Yosano, Tadanori; Shimada, Yoshinori - Graduate School of Business Administration, Kobe University - 2010
taken from the Financial Slack Hypothesis, which is very similar to the Free Cash Flow Hypothesis, and the last perspective … Theory, because managers are deeply motivated to select cash payments when they have an extensive amount of financial slack … the U.S. Evidence from our research for the Financial Slack or Free Cash Flow and Misvaluation hypotheses proved that …