The aim of this paper is to explore the determinants of firm investment decision under the manager’s psychological characteristic. Previous research investigating the relationship between overconfidence and financial decisions has studied investment, financing decisions and firm values....

This paper assumes that managers, investors, or both behave irrationally. In addition, even though scholars have investigated behavioral irrationality from three angles, investor sentiment, investor biases and managerial biases, we focus on the relationship between one of the managerial biases,...

The idea of this paper is to determine the mental models of actors in the firm with respect to the stakeholder approach of corporate governance. The use of the cognitive map to view these diagrams to show the ways of thinking and conceptualization of the stakeholder approach.The paper takes a...

This paper studies the role of governance mechanisms, CEO‟s cognitive characteristics and firms‟ financial features in justifying the CEO‟s escalatory behavior in firm‟s investment decision. This study aims to provide evidence as to whether managers consider the persuasive influence of...