𝔖 Bobbio Scriptorium
✦   LIBER   ✦

The impact of cash flow volatility on discretionary investment and the costs of debt and equity financing

✍ Scribed by Bernadette A. Minton; Catherine Schrand

Book ID
114221675
Publisher
Elsevier Science
Year
1999
Tongue
English
Weight
214 KB
Volume
54
Category
Article
ISSN
0304-405X

No coin nor oath required. For personal study only.

πŸ“œ SIMILAR VOLUMES

The impact of cash flow volatility on di
The impact of cash flow volatility on discretionary investment and the costs of debt and equity financing
✍ Bernadette A. Minton; Catherine Schrand πŸ“‚ Article πŸ“… 1999 πŸ› Elsevier Science 🌐 English βš– 214 KB

We show that higher cash #ow volatility is associated with lower average levels of investment in capital expenditures, R&D, and advertising. This association suggests that "rms do not use external capital markets to fully cover cash #ow shortfalls but rather permanently forgo investment. Cash #ow vo