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, naceur Souissi, Mohamed, Baccar, Amel, Bouri, Abdelfettah
Formato: artículo
Fecha de Publicación:2014
Institución:Universidad ESAN
Repositorio:Revistas - Universidad ESAN
Lenguaje:inglés
OAI Identifier:oai:ojs.pkp.sfu.ca:article/186
Enlace del recurso:https://revistas.esan.edu.pe/index.php/jefas/article/view/186
Nivel de acceso:acceso abierto
Materia:Financial education
Technical education
Ownership
Managerial optimism
Corporate investment
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spelling CEO's personal characteristics, ownership and investment cash flow sensitivity: Evidence from NYSE panel data firmsMohamed, Ezzeddine Ben naceur Souissi, Mohamed Baccar, Amel Bouri, Abdelfettah Financial educationTechnical educationOwnershipManagerial optimismCorporate investmentThis 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. DOI: http://dx.doi.org/10.1016/j.jefas.2014.10.002Universidad ESAN2014-12-30info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersionPeer-reviewed Articleapplication/pdfhttps://revistas.esan.edu.pe/index.php/jefas/article/view/186Journal of Economics, Finance and Administrative Science; Vol. 19 No. 37 (2014): July - December; 98-103Journal of Economics, Finance and Administrative Science; Vol. 19 Núm. 37 (2014): July - December; 98-1032218-06482077-1886reponame:Revistas - Universidad ESANinstname:Universidad ESANinstacron:ESANenghttps://revistas.esan.edu.pe/index.php/jefas/article/view/186/325Copyright (c) 2021 Journal of Economics, Finance and Administrative Sciencehttps://creativecommons.org/licenses/by/4.0/info:eu-repo/semantics/openAccessoai:ojs.pkp.sfu.ca:article/1862021-09-15T03:29:13Z
dc.title.none.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
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
dc.creator.none.fl_str_mv Mohamed, Ezzeddine Ben
naceur Souissi, Mohamed
Baccar, Amel
Bouri, Abdelfettah
author Mohamed, Ezzeddine Ben
author_facet Mohamed, Ezzeddine Ben
naceur Souissi, Mohamed
Baccar, Amel
Bouri, Abdelfettah
author_role author
author2 naceur Souissi, Mohamed
Baccar, Amel
Bouri, Abdelfettah
author2_role author
author
author
dc.subject.none.fl_str_mv Financial education
Technical education
Ownership
Managerial optimism
Corporate investment
topic Financial education
Technical education
Ownership
Managerial optimism
Corporate investment
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. DOI: http://dx.doi.org/10.1016/j.jefas.2014.10.002
publishDate 2014
dc.date.none.fl_str_mv 2014-12-30
dc.type.none.fl_str_mv info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
Peer-reviewed Article
format article
status_str publishedVersion
dc.identifier.none.fl_str_mv https://revistas.esan.edu.pe/index.php/jefas/article/view/186
url https://revistas.esan.edu.pe/index.php/jefas/article/view/186
dc.language.none.fl_str_mv eng
language eng
dc.relation.none.fl_str_mv https://revistas.esan.edu.pe/index.php/jefas/article/view/186/325
dc.rights.none.fl_str_mv Copyright (c) 2021 Journal of Economics, Finance and Administrative Science
https://creativecommons.org/licenses/by/4.0/
info:eu-repo/semantics/openAccess
rights_invalid_str_mv Copyright (c) 2021 Journal of Economics, Finance and Administrative Science
https://creativecommons.org/licenses/by/4.0/
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
dc.publisher.none.fl_str_mv Universidad ESAN
publisher.none.fl_str_mv Universidad ESAN
dc.source.none.fl_str_mv Journal of Economics, Finance and Administrative Science; Vol. 19 No. 37 (2014): July - December; 98-103
Journal of Economics, Finance and Administrative Science; Vol. 19 Núm. 37 (2014): July - December; 98-103
2218-0648
2077-1886
reponame:Revistas - Universidad ESAN
instname:Universidad ESAN
instacron:ESAN
instname_str Universidad ESAN
instacron_str ESAN
institution ESAN
reponame_str Revistas - Universidad ESAN
collection Revistas - Universidad ESAN
repository.name.fl_str_mv
repository.mail.fl_str_mv
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score 12.85435
CEO's personal characteristics, ownership and investment cash flow sensitivity: Evidence from NYSE panel data firms
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