CEO's personal characteristics, ownership and investment cash flow sensitivity: evidence from NYSE panel data firms

Descripción del Articulo

This study tries to extend previous works on behavioral corporate finance by examining the interaction between 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...

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Detalles Bibliográficos
Autores: Mohamed, Ezzeddine Ben, Souissi, Mohamed Naceur, Baccar, Amel, Bouri, Abdelfettah
Formato: artículo
Fecha de Publicación:2014
Institución:Universidad ESAN
Repositorio:ESAN-Institucional
Lenguaje:inglés
OAI Identifier:oai:repositorio.esan.edu.pe:20.500.12640/2627
Enlace del recurso:https://revistas.esan.edu.pe/index.php/jefas/article/view/186
https://hdl.handle.net/20.500.12640/2627
https://doi.org/10.1016/j.jefas.2014.10.002
Nivel de acceso:acceso abierto
Materia:Financial education
Technical education
Ownership
Managerial optimism
Corporate investment
Formación financiera
Formación técnica
Titularidad
Optimismo gerencial
Inversión corporativa
https://purl.org/pe-repo/ocde/ford#5.02.04
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spelling Mohamed, Ezzeddine BenSouissi, Mohamed NaceurBaccar, AmelBouri, Abdelfettah2021-11-04T16:48:55Z2021-11-04T16:48:55Z2014-12-30https://revistas.esan.edu.pe/index.php/jefas/article/view/186Mohamed, E. B., Souissi, M. N., Baccar, A., & Bouri, A. (2014). CEO’s personal characteristics, ownership and investment cash flow sensitivity: evidence from NYSE panel data firms. Journal of Economics, Finance and Administrative Science, 19(37), 98-103. https://doi.org/10.1016/j.jefas.2014.10.002https://hdl.handle.net/20.500.12640/2627https://doi.org/10.1016/j.jefas.2014.10.002This study tries to extend previous works on behavioral corporate finance by examining the interaction between 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 affect investment cash flow's relationship.Este estudio trata de ampliar los trabajos previos sobre el comportamiento de la financiación corporativa, mediante el examen de la interacción entre la sensibilidad del flujo de caja de inversión y las diversas características de los directores ejecutivos (CEO), en términos de existencia o no existencia de un optimismo gerencial. Utilizando un modelo de inversión Q, y partiendo de una muestra de 475 observaciones anuales, nuestros resultados subrayan que la formación financiera, la titularidad, y las tendencias del optimismo de los CEO pueden explicar las distorsiones de las políticas de inversión corporativa, ya que estas afectan a la relación del flujo de caja de inversión.application/pdfInglésengUniversidad ESAN. ESAN EdicionesPEurn:issn:2218-0648https://revistas.esan.edu.pe/index.php/jefas/article/view/186/325Attribution 4.0 Internationalinfo:eu-repo/semantics/openAccesshttps://creativecommons.org/licenses/by/4.0/Financial educationTechnical educationOwnershipManagerial optimismCorporate investmentFormación financieraFormación técnicaTitularidadOptimismo gerencialInversión corporativahttps://purl.org/pe-repo/ocde/ford#5.02.04CEO's personal characteristics, ownership and investment cash flow sensitivity: evidence from NYSE panel data firmsinfo:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersionArtículoreponame:ESAN-Institucionalinstname:Universidad ESANinstacron:ESANJournal of Economics, Finance and Administrative Science103379819Acceso abiertoTHUMBNAIL37.jpg37.jpgimage/jpeg7531https://repositorio.esan.edu.pe/bitstreams/840248e9-0bcc-48ae-be34-e2a196b58e81/downloadea167bfbff1392f72228761955d98182MD51falseAnonymousREADJEFAS-37-2014-98-103.pdf.jpgJEFAS-37-2014-98-103.pdf.jpgGenerated Thumbnailimage/jpeg5228https://repositorio.esan.edu.pe/bitstreams/f25719bf-4e1e-4563-a782-93c03aea357c/download2c77ded71a5345abae73c71d6fad94bfMD54falseAnonymousREADORIGINALJEFAS-37-2014-98-103.pdfTexto completoapplication/pdf521534https://repositorio.esan.edu.pe/bitstreams/a3c62093-a8eb-4c85-888f-bc0afe1555fd/download330749b2d8c74e7f72996efaace832faMD52trueAnonymousREADTEXTJEFAS-37-2014-98-103.pdf.txtJEFAS-37-2014-98-103.pdf.txtExtracted texttext/plain90222https://repositorio.esan.edu.pe/bitstreams/24db44e6-9778-4b35-b4db-6501d3e36bdf/downloadb07fb61681d93afed902b966a9125692MD53falseAnonymousREAD20.500.12640/2627oai:repositorio.esan.edu.pe:20.500.12640/26272025-07-09 09:30:11.007https://creativecommons.org/licenses/by/4.0/Attribution 4.0 Internationalopen.accesshttps://repositorio.esan.edu.peRepositorio Institucional ESANrepositorio@esan.edu.pe
dc.title.en_EN.fl_str_mv CEO's personal characteristics, ownership and investment cash flow sensitivity: evidence from NYSE panel data firms
title CEO's personal characteristics, ownership and investment cash flow sensitivity: evidence from NYSE panel data firms
spellingShingle CEO's personal characteristics, ownership and investment cash flow sensitivity: evidence from NYSE panel data firms
Mohamed, Ezzeddine Ben
Financial education
Technical education
Ownership
Managerial optimism
Corporate investment
Formación financiera
Formación técnica
Titularidad
Optimismo gerencial
Inversión corporativa
https://purl.org/pe-repo/ocde/ford#5.02.04
title_short CEO's personal characteristics, ownership and investment cash flow sensitivity: evidence from NYSE panel data firms
title_full CEO's personal characteristics, ownership and investment cash flow sensitivity: evidence from NYSE panel data firms
title_fullStr CEO's personal characteristics, ownership and investment cash flow sensitivity: evidence from NYSE panel data firms
title_full_unstemmed CEO's personal characteristics, ownership and investment cash flow sensitivity: evidence from NYSE panel data firms
title_sort CEO's personal characteristics, ownership and investment cash flow sensitivity: evidence from NYSE panel data firms
author Mohamed, Ezzeddine Ben
author_facet Mohamed, Ezzeddine Ben
Souissi, Mohamed Naceur
Baccar, Amel
Bouri, Abdelfettah
author_role author
author2 Souissi, Mohamed Naceur
Baccar, Amel
Bouri, Abdelfettah
author2_role author
author
author
dc.contributor.author.fl_str_mv Mohamed, Ezzeddine Ben
Souissi, Mohamed Naceur
Baccar, Amel
Bouri, Abdelfettah
dc.subject.en_EN.fl_str_mv Financial education
Technical education
Ownership
Managerial optimism
Corporate investment
topic Financial education
Technical education
Ownership
Managerial optimism
Corporate investment
Formación financiera
Formación técnica
Titularidad
Optimismo gerencial
Inversión corporativa
https://purl.org/pe-repo/ocde/ford#5.02.04
dc.subject.es_ES.fl_str_mv Formación financiera
Formación técnica
Titularidad
Optimismo gerencial
Inversión corporativa
dc.subject.ocde.none.fl_str_mv https://purl.org/pe-repo/ocde/ford#5.02.04
description This study tries to extend previous works on behavioral corporate finance by examining the interaction between 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 affect investment cash flow's relationship.
publishDate 2014
dc.date.accessioned.none.fl_str_mv 2021-11-04T16:48:55Z
dc.date.available.none.fl_str_mv 2021-11-04T16:48:55Z
dc.date.issued.fl_str_mv 2014-12-30
dc.type.none.fl_str_mv info:eu-repo/semantics/article
dc.type.version.none.fl_str_mv info:eu-repo/semantics/publishedVersion
dc.type.other.none.fl_str_mv Artículo
format article
status_str publishedVersion
dc.identifier.none.fl_str_mv https://revistas.esan.edu.pe/index.php/jefas/article/view/186
dc.identifier.citation.none.fl_str_mv Mohamed, E. B., Souissi, M. N., Baccar, A., & Bouri, A. (2014). CEO’s personal characteristics, ownership and investment cash flow sensitivity: evidence from NYSE panel data firms. Journal of Economics, Finance and Administrative Science, 19(37), 98-103. https://doi.org/10.1016/j.jefas.2014.10.002
dc.identifier.uri.none.fl_str_mv https://hdl.handle.net/20.500.12640/2627
dc.identifier.doi.none.fl_str_mv https://doi.org/10.1016/j.jefas.2014.10.002
url https://revistas.esan.edu.pe/index.php/jefas/article/view/186
https://hdl.handle.net/20.500.12640/2627
https://doi.org/10.1016/j.jefas.2014.10.002
identifier_str_mv Mohamed, E. B., Souissi, M. N., Baccar, A., & Bouri, A. (2014). CEO’s personal characteristics, ownership and investment cash flow sensitivity: evidence from NYSE panel data firms. Journal of Economics, Finance and Administrative Science, 19(37), 98-103. https://doi.org/10.1016/j.jefas.2014.10.002
dc.language.none.fl_str_mv Inglés
dc.language.iso.none.fl_str_mv eng
language_invalid_str_mv Inglés
language eng
dc.relation.ispartof.none.fl_str_mv urn:issn:2218-0648
dc.relation.uri.none.fl_str_mv https://revistas.esan.edu.pe/index.php/jefas/article/view/186/325
dc.rights.en.fl_str_mv Attribution 4.0 International
dc.rights.es_ES.fl_str_mv info:eu-repo/semantics/openAccess
dc.rights.uri.none.fl_str_mv https://creativecommons.org/licenses/by/4.0/
rights_invalid_str_mv Attribution 4.0 International
https://creativecommons.org/licenses/by/4.0/
eu_rights_str_mv openAccess
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dc.publisher.none.fl_str_mv Universidad ESAN. ESAN Ediciones
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CEO's personal characteristics, ownership and investment cash flow sensitivity: evidence from NYSE panel data firms
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