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About This Book
Economic studies which examine the financing patterns of firms, particularly in emerging markets seldom consider the market environment in which they operate. The most recent Asian financial crisis and its exposure of institutional failures in the context of financial sector liberalization show that these market conditions are vital. The positive relationship between a firms excess cash flow and investment are well known but the environment which determines retention of cash as opposed to paying dividends remains unresolved. The results of this survey suggest a framework by which future research in data collection, theoretical analysis and empirical testing may be undertaken.
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Yes, you can access Excess Cash Flow by R. Dhumale in PDF and/or ePUB format, as well as other popular books in Business & Corporate Finance. We have over one million books available in our catalogue for you to explore.
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Table of contents
- Cover
- Contents
- List of Tables
- List of Figures
- Acknowledgements
- 1 Introduction
- 2 Internal Finance as a Source of Investment: Managerial/Principal Agent or Asymmetric Information Approach?
- 3 Cash Retention Strategies: Test of Free Cash Flow Theory
- 4 The Cost of Capital: Earnings Retention vs. Leverage
- 5 Earnings Retention as a Specification Mechanism in Predicting Corporate Bankruptcy
- 6 Factors Affecting the Market for Corporate Control: The Role of Excess Cash, Diversification, and Predation during Mergers and Acquisitions
- 7 Conclusions
- Appendix 1 Derivation of model constraints
- Appendix 2 Deriving the relationship between investment probability and φ
- Notes
- Bibliography
- Index