаётся до 2030-го – окончания срока реализации Целей устойчивого развития (ЦУР) – главной международной инициативы, устанавливающей долгосрочные ориентиры для будущего человечества. Уже очевидно, что она провалилась: преодоление бедности, решение экологических проблем и построение инклюзивного и справедливого общества остались красивой мечтой. Кто-то может воспринимать ЦУР как памятник человеческой наивности. Но надо понимать, что эта ...
Added: September 14, 2026
Fedorova E., Ledyaeva S., Stepanov V., International Review of Economics and Finance 2026
This study investigates the influence of low-quality information, specifically fake news, on short
term stock returns, contributing to the discourse on signal theory and behavioral economics.
Employing a machine learning approach, the authors developed a robust fake news dataset from
publicly available sources. Sentiment analysis was conducted using a FinBERT model fine-tuned
for stock market contexts, alongside extensive dataset ...
Added: September 12, 2026
Alena Bernyukevich, / Series WP BRP "Basic research program". 2025.
This essay explores the complex issue of determining the appropriate level of risk when implementing innovations within organizations. While innovation is widely recognized as a cornerstone of competitiveness, growth, and sustainability, excessive or poorly managed risk can lead to significant challenges. The discussion highlights key factors influencing acceptable risk levels, including alignment with corporate goals, ...
Added: August 17, 2026
Teplova T., Sokolova T., Baklanova V. et al., Экономический журнал Высшей школы экономики 2026 Т. 30 № 1 С. 49–101
The article analyzes the impact of a wide range of deep ESG components (individual ESG practices) on the value of companies, measured by the Q-Tobin coefficient. Empirical estimates are shown on a sample of public companies in the Indonesian emerging capital market, for the period from 2018 to 2023. We apply an original authors’ approach, ...
Added: June 14, 2026
Gurkov I. B., Kossov V. V., Filinov N. et al., / NRU Higher School of Economics. Series MAN "Management". 2026. No. N/A.
This research note is devoted to assessing the socioeconomic impact of sanctions of sanctioned countries and uses the data on Russia in 2022-2024. We use for the analysis four fundamental socioeconomic parameters-the expected length of life of males at birth, the misery index (Okun's index), the level of Gross Domestic Product at purchasing parity prices, ...
Added: June 11, 2026
Anilov A., Ivashkovskaya I., Journal of Behavioral and Experimental Finance 2026 No. 49 Article 101157
This paper examines the moderating role of corporate governance in the relationship between Chief Executive Officer (CEO) overconfidence and corporate payout decisions. Using a panel dataset of 713 S&P 1500 firms from 2010 to 2019, we contribute to the behavioral corporate finance literature in several important ways. First, building on agency theory and upper echelons ...
Added: March 3, 2026
Meissner D., Salati Marcondes de Moraes G. H., Brandão Fischer B. et al., / NRU Higher School of Economics. Series WP BRP "Science, Technology and Innovation". 2025. No. WP BRP /STI/2025.
Innovation has long been at the center of debates in economics, management, and organizational studies. However, innovation is never free of uncertainty and risk. Every act of innovation implies a departure from established paths and a willingness to embrace the unknown. From the beginning it's never clear if there is an audience which appreciates the ...
Added: November 28, 2025
Anilov A., Ivashkovskaya I., Finance Research Letters 2025 Vol. 85, Part B Article 107961
This paper investigates how CEO overconfidence interacts with compensation structure to influence corporate payout policy. Using a panel of 713 S&P 1500 firms from 2010 to 2019, we find that overconfident CEOs with higher equity-based (i.e., convex) compensation are associated with significantly lower levels of both cash dividends and share repurchases. In contrast, inside debt ...
Added: November 26, 2025
Cripps K., Ivanova E., Sridaran K. et al., / Series 0 "0". 2024.
Imagine a world where individuals are considering the impact on the long term of the decisions they are making. Where, as they analyze information, they wonder who are the stakeholders impacted – extending beyond the traditional ones to include Nature, the ecosystem as a stakeholder, and the next generations. Imagine young people reminding each other ...
Added: November 5, 2025
Sokolov B., / Series OSF "SocArXiv". 2025.
This paper reviews various estimands used in modern scientific and applied research to operationalize causal inquiries within the Rubin Causal Model framework. I first introduce the most widely utilized average treatment effects, such as ATE, ATT, and ATC. I then describe their popular extensions, including those targeting local and conditional treatment effects; causal interactions and mediation; effects ...
Added: May 6, 2025
Ovanesova Y., Moshiashvili M. M., Типсина Н. О., / Series "Working Papers". 2021.
The purpose of this article is to analyze and evaluate the cultural characteristics of the digital ecosystem product teams leaders and operational efficiency. Using binary choice models (the main conclusions were made on the basis of logit regressions), has been found a significant negative relationship between the probability of achieving business goals by a team ...
Added: February 17, 2025
Kapeliushnikov R., / Высшая школа экономики. Серия WP3 "Проблемы рынка труда". 2024. № WP3/2024/03.
The paper analyses the little-known essay of one of the classics of economic thought, J. A. Schumpeter (1883–1950), “The Sociology of Imperialisms,” where he appears not as an economic theorist, but as an economic sociologist. The problem of imperialism interested Schumpeter almost throughout his scientific career. His theory was polemically directed against various Marxist interpretations, ...
Added: December 18, 2024
Kapeliushnikov R., / Высшая школа экономики. Серия WP3 "Проблемы рынка труда". 2024. № WP3/2024/02.
The paper explores the key development in the Russian labor market of the 2020s – emergence of a massive overhang of vacant jobs, which has already reached a record level of 7 percent. The paper discusses theoretical aspects of the problem of labor “shortage”, examines probable triggers for the vacancy escalation, and analyzes its dynamics and ...
Added: December 18, 2024
Kapeliushnikov R., / Высшая школа экономики. Серия WP3 "Проблемы рынка труда". 2024. № WP3/2024/01.
The history of economic thought knows a few of heated methodological controversies (Methodenstreit), the most famous of which was a “battle” at the end of the 19th century between Austrian and New historical schools on proper methods of social sciences. Later at the turn of the 1930–1940s a dispute arose between J.M. Keynes, on the one ...
Added: December 18, 2024
Zvereva V., / Банк России. Серия 1 "Аналитические записки". 2024. № 10.
Россия относится к числу стран, которым присуща выраженная региональная неоднородность. Эта неоднородность может быть связана с географическим расположением региона. Например, регионы Дальнего Востока имеют внешнеэкономические связи преимущественно со странами Азии, в то же время регионы запада России преимущественно связаны с Европой. Неоднородность также может быть следствием разной структуры экономик регионов. Например, в южных регионах традиционно ...
Added: December 12, 2024
Zvereva V., Скуратова А. В., / Банк России. Серия 1 "Доклады об экономических исследованиях". 2024. № 129.
Целью данного исследования являлась оценка вклада федеральных и региональных факторов в работу процентного канала трансмиссионного механизма денежно-кредитной политики (ТМ ДКП) после начала пандемии COVID-19 в 2020 году и усиления санкционного давления в 2022 году. Полученные результаты свидетельствуют о том, что наблюдается заметная асимметрия и неоднородность в реакции региональных банковских ставок на ДКП в зависимости от рынка (корпоративное кредитование или депозиты населения), характера ДКП (сдерживающая или стимулирующая) и влияния региональных факторов. Лаг ДКП составляет: 2–3 месяца для рынка корпоративного кредитования и 3–4 месяца для рынка ...
Added: December 12, 2024
Fernandez M. A., Mayskaya T., Nikandrova A., Games and Economic Behavior 2024 Vol. 144 P. 29–48
A rational principal delegates learning to an overconfident agent who overestimates the precision of the information he collects. The principal chooses between two contracts: commitment, in which the agent commits to the duration of learning in advance, and flexible, in which the agent decides when to stop learning in real time. When the agent is ...
Added: January 23, 2024