Next Article in Journal
Strategies for a Circular Economy in the Construction and Demolition Sector: Identifying the Factors Affecting the Recommendation of Recycled Concrete
Next Article in Special Issue
Computer-Assisted Concept Analysis of Customer Centricity: A Review of the Literature on Employee Engagement, Culture, Leadership, and Identity Co-Creation
Previous Article in Journal
Analysis of Microbial Communities in Aged Refuse Based on 16S Sequencing
Previous Article in Special Issue
Effects of Sales-Related Capabilities of Personal Selling Organizations on Individual Sales Capability, Sales Behaviors and Sales Performance in Cosmetics Personal Selling Channels
 
 
Search for Articles:
Title / Keyword
Author / Affiliation / Email
Journal
Article Type
 
 
Advanced Search
 
Section
Special Issue
Volume
Issue
Number
Page
 
Journals
Sustainability
Volume 13
Issue 8
10.3390/su13084112
sustainability-logo
Submit to this Journal Review for this Journal Propose a Special Issue
► Article Menu

Article Menu

share Share announcement Help format_quote Cite question_answer Discuss in SciProfiles
first_page
settings
Order Article Reprints
Font Type:
Arial Georgia Verdana
Font Size:
Aa Aa Aa
Line Spacing:
Column Width:
Background:
Article

Investors’ Choices and Strategic Financial Decisions of the Companies. Evidence from an Analysis of the Capital Budgeting Policy Implications on Shares Valuation

by
Andreea Curmei-Semenescu
1,
Elena Valentina Ţilică
1,* and
Cătălin Valeriu Curmei
2
1
Department of Finance and CEFIMO, Faculty of Finance and Banking, Bucharest University of Economic Studies, 5-7 Mihail Moxa Street, 010961 Bucharest, Romania
2
UNESCO Department for Business Administration, Faculty of Business Administration in Foreign Languages, Bucharest University of Economic Studies, 2 Calea Grivitei Street, 010731 Bucharest, Romania
*
Author to whom correspondence should be addressed.
Sustainability 2021, 13(8), 4112; https://doi.org/10.3390/su13084112
Submission received: 21 February 2021 / Revised: 31 March 2021 / Accepted: 5 April 2021 / Published: 7 April 2021
(This article belongs to the Special Issue Customer Relationship Management—Strategies and Business Implications)
Browse Figures
Versions Notes

Abstract

The paper investigates the relationship between companies and their investors in the capital market as part of relationship marketing. It focuses on investors’ preference for a certain capital budgeting policy employed by listed companies. By using statistical analysis, we study whether investors’ reactions can be linked to different patterns of capital budgeting decisions. Our database includes a high number of countries, both developed and emerging, which leads us to focus our analysis on the differences that might occur in investors’ preferences due to specific traits of these markets. Additionally, we include a comparison between investors’ preferences and the information given by the accounting-based performance recorded both in the year of the investment policy and in the next fiscal year. Thus, we observe the extent and limits of the investors’ preference for an active capital budgeting decision, as well as the investors’ rationality around financial crisis.
Keywords: relationship marketing; investors’ preference; investors’ rationality; animal spirits; capital budgeting decisions; capital market development; financing system relationship marketing; investors’ preference; investors’ rationality; animal spirits; capital budgeting decisions; capital market development; financing system

Share and Cite

MDPI and ACS Style

Curmei-Semenescu, A.; Ţilică, E.V.; Curmei, C.V. Investors’ Choices and Strategic Financial Decisions of the Companies. Evidence from an Analysis of the Capital Budgeting Policy Implications on Shares Valuation. Sustainability 2021, 13, 4112. https://doi.org/10.3390/su13084112

AMA Style

Curmei-Semenescu A, Ţilică EV, Curmei CV. Investors’ Choices and Strategic Financial Decisions of the Companies. Evidence from an Analysis of the Capital Budgeting Policy Implications on Shares Valuation. Sustainability. 2021; 13(8):4112. https://doi.org/10.3390/su13084112

Chicago/Turabian Style

Curmei-Semenescu, Andreea, Elena Valentina Ţilică, and Cătălin Valeriu Curmei. 2021. "Investors’ Choices and Strategic Financial Decisions of the Companies. Evidence from an Analysis of the Capital Budgeting Policy Implications on Shares Valuation" Sustainability 13, no. 8: 4112. https://doi.org/10.3390/su13084112

APA Style

Curmei-Semenescu, A., Ţilică, E. V., & Curmei, C. V. (2021). Investors’ Choices and Strategic Financial Decisions of the Companies. Evidence from an Analysis of the Capital Budgeting Policy Implications on Shares Valuation. Sustainability, 13(8), 4112. https://doi.org/10.3390/su13084112

Note that from the first issue of 2016, this journal uses article numbers instead of page numbers. See further details here.

Article Metrics

Back to TopTop