Based on the data of manufacturing enterprises in the Growth Enterprise Market in 2010-2015,we analyzes the relationship between CEO overconfidence and M&A,and the effect of organizational slack on them.The results show that:(1) the relationship between the CEO overconfidence of GEM manufacturing enterprises and the M&A are positive correlation,(2)organizational slack plays a regulating role in the relationship between CEO overconfidence and the M&A,and the available slack,recoverable slack and potential slack play a positive regulatory role.The more redundant resources,the stronger the relationship between CEO overconfidence and the M&A.%以创业板制造业企业2010-2015年的数据为研究样本,分析了CEO过度自信与并购的关系,并探讨了组织冗余对两者关系的作用.研究结果表明:(1)创业板制造业企业CEO过度自信与并购呈现正相关的关系,即CEO越自信,企业并购强度越大;(2)组织冗余在CEO过度自信与并购的关系中起调节作用.其中,可利用冗余、可恢复冗余以及潜在冗余对两者的关系均起到正向调节的作用,即企业冗余资源越多,CEO过度自信与并购的关系越强.
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