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The Sensitivity of Investment to Cash Flow : An Explanation Based on the Growth-Type-Aligned Financing Hierarchy

Wu, Xueping - 2016

We find the investment-cash-flow-sensitivity (ICFS) decreases with a firm's asymmetric informational imperfection about growth (AI), a variable highly persistent over time. Firms with distinctly initial AI have distinct future investment styles and financing patterns. Higher initial AI predicts...

Persistent link: https://www.econbiz.de/10012985038

Do Market Imperfections Give Rise to Financial Constraints? A Growth Type Explanation for the Sensitivity of Investment to Cash Flow

Wu, Xueping - 2012

We identify a firm's growth type by its valuation volatility which proxies for the extent to which asymmetric information arises from growth opportunities rather than from assets-in-place. We show that firm investment style (measured by R&D/[Capex R&D]) is persistent and positively aligned with...

Persistent link: https://www.econbiz.de/10013101562

How does corporate investment react to oil prices changes? : evidence from China

Wu, Xi; Wang, Yudong - In: Energy economics 97 (2021), pp. 1-12

Persistent link: https://www.econbiz.de/10012820829

The competition of investments for endogenous transportation costs in a spatial model

Hou, Haiyang; Wu, Xiaobo; Zhou, Weihua - In: Economic modelling 31 (2013), pp. 574-577

Persistent link: https://www.econbiz.de/10009730568

Population aging and economic growth

Zhang, Kaiti; Guo, Ping; Li, Jing; Sun, Lujun; Ma, Fengli; … - In: China's population aging and the risk of 'Middle-income …, (pp. 59-74). 2017

Persistent link: https://www.econbiz.de/10011720129

Digital finance and investment of micro and small enterprises : evidence from China

Lin, Aijie; Peng, Yulei; Wu, Xi - In: China economic review : an international journal 75 (2022), pp. 1-14

Persistent link: https://www.econbiz.de/10014229506