Advanced

When the halo of steel companies faded out in China - An empirical study on the relationship between investment and cash flow

Fan, Jiahao LU and He, Mingzhen LU (2015) BUSN89 20151
Department 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:
author
Fan, Jiahao LU and He, Mingzhen LU
supervisor
organization
course
BUSN89 20151
year
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},
  keyword      = {corporate investment,financing constraints,Investment-cash flow sensitivity},
  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},
}