Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
10481551 | Pacific-Basin Finance Journal | 2005 | 24 Pages |
Abstract
In this paper we examine the relation between managerial optimism and corporate investment decisions. Analyzing a sample of listed companies in Taiwan, we propose a measure of managerial optimism from management earnings forecasts, and find that in more financing constrained firms, optimistic managers exhibit higher investment-cash flow sensitivity than do non-optimistic managers.
Related Topics
Social Sciences and Humanities
Economics, Econometrics and Finance
Economics and Econometrics
Authors
Yueh-hsiang Lin, Shing-yang Hu, Ming-shen Chen,