CEO Managerial Ability, Corporate Investment Quality, and the Value of Cash

  title={CEO Managerial Ability, Corporate Investment Quality, and the Value of Cash},
  author={Huiqi Gan},
The Managerial Ability and Value of Cash: Evidence from Iran
This study investigates empirically the value investors place in excess cash holdingand how managerial ability impact on the value of cash holding for Iranianfirms from 2006 to 2014. In thisExpand
Do Talented Managers Invest More Efficiently? The Moderating Role of Corporate Governance Mechanisms
Manuscript type. Empirical. Research question/issue. The main objective of this paper is to examine the influence of managerial ability on investment efficiency. Using a sample of 2185 firms from 24Expand
The Study of Enterprise Risk Management (ERM) Effect on the Relationship between Managerial Ability and Investment Efficiency Increase
This study investigates how ERM (Enterprise Risk Management) affects the relation of managerial ability and investment efficiency. According to theory, investment efficiency increases when thatExpand


Management Entrenchment the Case of Manager-specific Investments*
We describe how managers can entrench themselves by making manager-specific investments that make it costly for shareholders to replace them. By making manager-specific investments. managers canExpand
Do Managerial Objectives Drive Bad Acquisitions?
This paper documents for a sample of 327 US acquisitions between 1975 and 1987 three forces that systematically reduce the announcement day return of bidding firms. The returns to biddingExpand
Methods of Valuation for Mergers and Acquisitions
This note addresses the methods used to value companies in an M&A (mergers and acquisitions) setting. It provides a detailed description of the discounted-cash-flow (DCF) approach and reviews otherExpand
Corporate governance and firm cash holdings in the US
Using governance metrics based on antitakeover provisions and inside ownership, we find that firms with weaker corporate governance structures actually have smaller cash reserves. When distributingExpand
Corporate capital budgeting and CEO turnover
When a firm has minimal agency and informational asymmetry problems it should make efficient capital budgeting decisions. Many firms over-invest prior to CEO turnover, halt investments in the periodExpand
Accounting Quality and Firm-Level Capital Investment
This study examines how accounting quality relates to firm-level capital investment efficiency. Our first hypothesis is that higher quality accounting enhances investment efficiency by reducingExpand
Corporate Governance and Acquirer Returns
We examine whether corporate governance mechanisms, especially the market for corporate control, affect the profitability of firm acquisitions. We find that acquirers with more antitakeoverExpand
The Method of Payment in Corporate Acquisitions, Investment Opportunities, and Management Ownership
This article examines the motives underlying the payment method in corporate acquisitions. The findings support the notion that the higher the acquirer's growth opportunities, the more likely theExpand
Founder-CEOs, Investment Decisions, and Stock Market Performance
Abstract Eleven percent of the largest public U.S. firms are headed by the CEO who founded the firm. Founder-CEO firms differ systematically from successor-CEO firms with respect to firm valuation,Expand
Does Investment-Related Pressure Lead to Misreporting? An Analysis of Reporting Following M&A Transactions
ABSTRACT: This study examines whether managers alter their financial reporting decisions in the face of investment-related pressure. We define investment-related pressure as the increased pressure ...