Wan, Hualin; Zhu, Kai - In: China journal of accounting research : CJAR 4 (2011) 4, pp. 253-270
Since Fazzari et al. (1988), investment-cashflow sensitivity has been one of the most important indicators for testing and measuring the external financial constraints of corporations. This study analyzes the effect of changes in the relative cost of internal and external financing on investment...