M.A. Thesis:

R&D costs and future performance of the company with emphasis on the role of managerial overconfidence and government ownership

Abstract The main purpose of this study is to investigate the research and development costs and future performance of the company with emphasis on the role of managerial overconfidence and government ownership in companies listed on the Tehran Stock Exchange. In this study, the collected data were summarized, classified and calculated by Excel software and finally tested by Eviews and Stata software. For this purpose, 123 companies were surveyed during the period 2015-2019. This research is a part of applied research in terms of purpose and in terms of nature and method is a kind of descriptive correlation. Findings showed that there is a significant positive effect between management overconfidence on research and development expenditures and a significant negative effect between government ownership and research and development expenditures. Government ownership also moderates the relationship between managerial overconfidence and R&D costs. On the other hand, research and development costs have a significant effect on the future performance of the company. Keywords: R&D Expenditures, managerial overconfidence, Government Ownership, Future Performance

Keywords: Keywords: R&D Expenditures, managerial overconfidence, Government Ownership, Future Performance