An overwhelmingly large number of research studies in corporate Finance span the basis formed by chiefly three corporate policies - Financial policy (leverage), dividend policy, and investment policy. The two most oft-cited frictions, agency issues and asymmetric information, add complexities to...

The general positive association between investment opportunities and firm market value has been well-documented by prior cross-industry studies. Differently, this study empirically investigates how the market pricing of investment opportunities is conditional upon the perceived firm ability to...