随着新一轮科技革命的蓬勃发展，科技创新成为引领发展的核心要素，而管理者过度自信作为一种非理性心理特征，对企业投资决策、经营管理等方面有重要影响作用。因此，本文以 2010 至 2020 年度 A 股上市公司为样本,探 究管理者过度自信带来的创新活动的价值。研究发现，管理者过度自信不仅促进了企业创新数量，还提升了创新效率。此外，在高新技术企业中过度自信管理者对企业创新的促进作用更大。但是，管理者过度自信促进的创新可能是过度创新投资的一种表现，最终对企业绩效产生负向影响。

With the vigorous development of a new round of scientific and technological revolution, scientific and technological innovation has become the core element leading development, and managerial overconfidence, as an irrational psychological characteristic, has an important impact on enterprise investment decision-making, operation and management. Therefore, this paper takes A-share listed companies from 2010 to 2020 as a sample to explore the value of innovation activities brought about by managers' overconfidence. The results show that managerial overconfidence not only promotes the quantity of enterprise innovation, but also improves the efficiency of innovation. In addition, role of overconfident managers in promoting enterprise innovation is greater in high-tech enterprises. However, the innovation promoted by managers' overconfidence may be a manifestation of over-investment in innovation, which ultimately has a negative impact on firm performance.