aThey've all searched for small companies with a mixture of sales and free cash flow growth, superior returns on invested capital, heavy insider ownership, and healthy assets -- all at a reasonable price. 他们全部搜寻了小公司与销售混合物,并且现金流动成长,优胜者在被投资的资本,重的知情人归属和...
This paper using China real estate listed companies from 2005 to 2011,we adopts Richardson investment model to test the free cash flow,debt covenants on corporate investment efficiency,as well as the moderating effects of debt covenants to free cash flow and corporate investment efficiency. We also...
with non-state-owned enterprises,the problem of over-investment is more serious in the state-owned enterprises.The relationship between cash flow and investment is obviously a positive correlation.The share proportion of the first major shareholder and the ownership concentration can restrict over-...
its "entrenchment effect"is reduced significantly.The result of further study shows that the occurrence of the ultimate controlling shareholder's expropriation not only needs "ability" and "motivation",but also needs "opportunity" with sufficient free cash flow.The free cash flow can constrain the ...
The empirical research of Chinese listed companies proves that,the over-investment degree of listed company has negative correlation with current liabilities and positive correlation with long-term liabilities.As a whole,debt financing could not play its role to restrict corporate over-investment under ...
“R&D spending combined with strong free cash flow generation has facilitated the emergence of new leaders in global markets,”according to ETF issuer FCF Advisors.“Technology and healthcare are ingrained in all sectors of the global economy, erasing the distinction of stand-alone ‘innovat...
perks with monetary wages more aligned with the value of managers; (2) reducing the increase in excessive perks caused by the availability of free cash flow; and (3) reducing the use of excess employees to drive excess perks.doi... X Ren,X Liu,Z Tian - 《Asian‐pacific Economic Literatu...
we definite such the group as free cash flow agency cost group;meanwhile,the group charactering with higher free cash flow and higher growth opportunities will be more likely trapped by managerial overconfidence,then,we definite such group as the managerial overconfidence group.Hereafter,we distinguish...
cash flow can never be manipulated. In addition, a company with a good amount of FCF may also be more likely to makedividendpayments and engage in buybacks, acquisitions forinorganic growth, and innovation for organic growth. Not to mention that free cash flow also provides opportunities for ...
In the study we are discussed about the Impact of life cycle and free cash flow, with an emphasis on dividend policy at Listed Companies in Tehran Stock Exchange for the period of 2007 to 2011. This study is practical and Ex-post facto researches. A sample of 57 companies was selected as...