The Federal Reserve Act calls upon the newly created Banks "... to furnish an elastic currency..." since such action was thought to be welfare improving during times of high currency demand. This paper considers the welfare implications of an "elastic currency" regime within the context of an...

Purpose – The purpose of this paper is to investigate whether non-financial firms listed on the Nairobi Securities Exchange (NSE) exhibit a target cash conversion cycle (CCC). The study also examines the speed of adjustment to the target CCC and the factors that influence corporate decisions...

Purpose – To address the empirical aspect of corporate investment patterns by providing evidence in an international setting regarding the critical factors affecting firm investment policy, focusing on the relevance of financial factors. Design/methodology/approach – Examines international...

The evaluation process for capital expenditures has become increasingly challenging in an increasingly international marketplace and amidst rapid technological change. Key recommendations for improving the evaluation process are outlined. It is argued that, from the company′s strategic plan,...

Purpose – The purpose of this paper is to analyse the content of relational capital disclosure (RCD) information communicated by a sample of European listed companies. It also investigates the links between RCD and certain corporate financial performance indicators. Design/methodology/approach...

Purpose – The purpose of this paper is to examine three potential explanations for the corporate choice to disclose environmental capital spending amounts. Design/methodology/approach – Using archival data from a sample of Fortune 500 US firms operating in industries subject to both the...

Investigates whether institutional and industrial organizations buying capital items exhibit different patterns of structural configuration across the purchasing cycle. Measures the structure of the purchasing function by three composite parameters especially developed for this research. These...

Purpose – Understanding the relationship between government revenue and government expenditure is important from a policy point of view, especially for a country like Fiji, which is suffering from persistent budget deficits. The aim of this paper is to investigate the relationship between...

Notes that although previous research has found capital expenditure to be value relevant, there has been no direct evidence that it has a positive linear association with future earnings. Uses 1976‐1989 data from a sample of US manufacturing firms to examine this link and finds that firms do...

Purpose – The purpose of this paper is to examine the relationship between capital expenditures and corporate earnings for 357 manufacturing firms listed on the Taiwan Stock Exchange over the sample period 1992‐2002. Design/methodology/approach – The sample period of 11 years is divided...