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Impact of the growth opportunities of influential firms on future investment intentions: A cross-country study

Author

Listed:
  • Raffaele Staglianò

    (MRM - Montpellier Research in Management - UPVM - Université Paul-Valéry - Montpellier 3 - UPVD - Université de Perpignan Via Domitia - Groupe Sup de Co Montpellier (GSCM) - Montpellier Business School - UM - Université de Montpellier, Groupe Sup de Co Montpellier (GSCM) - Montpellier Business School)

  • Guillaume Andrieu

    (MRM - Montpellier Research in Management - UPVM - Université Paul-Valéry - Montpellier 3 - UPVD - Université de Perpignan Via Domitia - Groupe Sup de Co Montpellier (GSCM) - Montpellier Business School - UM - Université de Montpellier, Groupe Sup de Co Montpellier (GSCM) - Montpellier Business School)

Abstract

Using a global database, we examine whether perceived firm influence on policymaking affects the sensitivity of future investment intentions to current growth opportunities. The empirical results indicate that sensitivity increases with political influence, possibly because greater political connections enhance the propensity to invest due to the expected profitability.

Suggested Citation

  • Raffaele Staglianò & Guillaume Andrieu, 2017. "Impact of the growth opportunities of influential firms on future investment intentions: A cross-country study," Post-Print hal-02279485, HAL.
    • Handle: RePEc:hal:journl:hal-02279485
    DOI: 10.1016/j.frl.2016.12.009
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    Cited by:

    1. Chang, Kai & Ding, Jiehuan & Lou, Qichun & Li, Zesheng & Yang, Jiahui, 2021. "The impact of capital leverage on green firms’ investment: New evidence regarding the size and age effects of Chinese green industries," Finance Research Letters, Elsevier, vol. 38(C).
    2. Emmanuel Adu‐Ameyaw & Albert Danso & Linda Hickson, 2022. "Growth opportunity and investment policy: The role of managerial incentives," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 43(8), pages 3634-3646, December.

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