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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.