When the halo of steel companies faded out in China - An empirical study on the relationship between investment and cash flow
(2015) BUSN89 20151Department of Business Administration
- Abstract
- The main purpose of this study is to evaluate the ICF sensitivity changing along with the deteriorating internal and external financing conditions for 23 steel companies listed in Shenzhen and Shanghai Stock Exchange markets in China.The paper found that there is a positive relationship between investment and cash flow which is in line with previous researches. We also found a sharp ICF sensitivity decrease in the comparison of different time spectrum. We tried to evaluate the ICF sensitivity change in each particular year, but we failed to evidence that since all the estimators are insignificant after 2007.
Please use this url to cite or link to this publication:
http://lup.lub.lu.se/student-papers/record/7510916
- author
- Fan, Jiahao LU and He, Mingzhen LU
- supervisor
- organization
- course
- BUSN89 20151
- year
- 2015
- type
- H1 - Master's Degree (One Year)
- subject
- keywords
- corporate investment, financing constraints, Investment-cash flow sensitivity
- language
- English
- id
- 7510916
- date added to LUP
- 2015-09-15 16:16:53
- date last changed
- 2015-09-15 16:16:53
@misc{7510916, abstract = {{The main purpose of this study is to evaluate the ICF sensitivity changing along with the deteriorating internal and external financing conditions for 23 steel companies listed in Shenzhen and Shanghai Stock Exchange markets in China.The paper found that there is a positive relationship between investment and cash flow which is in line with previous researches. We also found a sharp ICF sensitivity decrease in the comparison of different time spectrum. We tried to evaluate the ICF sensitivity change in each particular year, but we failed to evidence that since all the estimators are insignificant after 2007.}}, author = {{Fan, Jiahao and He, Mingzhen}}, language = {{eng}}, note = {{Student Paper}}, title = {{When the halo of steel companies faded out in China - An empirical study on the relationship between investment and cash flow}}, year = {{2015}}, }