Investment-cash Flow Sensitivities are Not Valid Measures of Financing Constraints

Released on by Steven N. Kaplan
preview-18

  • Investment-cash Flow Sensitivities are Not Valid Measures of Financing Constraints Book Detail

  • Author : Steven N. Kaplan
  • Release Date : 2000
  • Publisher :
  • Genre : Cash flow
  • Pages : 24
  • ISBN 13 :
  • File Size : 94,94 MB
DOWNLOAD BOOK

Investment-cash Flow Sensitivities are Not Valid Measures of Financing Constraints by Steven N. Kaplan PDF Summary

Book Description: Kaplan and Zingales [1997] provide both theoretical arguments and empirical evidence that investment-cash flow sensitivities are not good indicators of financing constraints. Fazzari, Hubbard and Petersen [1999] criticize those findings. In this note, we explain how the Fazzari et al. [1999] criticisms are either very supportive of the claims in Kaplan and Zingales [1997] or incorrect. We conclude with a discussion of unanswered questions.

Disclaimer: www.yourbookbest.com does not own Investment-cash Flow Sensitivities are Not Valid Measures of Financing Constraints books pdf, neither created or scanned. We just provide the link that is already available on the internet, public domain and in Google Drive. If any way it violates the law or has any issues, then kindly mail us via contact us page to request the removal of the link.

Asymmetric Effects of the Financial Crisis

Asymmetric Effects of the Financial Crisis

File Size : 88,88 MB
Total View : 1310 Views
DOWNLOAD

This paper uses the financial crisis of 2008 as a natural experiment to demonstrate that when measuring investment-cash flow sensitivity, the value of a firm's