Hsiao, Hsiao-Fen; Hsu, Chuan-Ying; Li, Chun-An; Hsu, Ai-Chi - In: Emerging Markets Finance and Trade 47 (2011) 2, pp. 99-111
This study has two objectives: to examine the relationship between managerial sentiment and corporate investment and to examine the relationship between investment and firm value. We use a sample of Taiwanese firms and find that an optimal level of investment that maximizes a firm's value does...