CEO’s Emotional Commitment Level and its Firm Capital Structure Choice: Decision Tree Analysis

This research examines the determinants of firms’ capital structure introducing a behavioral perspective that has received little attention in corporate finance literature. After discussing the theoretical linking between firm capital structure choice and the CEO’s attitude and behavior, we are showing on empirical grounds the relationship between the manager’s behavior toward the capital structure preferences and his cognitive commitment level. The article explains that the main cause of capital structure choice is CEO commitment level. We introduce an approach based on Decision Tree Analysis technique with a series of semi-directive interviews. The originality of this research is guaranteed since it traits the behavioral corporate policy choice in emergent markets. In the best of knowledge this is the first study in the Tunisian context that explores such area of research. Results show that psychological dimension introduced in the capital structure analysis has enriched the Pecking Order Theory (POT) and the Static Trade Off Theory (STT) CEO (CEO affective commitment) prefer to finance their projects primarily through internal capital, by debt in the second hand and finally by equity

Managerial Optimism Level and Investment Decision: Decision Tree Analysis

This paper deals with the relationship existing between the emotional aspect and decision-making. More specifically, it examines the links between managerial optimism, and effectiveness of the investment decision. We introduce an approach based Decision Tree analysis with a series of semi-directive interviews. CEO optimism level was measured using a questionnaire with several items. As for the selected sample was composed of 100 Tunisian managers. The originality of this research paper is guaranteed since it traits the behavioral corporate policy choice in emergent markets. In the best of our knowledge, this is the first study in the Tunisian context that explores such area of research. Our results show that Tunisian optimistic leader who seeks the pioneering advantage for him and his company is encouraged to adjust its specific investment decision (investment, overinvestment or under-investment in the short term or long term ...) to ensure that advantage pioneer

Does CEO Emotional Intelligence Affect the Performance of the Company's Research and Development

This paper, using qualitative and quantitative data, investigates how behavioral aspects of managers (measured by emotional intelligence) impact performance of innovative companies (measured by high investment in research and development). The results obtained clearly show, for these companies, there is a significant and positive relationship between CEO emotional intelligent and their financial, social and environmental performance

Intermolecular masking of the HIV-1 Rev NLS by the cellular protein HIC: Novel insights into the regulation of Rev nuclear import

<p>Abstract</p> <p>Background</p> <p>The HIV-1 regulatory protein Rev, which is essential for viral replication, mediates the nuclear export of unspliced viral transcripts. Rev nuclear function requires active nucleocytoplasmic shuttling, and Rev nuclear import is mediated by the recognition of its Nuclear Localisation Signal (NLS) by multiple import factors, which include transportin and importin β. However, it remains unclear which nuclear import pathway(s) predominate <it>in vivo</it>, and the cellular environment that modulates Rev nucleocytoplasmic shuttling remains to be characterised.</p> <p>Results</p> <p>In our study, we have identified the cellular protein HIC (Human I-mfa domain-Containing protein) as a novel interactor of HIV-1 Rev. We demonstrate that HIC selectively interferes with Rev NLS interaction with importin β and impedes its nuclear import and function, but does not affect Rev nuclear import mediated by transportin. Hence, the molecular determinants mediating Rev-NLS recognition by importin β and transportin appear to be distinct. Furthermore, we have employed HIC and M9 M, a peptide specifically designed to inhibit the transportin-mediated nuclear import pathway, to characterise Rev nuclear import pathways within different cellular environments. Remarkably, we could show that in 293T, HeLa, COS7, Jurkat, U937, THP-1 and CEM cells, Rev nuclear import is cell type specific and alternatively mediated by transportin or importin β, in a mutually exclusive fashion.</p> <p>Conclusions</p> <p>Rev cytoplasmic sequestration by HIC may represent a novel mechanism for the control of Rev function. These studies highlight that the multivalent nature of the Rev NLS for different import receptors enables Rev to adapt its nuclear trafficking strategy.</p

Autophosphorylation on S614 inhibits the activity and the transforming potential of BRAF

International audienceThe BRAF proto-oncogene serine/threonine-protein kinase, known as BRAF, belongs to the RAF kinase family. It regulates the MAPK/ERK signalling pathway affecting several cellular processes such as growth, survival, differentiation, and cellular transformation. BRAF is mutated in ~8% of all human cancers with the V600E mutation constituting ~90% of mutations. Here, we have used quantitative mass spectrometry to map and compare phosphorylation site patterns between BRAF and BRAF V600E. We identified sites that are shared as well as several quantitative differences in phosphorylation abundance. The highest difference is phosphorylation of S614 in the activation loop which is ~5fold enhanced in BRAF V600E. Mutation of S614 increases the kinase activity of both BRAF and BRAF V600E and the transforming ability of BRAF V600E. The phosphorylation of S614 is mitogen inducible and the result of autophosphorylation. These data suggest that phosphorylation at this site is inhibitory, and part of the physiological shut-down mechanism of BRAF signalling

CEO Emotional Intelligence and Firms’ Financial Policies. Bayesian Network Method

The aim of this paper is to explore the determinants of firms’ financial policies according to the manager’s psychological characteristics. More specifically, it examines the links between emotional intelligence, decision biases and the effectiveness of firms’ financial policies. The article finds that the main cause of an organization’s problems is the CEO’s emotional intelligence level. We introduce an approach based on Bayesian network techniques with a series of semi-directive interviews. The research paper represents an original approach because it characterizes behavioral corporate policy choices in emerging markets. To the best of our knowledge, this is the first study in the Tunisian context to explore this area of research. Our results show that Tunisian leaders adjust their decisions (on investments and distributions) to minimize the risk of loss of compensation or reputation. They opt for decisions that minimize agency costs, transaction costs, and cognitive costs

The Evidence of Management Motivation to Revalue Property Plant and Equipment in Tunisia

This article deals with the relationship between emotions and accounting methods. Specifically, it examines the links between cognitive biases and use of assets revaluation. Indeed, in order to improve the explanatory power of the positive theory of accounting we integrated the behavioural dimension in the analysis of accounting choices: our goal is to show the role of these biases on the choice of revaluation (negativity through the loss of optimism and complacency). All four cognitive biases were measured means of a questionnaire consisting of several items. The selected sample is composed of 120 Tunisians managers. Our results suggest that the presence of a revaluation is always positively correlated with the executives’ suggestibility in relation to the behavioural biases

CEO emotional bias and dividend policy: Bayesian network method

This paper assumes that managers, investors, or both behave irrationally. In addition, even though scholars have investigated behavioral irrationality from three angles, investor sentiment, investor biases and managerial biases, we focus on the relationship between one of the managerial biases, overconfidence and dividend policy. Previous research investigating the relationship between overconfidence and financial decisions has studied investment, financing decisions and firm values. However, there are only a few exceptions to examine how a managerial emotional bias (optimism, loss aversion and overconfidence) affects dividend policies. This stream of research contends whether to distribute dividends or not depends on how managers perceive of the company’s future. We will use Bayesian network method to examine this relation. Emotional bias has been measured by means of a questionnaire comprising several items. As for the selected sample, it has been composed of some 100 Tunisian executives. Our results have revealed that leader affected by behavioral biases (optimism, loss aversion, and overconfidence) adjusts its dividend policy choices based on their ability to assess alternatives (optimism and overconfidence) and risk perception (loss aversion) to create of shareholder value and ensure its place at the head of the management team