This paper investigates the free cash flow productivity of SOEs compared with non-SOEs and examines its possible determinants. We find that SOEs have slightly weak free cash flow productivity but significantly stronger than non-SOEs. Similar performance exists among commercial class I and II SOEs and...
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-...
. . Evans, J. (2017). The role of audit quality and culture influence on earnings management in companies with excessive free cash flow: Evidence from the Asia-Pacific region. International Journal of Accounting & Information Management, 25(1), 21-42....
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...
The research results showed that high free cash flow,low-growth companies in MA performance will be decline apparently,and attributed that to the agency costs.In this paper,an attempt to build a bridge between the free cash flow and MA performance.Analyse the direct objective reason of the perf...
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 ...
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...
Here are five examples of companies that have historically shown large free cash flow figures. All five of these companies are also household names. This factor can play a big role in a company's staying power because of the level of consumer trust these brands have garnered. The figures li...
cash flow sensitivity from perspective of managerial behavior;those are Free Cash Flow Agency Cost Hypothesis and Managerial Overconfidence Hypothesis.However,the existing researches on corporate investment-free cash flow sensitivity are most tested from one angel of managerial behavior,as from managerial ...