The empirical literature on the relationship between capital structure and firm cash flow volatility is inconclusive. We explore this relationship using several measures of a firm's cash flow volatility and econometric methods that account for the non-linear relationship of proportional...

This paper studies the relationship between investment volatility, capital structure, and cash levels. Our evidence suggests: i) firms with relatively high realizations of future investment volatility hold relatively low levels of debt and high levels of cash, ii) firms fund large investment by...

This study discusses the theoretical issues on diversification, corporate performance and the relationship between these two. It studies 91 listed firms in the Main Board of Bursa Malaysia (Trading/Services ranking) for determining the diversification-performance relationship. Generally, the...