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consider the financing problem of an entrepreneur who has access to two investment projects and needs to raise external …
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This essay surveys the body of research that asks how the efficiency of corporate investment is influenced by problems … that the marginal return to investment in firm i is the same as the marginal return to investment in firm j ? Second, do … capital budgeting process get within-firm allocations right, so that the marginal return to investment in firm i ’s division A …
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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 …
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effect on investment in training, but substantially reduce investment in physical capital. …
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risk taking. One of the objectives is the motivation of further research on the topic. Risk-averse managers hold less …
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This study investigates the effect of managerial ability on labor productivity by analyzing various methods in the firm-year panel data of listed firms in South Korea from 2002 to 2019. Managerial ability was analyzed using the measurement method of Demerjian et al. (2012), while labor...
Persistent link: https://www.econbiz.de/10014375175
We survey the theory and evidence of behavioral corporate finance, which generally takes one of two approaches. The … market timing and catering approach views managerial financing and investment decisions as rational managerial responses to … securities mispricing. The managerial biases approach studies the direct effects of managers’ biases and nonstandard preferences …
Persistent link: https://www.econbiz.de/10014025559