Purpose – This paper aims to propose several factors which can explain the negative relationship between financial constraints and investment-cash flow sensitivity. Design/methodology/approach – The author uses traditional fixed effects model and minimum distance panel estimation by Erickson...

Purpose – The purpose of this paper is to propose several potential determinants of the distance between acquirer and target in M & A deals and examine the negative impact of the acquirer-target distance on announcement returns of acquiring firms. Design/methodology/approach – By employing...