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Dividends, investment and cash flow uncertainty : evidence from China

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Dividends, investment and cash flow uncertainty: Evidence from China

Deng, Lu; Li, Sifei; Liao, Mingqing; Wu, Weixing - In: International Review of Economics & Finance 27 (2013) C, pp. 112-124

This paper investigates the relation between dividends and investment for Chinese listed firms in a condition of cash flow uncertainty. We find that facing cash flow uncertainty, Chinese firms neither cut dividends nor cut investment, but maintain extremely high level of investment. External...

Persistent link: https://www.econbiz.de/10011048250