funds to achieve the optimal investment. In this study, I construct a theoretical financial constraint model based on … informativeness of accounting earnings to explore the relationship between the informativeness of accounting earnings and investment … result indicates that investment cash flow sensitivity is irrelevant to the informativeness of accounting earnings itself for …

' debt ratio and the relation-specific investment of their customers. We also find that the debt ratio increases with the …

' debt ratio and the relation-specific investment of their suppliers. We also find that the debt ratio increases with the …