conventional interpretation, but consistent with empirical findings, increases in current or future profitability reduce the …

conventional interpretation, but consistent with empirical findings, increases in current or future profitability reduce the …

one, Tobin's Q is informative about the firm's growth prospects. We show that investment is positively related to Tobin …, cash flow has a positive effect on investment, and this effect is larger for smaller, faster growing and more volatile … cast doubt on evidence of financing constraints based on cash flow effects on investment …