Paper Title:
The Study on Relationship between Financing Constraints and Investment-Cash Flow Sensitivity in Chinese Listed Companies
  Abstract

This paper uses the financial data of all Chinese listed companies to construct two indexes that reflect the degree of external financing constraints faced by firms, using logistic regression model and multiple discriminate analyses respectively. Second, the author examines the relationship between financing constraints and the investment-cash flow sensitivity using OLS regressions. This paper provides evidence that the relationship between financing constraints and investment-cash flow sensitivity is monotonic, which is consistent with the findings of FHP(1988).

  Info
Periodical
Advanced Materials Research (Volumes 268-270)
Edited by
Feng Xiong
Pages
1844-1849
DOI
10.4028/www.scientific.net/AMR.268-270.1844
Citation
C. C. Li, "The Study on Relationship between Financing Constraints and Investment-Cash Flow Sensitivity in Chinese Listed Companies", Advanced Materials Research, Vols. 268-270, pp. 1844-1849, 2011
Online since
July 2011
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Price
$32.00
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