本研究以2001至2009年間台灣所有上市上櫃公司為樣本，探討經理人過度自信傾向對產品市場競爭行為之影響。在競爭行為上，本文以成本領導策略與差異化策略為主要分析行為，並加入產業結構與景氣循環的考量。透過追蹤資料 (panel data analysis) 分析方法的實證，本文發現，具有過度自信傾向的經理人在成本領導策略方面較為保守，但在差異化策略上則會較積極。此外，產業結構與經濟景氣對過度自信經理人產品差異化行為的影響，則未獲支持。
總而言之，本文研究結果顯示，經理人的個人特質是影響企業決策的重要因素，成功的執行競爭性策略，需要不同的技能組合達成，亦即管理者特質與組織策略的配適，是企業成功的重要關鍵。
This paper examines the relationship between CEO overconfidence and product market competition. In product market competition, we focus on cost leadership strate-gy and market differentiation strategy, and also consider to the industrial structure and the economic cycle. Using a sample of listed on TSE and OTC in Taiwan from 2001 to 2009 and the Panel data regression model, we find that an overconfident CEO will push businesses to engage in more market differentiation strategy than cost leadership strate-gy. In addition, the effect of industrial structure and economic cycle in overconfident CEO’ s competitive behavior were not supported.
Our results indicated that successful business results in condition where managerial characteristics are congruent with the requirements of particular competitive strategies.
