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 …

Purpose: The purpose of this paper is to examine the impact of managerial optimism on corporate investment regarding … the financially constrained firms for the case of Greece. Taking as a fact that managers principally are optimistic and … often overconfident an effort is made to highlight the effect of this psychological bias on managerial investment decision …

We develop a model that shows how rent-seeking behavior on the part of division managers can subvert the workings of an … bribes to some division managers. And because headquarters is itself an agent of outside investors, the bribes may take the …