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Managerial optimism and investment decision in the UK (2021)
Journal Article
El-Gebeily, E., Guermat, C., & Vendrame, V. (2021). Managerial optimism and investment decision in the UK. Journal of Behavioral and Experimental Finance, 31, Article 100519. https://doi.org/10.1016/j.jbef.2021.100519

We investigate the impact of managerial optimism on investment decision sensitivity to cash flow. Optimists tend to overestimate returns and make overly optimistic cash flow forecasts, which leads to increased investment levels, as well as increased... Read More about Managerial optimism and investment decision in the UK.