linkages between investment in fixed and working capital and financing constraints. We find that those firms characterized by … high working capital display high sensitivities of investment in working capital to cash flow (WKS) and low sensitivities … of investment in fixed capital to cash flow (FKS). We then construct and analyze firm-level FKS and WKS measures and find …

linkages between investment in fixed and working capital and financing constraints. We find that those firms characterized by … high working capital display high sensitivities of investment in working capital to cash flow (WKS) and low sensitivities … of investment in fixed capital to cash flow (FKS). We then construct and analyze firm-level FKS and WKS measures and find …

linkages between investment in fixed and working capital and financing constraints.  We find that those firms characterized by … high working capital display high sensitivities of investment in working capital to cash flow (WKS) and low sensitivities … of investment in fixed capital to cash flow (FKS).  We then construct and analyze firm-level FKS and WKS measures and …

linkages between investment in fixed and working capital and financing constraints. We find that those firms characterized by … high working capital display high sensitivities of investment in working capital to cash flow (WKS) and low sensitivities … of investment in fixed capital to cash flow (FKS). We then construct and analyze firm-level FKS and WKS measures and find …

In this paper we describe a theoretical model of optimal investment of various types of financially constrained firms …. We show that the resulting relationship between internal funds and investment is non-monotonic. In particular, the … magnitude of the cash flow sensitivity of the investment is lower for firms with credit rationing compared to firms that are …

Several studies use the investment - cash flow sensitivity as a measure of financing constraints while some others … subject to less financing constraints relative to independent firms.Our results show strong investment - cash flow … investment models and estimation techniques.We investigate this finding further by analyzing the influence of various firm …

The interpretation of the correlation between cash flow and investment is highly controversial. Some argue that it is … caused by financial constraints, others by the correlation between cash flow and investment opportunities that are not … opportunities available only to insiders and thus not included in Q. When this variable is added in investment regressions, the …

investment regressions and using the investment Euler equation. Results show that internal finance played a bigger role for …