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

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Year of publication:	2014
Authors:	Ben Mohamed, Ezzeddine
Other Persons:	Souissi, Mohamed Naceur (contributor) ; Baccar, Amel (contributor) ; Bouri, Abdelfettah (contributor)
Publisher:	[2014]: [S.l.] : SSRN
Subject:	Cash Flow \| Cash flow \| Investition \| Investment \| Führungskräfte \| Managers \| Eigentümerstruktur \| Ownership structure

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Extent:	1 Online-Ressource (6 p)
Type of publication:	Book / Working Paper
Language:	English
Notes:	In: Journal of Economics, Finance & Administrative Science, Vol. 19, p. 98, 2014 Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments December 3, 2014 erstellt
Classification:	g02 ; G30 - Corporate Finance and Governance. General ; G31 - Capital Budgeting; Investment Policy ; G32 - Financing Policy; Capital and Ownership Structure
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10013043096