This study utilizes the upper echelons and time orientation theoretical frameworks to analyze the impact of managers' temporal disposition on financial asset allocation within corporations. Through textual analysis and panel data analysis, the study demonstrates a positive correlation between...

We examine the role and economic consequences of emotions in influencing the judgment of corporate executives. Analyzing a large sample of U.S. public firms, we find that sunshine-induced good mood leads managers to make upwardly biased earnings forecasts. Importantly, our evidence implies that...