𝔖 Bobbio Scriptorium
✦   LIBER   ✦

Over-investment of free cash flow

✍ Scribed by Scott Richardson

Publisher
Springer US
Year
2006
Tongue
English
Weight
333 KB
Volume
11
Category
Article
ISSN
1380-6653

No coin nor oath required. For personal study only.

πŸ“œ SIMILAR VOLUMES

Do adjustment costs explain investment-c
Do adjustment costs explain investment-cash flow insensitivity?
✍ Sangeeta Pratap πŸ“‚ Article πŸ“… 2003 πŸ› Elsevier Science 🌐 English βš– 261 KB

In this paper, I explain two "puzzles" that have been observed in ΓΏrm level data. First, ΓΏrms that display a high sensitivity of investment to cash ow (commonly believed to be an indicator of liquidity constraints) usually have large unutilized lines of credit which, presumably, could be used to ove