In this study, we analyse the effect of financial uncertainty on corporate investment using firm-level panel data from … the Republic of Korea. We find that financial uncertainty has a significant negative effect on corporate investment, and … constraints and investment irreversibility amplify the negative effect of uncertainty. The inverted U-shaped curve of the …

This study is undertaken to determine the relative impacts of the uncertainty of macroeconomic variables on investment … revealed the following: (1) existence of long run relationship between some of the macroeconomic variables and investment, (2 … uncertainty of most of the macroeconomic variables impact negatively on investment in Nigeria. The study recommends the use of …

The aim of this paper is to investigate the effect of economic policy uncertainty on firms' investment decisions. We … (EPU) indicator available for this country. We find strong evidence that uncertainty reduces corporate investment. This …-related uncertainty reduces corporate investment through increases in precautionary savings or to worsening of credit conditions. …

Purpose: The purpose of this paper is to examine the impact of managerial optimism on corporate investment regarding … often overconfident an effort is made to highlight the effect of this psychological bias on managerial investment decision … – making. Design/methodology/approach: The research methodology is based on the approach that the investment-cash flow …

goal is therefore, to find whether managerial optimism has an impact on corporate investment of Greek firms. Design …/methodology/approach-The investment of firms with optimistic managers is more sensitive to cash flow than the investment of firms with managers who are … managerial optimism affects corporate investment in firms with high degree of closely held shares. Moreover, managerial optimism …

distressed if it breached the minimum capital requirements set by law. The results demonstrate that all the investment …-related factors matter for financial distress, with timing, intensity, sector, and type of investment all playing a role. Furthermore …, the data seem to suggest that investment in tangibles is more cycle-sensitive for the transport and construction and real …

The study investigates the role of financial development in boosting the investment efficiency of firms' investments in … concludes that firms suffering from under- (over-) investment problem due to financing constraints (agency problem), are more … likely to increase (decrease) their investment' in the response of underlying financial development in the economy. This …

Investment cash flow sensitivity constitutes one important block of the corporate financial literature. While it is … the investment cash flow sensitivity among panel data of American industrial firms during 1999-2010. Using Q-model of … investment (Tobin, 1969), we construct and introduce a proxy of managerial optimism following Malmendier and Tate (2005a) to show …

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 …