%0 Journal Article %T Research on the Relationship between Managerial Overconfidence and Corporate R & D Investment in the Context of Financing Constraints %A Tongying Liang %A Xiangtian Mo %J Open Journal of Business and Management %P 22-33 %@ 2329-3292 %D 2017 %I Scientific Research Publishing %R 10.4236/ojbm.2017.51003 %X Using the data of Chinese listed companies from 2012 to 2014, this paper empirically tests the relationship between managerial overconfidence and corporate R & D investment in the context of financing constraints by the method of multiple regression analysis, and further tests the impact of ownership type on the relationship. We find that: 1) Compared with the companies with weak financing constraints, the positive relationship between managerial overconfidence and corporate R & D investment in the companies with strong financing constraints is stronger; 2) In the context of strong financing constraints, compared with the state-owned companies, the positive relationship between managerial overconfidence and corporate R & D investment in the non-state-owned companies is stronger. %K Financing Constraints %K Managerial Overconfidence %K Corporate R & %K D Investment %K Ownership Type %U http://www.scirp.org/journal/PaperInformation.aspx?PaperID=72626