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The Underinvestment and Overinvestment Hypotheses: an Analysis Using Panel Data

Citations

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Cited by:

  1. Ahmad, Muhammad Munir & Hunjra, Ahmed Imran & Taskin, Dilvin, 2023. "Do asymmetric information and leverage affect investment decisions?," The Quarterly Review of Economics and Finance, Elsevier, vol. 87(C), pages 337-345.
  2. Syed Manzur Quader & Mohammad Nayeem Abdullah, 2020. "How financial market in Bangladesh appraises efficiency?," Economic Change and Restructuring, Springer, vol. 53(3), pages 475-494, August.
  3. Mioduchowska-Jaroszewicz Edyta, 2020. "An Analysis of Entrepreneurship in Family-Owned Stock Companies," Folia Oeconomica Stetinensia, Sciendo, vol. 20(1), pages 266-285, June.
  4. Valentina Peruzzi, 2017. "Does family ownership structure affect investment-cash flow sensitivity? Evidence from Italian SMEs," Applied Economics, Taylor & Francis Journals, vol. 49(43), pages 4378-4393, September.
  5. Poudineh, Rahmatallah & Jamasb, Tooraj, 2016. "Determinants of investment under incentive regulation: The case of the Norwegian electricity distribution networks," Energy Economics, Elsevier, vol. 53(C), pages 193-202.
  6. Alvarez, Roberto & Jara, Mauricio & Pombo, Carlos, 2018. "Do institutional blockholders influence corporate investment? Evidence from emerging markets," Journal of Corporate Finance, Elsevier, vol. 53(C), pages 38-64.
  7. Sung Gyun Mun & SooCheong (Shawn) Jang, 2022. "Explaining the asset growth anomaly in the restaurant industry: Motivations and consequences," Tourism Economics, , vol. 28(1), pages 62-82, February.
  8. Mahmoud Moeinadin & Jamal Barzagari Khaneghah & Jamal Tabatabaei Mazraehno, 2013. "Investigating the Effect of Audit Quality on Over-investment Using Measures of Auditor Specialty and Audit Tenure for Listed Companies in Tehran Stock Exchange," International Journal of Academic Research in Accounting, Finance and Management Sciences, Human Resource Management Academic Research Society, International Journal of Academic Research in Accounting, Finance and Management Sciences, vol. 3(4), pages 229-244, October.
  9. Maria Elisabete Duante Neves, 2017. "Payout and Firm's Catering," International Journal of Economics & Business Administration (IJEBA), International Journal of Economics & Business Administration (IJEBA), vol. 0(4), pages 104-132.
  10. Dinithi Ranasinghe, 2021. "Managerial entrenchment, financial constraints, and investment choice in unlisted firms," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 26(1), pages 258-270, January.
  11. Rahmatallah Poudineh & Tooraj Jamasb, 2013. "Investment and Efficiency under Incentive Regulation: The Case of the Norwegian Electricity Distribution Networks," Cambridge Working Papers in Economics 1310, Faculty of Economics, University of Cambridge.
  12. Murro, Pierluigi & Peruzzi, Valentina, 2019. "Family firms and access to credit. Is family ownership beneficial?," Journal of Banking & Finance, Elsevier, vol. 101(C), pages 173-187.
  13. Marc B.J. Schauten & Dick van Dijk & Jan†Paul van der Waal, 2013. "Corporate Governance and the Value of Excess Cash Holdings of Large European Firms," European Financial Management, European Financial Management Association, vol. 19(5), pages 991-1016, November.
  14. Muhammad Sadiq Shahid & Razaz Houssien Felimban & Khawar Naheed & Usman Aleem & Shaiza Nawaz, 2018. "Ownership Structures, Investors Confidence And Financial Decisions In Family Firms: Evidence From Gcc Markets," IBT Journal of Business Studies (JBS), Ilma University, Faculty of Management Science, vol. 14(1), pages 14-15.
  15. Quader, Syed Manzur, 2023. "The interplay between uncertainty, managerial decision making, and firm value: Evidence from Bangladesh," Journal of Economics and Business, Elsevier, vol. 123(C).
  16. Mamunur Rashid & Fauzias Mat Nor & Izani Ibrahim, 2013. "Evidence of Dividend Catering Theory in Malaysia: Implications for Investor Sentiment," Contemporary Economics, University of Economics and Human Sciences in Warsaw., vol. 7(4), December.
  17. Grzegorz Pawlina & Luc Renneboog, 2005. "Is Investment‐Cash Flow Sensitivity Caused by Agency Costs or Asymmetric Information? Evidence from the UK," European Financial Management, European Financial Management Association, vol. 11(4), pages 483-513, September.
  18. Pindado, Julio & Requejo, Ignacio & de la Torre, Chabela, 2011. "Family control and investment–cash flow sensitivity: Empirical evidence from the Euro zone," Journal of Corporate Finance, Elsevier, vol. 17(5), pages 1389-1409.
  19. Fabio Bertoni & Massimo G. Colombo & Annalisa Croce, 2010. "The Effect of Venture Capital Financing on the Sensitivity to Cash Flow of Firm's Investments," European Financial Management, European Financial Management Association, vol. 16(4), pages 528-551, September.
  20. Nicolae BIBU & Ariana Lavinia MOS, 2012. "Leadership Style in the Romanian Public Institutions – the Case of City Halls," REVISTA DE MANAGEMENT COMPARAT INTERNATIONAL/REVIEW OF INTERNATIONAL COMPARATIVE MANAGEMENT, Faculty of Management, Academy of Economic Studies, Bucharest, Romania, vol. 13(1), pages 66-80, March.
  21. Hsiao-Fen Hsiao & Tingyong Zhong & Hasan Dincer, 2019. "Analysing Managers’ Financial Motivation for Sustainable Investment Strategies," Sustainability, MDPI, vol. 11(14), pages 1-22, July.
  22. Yu, Huaibing, 2024. "Why isn't composite equity issuance favored by the stock market? A risk-based explanation for the anomaly," International Review of Financial Analysis, Elsevier, vol. 94(C).
  23. Kevin Amess & Sourafel Girma, 2009. "Do Stock Markets Value Efficiency?," Scottish Journal of Political Economy, Scottish Economic Society, vol. 56(3), pages 321-331, July.
  24. Mehmet Balcilar & Serhan Çiftçioğlu & Hasan Güngör, 2016. "The Effects Of Financial Development On Investment In Turkey," The Singapore Economic Review (SER), World Scientific Publishing Co. Pte. Ltd., vol. 61(04), pages 1-21, September.
  25. Quoc Trung Nguyen Kim, 2022. "The Effect of Agency Problem and Internal Control on Credit Risk at Commercial Banks in Vietnam," International Journal of Asian Business and Information Management (IJABIM), IGI Global, vol. 13(1), pages 1-22, January.
  26. Yoojin Shin & Jungmi Park, 2022. "Differences in Tax Avoidance According to Corporate Sustainability with a Focus on Delisted Firms," Sustainability, MDPI, vol. 14(11), pages 1-13, May.
  27. Duc Nam Phung & Anil V. Mishra, 2016. "Ownership Structure and Firm Performance: Evidence from Vietnamese Listed Firms," Australian Economic Papers, Wiley Blackwell, vol. 55(1), pages 63-98, March.
  28. Zunxin Zheng & Donghui Li & Tingyong Zhong & Tian Wang & Ling He, 2023. "CEO facial structure and stock price crash risk," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 63(S1), pages 873-905, April.
  29. Lozano, M. Belén & Yaman, Serhat, 2020. "The determinants of cash flow sensitivity of cash: The family ownership effect," Research in International Business and Finance, Elsevier, vol. 53(C).
  30. Saona, Paolo & Vallelado, Eleuterio & San Martín, Pablo, 2020. "Debt, or not debt, that is the question: A Shakespearean question to a corporate decision," Journal of Business Research, Elsevier, vol. 115(C), pages 378-392.
  31. repec:ers:journl:v:v:y:2017:i:4:p:104-132 is not listed on IDEAS
  32. Armen Hovakimian & Gayané Hovakimian, 2009. "Cash Flow Sensitivity of Investment," European Financial Management, European Financial Management Association, vol. 15(1), pages 47-65, January.
  33. Muhammad Sadiq Shahid & Razaz Houssien Felimban & Khawar Naheed & Usman Aleem & Shaiza Nawaz, 2018. "Ownership Structures, Investors Confidence And Financial Decisions In Family Firms: Evidence From Gcc Markets," IBT Journal of Business Studies (JBS), Ilma University, Faculty of Management Science, vol. 14(1), pages 52-68.
  34. Isabel Oliveira & Jorge Figueiredo & Maria Faria & Francisco V. Martins, 2024. "Accounting and Macroeconomic Variables Explaining Investment: An Empirical Study with Panel Data in the Portuguese Textile Sector," JRFM, MDPI, vol. 17(8), pages 1-19, August.
  35. Bose, Udichibarna & Filomeni, Stefano & Mallick, Sushanta, 2021. "Does bankruptcy law improve the fate of distressed firms? The role of credit channels," Journal of Corporate Finance, Elsevier, vol. 68(C).
  36. Julio Pindado & Chabela De La Torre, 2009. "Effect of ownership structure on underinvestment and overinvestment: empirical evidence from Spain," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 49(2), pages 363-383, June.
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