A fundamental goal of this study is theoretical and empirical analysis of the role played by working capital and cash flow in effective management of companies. A generally accepted strategic long-term aim of companies is to maximize their market value, whereas a fundamental goal of short-term...

In this paper we use balance-sheet data and information on bankruptcy to study the relationship between investment, financial constraints, and bankruptcy in a posttransition country. Our data constitute a dynamic panel and cover the period 2006-2011, which also allows us to study the impact of...