Combining studies on real options theory and economic short-termism, we propose that, depending on CEOs' career horizons, CEOs will have heterogeneous interests in and incentives to make real options investments. We argue that compared to CEOs with longer career horizons, CEOs with shorter...

Corporate political geography influences the value of real options because proximity to political power can trigger greater exposure to uncertainty and/or more growth opportunities. Our empirical tests reveal that although areas closely aligned with the president experience a boost in real...