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The discussion about income versus consumption as the ideal tax base looks back on a long history. In recent years, the debate about income versus consumption as the better tax base reemerged in the United States (2002) and in Germany (2006). In view of the long history of the debate, it is...
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, which we call Aggregate Return On Investment (AROI). It is a purely internal measure because, unlike the AIRR, it does not …
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increase (decrease) a firm's cash and investment before (after) a lawsuit filing. When shareholder litigation risk is low …
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A large discrepancy exists on the use of the investment–cash flow sensitivity as a measure of financing constraints of … shows a positive investment-cash flow sensitivity for business group affiliated firms and negative investment cash flow … sensitivity for non-group affiliated firms. Additional tests accordingly express that investment-cash flow sensitivity of …
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this theory have not yet been directly tested. I investigate the relationship between derivative cash flows and investment …A crucial argument for motivating hedging is that it supports corporate investment when internal cash flows are … using hand-collected data from the oil and gas industry between 2000 and 2015. The data supports the theory. On average …
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