Investor sentiment,corporate governance and corporate investment
| Autor: | Ying-Ying Chu, 朱盈盈 |
|---|---|
| Rok vydání: | 2012 |
| Druh dokumentu: | 學位論文 ; thesis |
| Popis: | 100 Corporate investment is an important decision. This study investigates the relation between investor sentiment and corporate investment of companies listed in Taiwan Stock Exchange. The empirical results show that a positive relation between corporate investment and investor sentiment; over-investment is also significantly positive with investor sentiment. It means that the corporate investment decisions is affected by investor sentiment. When sentiment is optimistic, managers increase investment expenditures in order to cater investor sentiment, resulting companies over-investment. However, corporate governance can decline the impact of investor sentiment and reduce the agency problem. |
| Databáze: | Networked Digital Library of Theses & Dissertations |
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