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Harford, J. (1999) Corporate Cash Reserves and Acquisitions. The Journal of Finance, 54, 1969-1997. http://dx.doi.org/10.1111/0022-1082.00179
has been cited by the following article:
TITLE: Over-Investment of Free Cash Flow during CEO’s Tenure
AUTHORS: Xia Jiang
KEYWORDS: Over-Investment, Free Cash Flow, Tenure
JOURNAL NAME: Technology and Investment, Vol.7 No.3, July 28, 2016
ABSTRACT: This paper examines the relationship between CEO’s tenure and their firm’s investment efficiency. Over-investment is greater in the early years than in the later years of CEO’s service. Consistent with prior literature, the results also suggest over-investment increases with firm’s internally-generated cash flow.
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