The Underinvestment and Overinvestment Hypotheses: An Analysis Using Panel Data
By Arthur Morgado, Julio Pindado. 2003
126 citations recorded by the source corpus.
Subfields: Accounting, Finance, Strategy and Management
View Paper: https://www.semanticscholar.org/paper/63226ea21d0d976612d9ad75e9718e5cd1f2c69d
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Citations in the corpus
- Is Investment-Cash Flow Sensitivity Caused by Agency Costs or Asymmetric Information? Evidence from the UK (2005, unknown): “Subsequently, one can use these regions in the investment equation (see e.g. Morgado and Pindado, 2003).”
- Ownership Structure and Firm Performance: Evidence from Vietnamese Listed Firms (2016, background): “The investment variable is negative and significant, which indicates that overinvestment caused by conflict between managers and shareholders may damage firm performance (Morgado & Pindado, 2003).”
- Does bankruptcy law improve the fate of distressed firms? The role of credit channels (2020, background): “The reason for this is that financially distressed firms may experience greater problems because of suboptimal investment decisions, thus significantly affecting their performance (Morgado and Pindado, 2003).”
- Family control and investment–cash flow sensitivity: Empirical evidence from the Euro zone (2011, unknown): “40 able to reach an investment level closer to the optimum, thus being less likely to suffer from underinvestment and overinvestment problems (Morgado and Pindado, 2003).”