Industrial Policy,Managerial Overconfidence And Budget Shirking

Enterprise budget management since the advent of the last century,the domestic and international academic and practical community of the same concern,is widely used in the actual operation of enterprises.However,with the economic environment changes and practical application of the depth of the budget management process there have been many problems.Budget as an important part of the enterprise management system,its effectiveness lies in the budget management can optimize the enterprise resource allocation.However,in the process of budget implementation,due to the existence of agency costs and information asymmetry,managers exist opportunistic behavior,in the implementation of the budget process lazy,will not work hard,this is the manager's budget shirking behavior.Budget shirking behavior weakened the planning function of the budget,and ultimately reduced the competitiveness of enterprises,seriously damaged the interests of enterprises.Therefore,how to reduce the budget to shirk the scholars become more concerned about the issue.In the past,how to suppress the issue of budget shirking,mostly from outside to study,not from the manager itself.This article from the manager's own characteristics,the study of overconfident managers can inhibit the budget shirk.On the basis of summarizing the predecessors' literature and relevant theories,this paper studies the relationship between overconfidence and budgetary shirking,and introduces the industrial policy into the model for further research.In this paper,the listed companies which disclosing the number of budget companies from 2013 to 2015 are research samples,and the study of samples are selected to get the final sample of this article.We use the multiple linear regression model to explore the management of excessive self-confidence on the impact of budget shirking,and further studying the industrial policy of this macroeconomic policy to join,the manager of excessive self-confidence and budget shirking relationship between the impact.The empirical results show that: First,the higher the degree of self-confidence of the manager,the lower the manager's budget shirking,the negative correlation between them.Second,there is an industrial policy to support the enterprises,managers overconfidence and budget negative correlation is more significant.According to the finding,managers are overconfident that this irrational behavior can reduce budget shrinking,which can improve budget efficiency and improve thecompetitiveness of enterprises.Therefore,enterprises should set up an effective mechanism to strengthen the positive impact of excessive self-confidence on the enterprise,so as to achieve the purpose of improving corporate value.