The impact of overconfidence of management and internal financing on investment efficiency

The purpose of this study is to investigate the role of trust management and internal financing on investment efficiency. This research is an empirical research in the field of PAS based on the actual financial statements of companies listed in Tehran Stock Exchange. This research is an applied, applied, and descriptive survey in terms of the causal relationship between the variables, in which the historical information of companies and statistical methods are used to confirm or reject assumptions. The statistical population of this research consists of the companies listed in Tehran Stock Exchange during the period 2013 to 1396 with a sample of 112 companies selected from the target population. In this study, panel data method was used to estimate the model. Descriptive and inferential methods are used to analyze the obtained data. In this study Eviews statistical software was used to test the hypotheses. The results of using ordinary least squares regression showed that management's confidence in investment efficiency had a positive and significant effect on investment efficiency and internal financing.