Motivated by ongoing debates on investment-cash flow sensitivity (ICFS) and its documented decline and disappearance in … channels: investment intensity and cash flow persistence. As the share of tangible capital, investment and cash flow … capital, have higher investment rates and more persistent cash flows, their ICFS is more stable. The results support our …

analyze the relationship between investment and internal cash flows. The results indicate that the investment sensitivity to … VC-backed SME investment. The moderation effect of VC ownership reduces the magnitudes of the positive impact of cash … flows and debt as well as the negative effect of growth opportunities on investment in both smaller and larger VC …