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The purpose of this paper is to examine the capital investment process, guided by concepts from cognitive and social psychology. The intention is to gauge the extent to which managerial judgement can be detected by applying a psychological lens to the process. Initial fieldwork is subsequently reported on the extent to which managerial judgement is managed. Discovery of variations suggest an alternative perspective on understanding capital investment decisions (CIDs) that may be potentially worthwhile in understanding the long‐term success and survival of modern commercial enterprises.

Following a systematic review, employing the psychological concepts of heuristics, framing and concensus to prior case and fieldwork studies, the CID process in three companies engaged in new market/site development projects is reported. The participants initially responded to a survey and subsequently agreed to be interviewed about their processes and involvement.

The psychological concepts provided a satisfactory gauge of managerial judgement. The fieldwork revealed variety in the management of the CID process and the influence of managerial judgement.

There is an increasing call to examine the CID by case or fieldwork but, to date, the role managerial judgement plays has not been directly addressed. Applying psychological concepts to the CID process offers an opportunity to focus enquiries and improve understanding of corporate practices.

The relative reliance companies place on heuristics, framing and consensus within their specific organizational contexts ultimately may provide insights to the long‐term survival of companies.

The paper provides useful information on the cognitive and social psychology in the capital investment process.

Covid-19 is a worldwide pandemic disease that changed the government communication to citizens about the health emergency. This study aims to provide in-depth research about regional Italian government communication through social media (SM) and its effects on citizens' engagement.

The study uses a case analysis, focusing on the Italian context. In detail, the authors analyse the more involved Italian regions in Covid-19 pandemic (Lombardy, Veneto, Piedmont, Emilia Romagna and Tuscany) applying the Crisis and Emergency Risk Communication (CERC) model.

The results reveal that SM is a powerful tool for communication during a health emergency and for facilitating the engagement with stakeholders. However, results also highlight a different perception about the timing of the Covid-19 crisis.

Findings suggest a gap between the answer of the public government compared to the citizens' needs that are clear since the first earlier stage of the pandemic event. The engagement level is very high since the first phase of the pandemic event; however, to be adequately developed, it requires specific and timing information that are not always in line with the citizens’ communication needs.

This is the first research that aims to study the citizens' engagement in the Italian regions during the Covid-19 pandemic.