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Investment Spending in the Netherlands : The Impact of Liquidity and Corporate Governance
Degryse, Hans; de Jong, A. - Tilburg University, Center for Economic Research - 2000
This paper examines the relation between cash flow, corporate governance and fixed-investment spending. In perfect … investment in fixed assets. Aspects of corporate governance play an important role in both theories. We measure the impact of … cash flow on investment for a set of Dutch firms and aim to distinguish between the asymmetric information hypothesis and …
Persistent link: https://www.econbiz.de/10011091177
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Is the investment-cash flow sensitivity still useful to gauge financing constraints?
Chichti, Jamel E.; Mansour, Walid - In: International Journal of Economic Policy in Emerging … 3 (2010) 1, pp. 71-84
Most of the papers in corporate finance use the investment-cash flow sensitivity as a key metric to gauge financing …
Persistent link: https://www.econbiz.de/10008755557
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From Crisis to Recovery in Korea; Strategy, Achievements, and Lessons
Kang, Kenneth; Liang, Hong; Ma, Henry; Richards, Anthony J. - International Monetary Fund (IMF) - 2001
This paper reviews and draws lessons from the stabilization and reform program that Korea implemented in response to the 1997-98 crisis. The economy recovered quickly from the deep recession in 1998 and its vulnerability to a balance of payments crisis has been reduced sharply. Significant...
Persistent link: https://www.econbiz.de/10005825786
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Capital structure of small companies in the Spanish footwear sector: relevant factors
Acedo-Ramírez, Miguel; Ayala-Calvo, Juan; … - In: SERIEs 4 (2013) 2, pp. 155-173
relationship with non-debt tax shield and direct relationship with investment in fixed assets, supporting the trade-off theory … positive. This is not surprising due to the need to finance these investment opportunities with debt, because rapidly growing …
Persistent link: https://www.econbiz.de/10010994590
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The Stock Market and the Financing of Corporate Growth in Africa; The Case of Ghana
Yartey, Charles Amo - International Monetary Fund (IMF) - 2006
This paper examines the corporate financing pattern in Ghana. In particular, it investigates whether Singh's theoretically anomalous findings that developing country firms make considerably more use of external finance and new equity issues than developed country firms to finance asset growth...
Persistent link: https://www.econbiz.de/10005605262
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Corporate Balance Sheet Restructuring and Investment in the Euro Area
Jaeger, Albert - International Monetary Fund (IMF) - 2003
legacy of high debt or leverage. Models of corporate investment behavior based on imperfect capital markets predict that … highly leveraged balance sheets can act as a brake on investment spending. The paper's empirical analysis suggests that … leverage effects on corporate investment can be substantial and persistent, particularly if leverage exceeds threshold values. …
Persistent link: https://www.econbiz.de/10005605417
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Financial investment constraints. A panel threshold application to German firm level data.
Tarassow, Artur - Fachbereich Sozialökonomie, Universität Hamburg - 2014
This paper attempts to test whether financial supply-side shifts explain the low-investment climate of private firms in …
Persistent link: https://www.econbiz.de/10010891966
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What Lies Beneath: Foreign Exchange Rate Exposure, Hedging and Cash Flows
Bartram, Söhnke M. - Volkswirtschaftliche Fakultät, … - 2007
This paper presents results from an in-depth analysis of the foreign exchange rate exposure of a large nonfinancial firm based on proprietary internal data including cash flows, derivatives and foreign currency debt, as well as external capital market data. While the operations of the...
Persistent link: https://www.econbiz.de/10005789336
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A Corporate Finance Cash Flow model with Float
Apreda, Rodolfo - Universidad del CEMA - 1999
In this paper we introduce a Cash Flow Model with Float so as to overcome apparent shortcomings that pervade the Standard Cash Flow Model. We deploy the complex structure the float exhibits and this allows not only for strategic financial decision making but a much more sensible use of sources...
Persistent link: https://www.econbiz.de/10005668800
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CREATING VALUE FOR SHAREHOLDERS BY THE USE OF CASH-FLOWS
Dorel, Berceanu; Marian, Siminica; Anca, Bandoi - In: Annals of Faculty of Economics 3 (2009) 1, pp. 63-70
This paper addresses a topic of great contemporaneity and of particular importance, namely the extent to which the creation of value is achieved at micro level through the cash flow. Thus, after a brief introduction, there are given short feedbacks on two
Persistent link: https://www.econbiz.de/10008511840