Purpose This study aims to investigate the influence of macro-financial conditions on firm-level capital allocation as a micro-transmission mechanism of monetary policy in Vietnam. Design/methodology/approach The authors employ a dynamic model of investment based on the Euler equation approach...

Purpose: This paper examines the effects of managerial optimism on corporate cash holdings. Design/methodology/approach: The authors construct a novel measure of managerial optimism based on the linguistic tone of annual reports by applying a Naïve Bayesian Machine Learning algorithm to...