Managerial ability and corporate investment opportunity

Chien Chiang Lee, Chih Wei Wang, Wan Chien Chiu, Te Sheng Tien

研究成果: 雜誌貢獻期刊論文同行評審

77 引文 斯高帕斯(Scopus)

摘要

This study examines whether firms operated by superior managers can obtain more favorable investment opportunities using data on U.S. industrial firms during 1988–2015. The empirical results disclose that there exists a positive relationship between managerial ability and investment opportunity, and that the relation is only significant in financially unconstrained firms or firms in a strong financial position. Overall, our findings support that firms having managers with superior ability could gain more economic profits via better investment opportunity. Through our research, policy makers and investors can pay more attention on managerial ability.

原文???core.languages.en_GB???
頁(從 - 到)65-76
頁數12
期刊International Review of Financial Analysis
57
DOIs
出版狀態已出版 - 5月 2018

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