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 …

French managers. Three different types of decisions are analyzed:investment decisions, financing decisions and payout …

leveraged buyout transactions implementation during the private equity investment in the conditions of the resonant absorption …

leveraged buyout transactions implementation during the private equity investment in the conditions of the resonant absorption … buyout transactions implementation during the private equity investment in the conditions of the resonant absorption of …

investor protection law on firm financing decisions and investment activity. The statutes induce firms to increase dividends …

leveraged buyout transactions implementation during the private equity investment in the conditions of the resonant absorption … buyout transactions implementation during the private equity investment in the conditions of the resonant absorption of …

contracts (PSD). Optimistic managers may view PSD as a relatively cheap form of financing given their upwardly biased … expectations about the firm’s future cash flow. Indeed, we find that optimistic managers are more likely to issue PSD, and choose … contracts with greater performance-pricing sensitivity than rational managers. Consistent with their biased expectations, firms …

This study investigates the relationship between managerial optimism, investment efficiency and firm valuation. This … managerial optimism on improving investment efficiency and firm value when firms tend to under-invest or over-invest. The results … indicate that an under-invested firm with a CEO who has a higher level of managerial optimism can improve the firm’s investment …