CEO's age and investment‐cash flow sensitivity

2022 ◽  
Author(s):  
Gaurav Gupta
Keyword(s):  
Cash Flow ◽  
Flow Sensitivity ◽  
Cash Flow Sensitivity

Managerial Overconfidence and Investment－Cash Flow Sensitivity

2017 ◽  
Vol 32 (6) ◽  
pp. 345-363
Author(s):  
Jeong-Ho Koo ◽  
◽  
Daecheon Yang ◽  
Keyword(s):  
Cash Flow ◽  
Flow Sensitivity ◽  
Cash Flow Sensitivity ◽  
Managerial Overconfidence

Cash Flow Sensitivity of Investment

2005 ◽  
Author(s):  
Armen Hovakimian ◽  
Gayané Hovakimian
Keyword(s):  
Cash Flow ◽  
Flow Sensitivity ◽  
Cash Flow Sensitivity

Wall of cash: The investment-cash flow sensitivity when capital becomes abundant

2015 ◽  
Vol 50 ◽  
pp. 204-213 ◽  
Author(s):  
Niclas Andrén ◽  
Håkan Jankensgård
Keyword(s):  
Cash Flow ◽  
Flow Sensitivity ◽  
Cash Flow Sensitivity

Debt holdings and investment cash flow sensitivity of listed firms

2018 ◽  
Vol 13 (5) ◽  
pp. 943-958 ◽  
Author(s):  
Johnson Worlanyo Ahiadorme ◽  
Agyapomaa Gyeke-Dako ◽  
Joshua Yindenaba Abor
Keyword(s):  
Cash Flow ◽  
Empirical Modeling ◽  
Empirical Literature ◽  
Data Set ◽  
Content Type ◽  
Listed Firms ◽  
Flow Sensitivity ◽  
Cash Flow Sensitivity ◽  
Cash Flow Sensitivities ◽  
Internal Funds

Purpose The purpose of this paper is to examine the effect of debt holdings on the sensitivity of firms’ investment to availability of internal funds. Design/methodology/approach For a panel data set of 27 Ghanaian listed firms for the period 2007–2013, the paper applies the Euler equation approach to the empirical modeling of investment. Findings The study finds support for the assertion that listed firms face less severe corporate control problems and lower financing constraints, and thus, have lower investment cash flow sensitivities. The study also finds that a significant positive sensitivity of investment to internal funds is associated with firms that have high debt holdings. Practical implications An implication of this study is that firms with high debt holdings face greater challenges in accessing external finance. These firms are likely to experience under-investment which at a macro level would translate into lower investments and economic growth for the country. Originality/value Empirical literature document that in the presence of market imperfections, investments of financially constrained firms become sensitive to the availability of internal finance. There are also contradictory evidences regarding the pattern of the observed investment cash flow sensitivity. This study examines the effect of debt holdings on the sensitivity of firms’ investment to availability of cash flow. This is yet to be empirically tested despite some theoretical explanations.

Investment Cash Flow Sensitivity: The Role of Cash Flow Volatility

2014 ◽  
Author(s):  
Klaas Mulier ◽  
Koen J. L. Schoors ◽  
Bruno Merlevede
Keyword(s):  
Cash Flow ◽  
Flow Sensitivity ◽  
Cash Flow Sensitivity ◽  
Cash Flow Volatility
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