6450 
7722到底哪些因素制约着企业的创新投入？已有的传统理论给出了一些解释，然而对于公司基本面类似或管理者变更前后的同一家公司出现的创新投入差异现象，已有理论无法解释。随着管理者非理性理论的逐渐兴起，文章从CEO过度自信品质和早年饥荒经历这一全新的视角来解释企业创新投入，并对比二者的影响程度，以验证对企业创新投入而言，CEO个人品质和早年经历哪个更重要。文章以2002-2013年沪深上市的信息技术业和制造业企业为样本，通过静态角度的面板回归和动态角度基于CEO变更事件的DID模型分析，得出CEO过度自信有利于促进企业创新投入，而CEO早年饥荒经历则阻碍了企业创新投入，且在童年期和青少年时期经历饥荒的影响更明显；同时CEO饥荒经历对企业创新投入的影响要大于CEO过度自信品质的影响，说明CEO早年经历对企业创新投入的影响更明显。此外，通过企业异质性检验发现，二者对企业创新投入的影响在研发强度大、约束机制弱和国有企业中更明显。文章不仅扩展了企业创新及管理者非理性理论的研究视角，而且为企业选聘合适的管理者提供了决策依据。
企业创新投入的原动力:CEO个人品质还是早年经历——基于CEO过度自信品质与早年饥荒经历的对比
摘要
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引用本文
张信东, 郝盼盼. 企业创新投入的原动力:CEO个人品质还是早年经历——基于CEO过度自信品质与早年饥荒经历的对比[J]. 上海财经大学学报, 2017, 19(1): 61–74.
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