Artikel
CEO's personal characteristics, ownership and investment cash flow sensitivity: Evidence from NYSE panel data firms
This study tries to extend previous works on behavioral corporate finance by examining the interaction between investment cash flow sensitivity and various CEO characteristics in either the existence or inexistence of managerial optimism. Using a Q-investment model and departing from a sample of 475 annual observations, our results highlight that CEO's financial education, CEO's ownership and their optimism bias can explain distortions in corporate investment policy since they affect investment cash flow's relationship.
- Language
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Englisch
- Bibliographic citation
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Journal: Journal of Economics, Finance and Administrative Science ; ISSN: 2218-0648 ; Volume: 19 ; Year: 2014 ; Issue: 37 ; Pages: 98-103 ; Barcelona: Elsevier España
- Classification
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Wirtschaft
Corporate Finance and Governance: General
Capital Budgeting; Fixed Investment and Inventory Studies; Capacity
Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
- Subject
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Financial education
Technical education
Ownership
Managerial optimism
Corporate investment
Formación financiera
Formación técnica
Titularidad
Optimismo gerencial
Inversión corporativa
- Event
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Geistige Schöpfung
- (who)
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Ben Mohamed, Ezzeddine
Naceur, Mohamed
Baccar, Amel
Bouri, Abdelfettah
- Event
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Veröffentlichung
- (who)
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Elsevier España
- (where)
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Barcelona
- (when)
-
2014
- DOI
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doi:10.1016/j.jefas.2014.10.002
- Handle
- Last update
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10.03.2025, 11:43 AM CET
Data provider
This object is provided by:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Artikel
Associated
- Ben Mohamed, Ezzeddine
- Naceur, Mohamed
- Baccar, Amel
- Bouri, Abdelfettah
- Elsevier España
Time of origin
- 2014
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