動態競爭的議題中，回應動機扮演了公司在決策是否採取反擊動作的重要因素。在過去的研究多半只考慮了公司層級的影響因素，對於個人層面的探討相對較少。然而，人格特質研究在行為財務學之中所扮演的角色也日漸趨增，例如：經理人過度自信的判斷。
本文將探討經理人過度自信對於回應競爭對手速度的影響，以及加入公司治理的調節變數之下，經理人過度自信會對於回應競爭對手速度有何影響。而本文以寡占市場中的降價行為(如：航空、石油、汽車…等產業)做為實證的探討，因為寡占市場的動態競爭相對於自由競爭市場明顯。
在學術貢獻上，本研究將針對Boyd and Bresser兩位學者於2008年所提出經理人過度自信對於回應競爭對手速度的原因，提供實證探討研究。因此，本篇研究的主軸將是探討在經理人過度自信的影響之下，回應競爭對手的速度會有何影響。

Motivation for firms to consider whether or not respond to rivals is a crucial issue in dynamic competition. Previous studies emphasize more on the effects between firm-specific elements than the individual-related factors. However, personal characteristics such like the CEO overconfidence in judgment play more important roles in field of behavioral finance.
In this study, we focus on the relation between CEO overconfidence and response speed within competitive dynamics perspective. Yet, we also provide the interaction term between overconfidence and corporate governance to examine the effect on response speed. This study adopt price cut events which occur in oligopoly industry as like airlines, petroleum, automobile and etc to test the hypotheses. The major reason for collecting events among oligopoly industry is the obvious competitive pattern.
Contribution of this study is providing the empirical evidence on testifying the relation between overconfidence and response speed that proposed by Boyd and Bresser (2008) who only listed the potential reasons to explain both of the too fast and too slow response speed but no tests. Hence, we clarify how CEO overconfidence influences on response speed.

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