Excess Cash Flow A Signal for Institutional and Corporate Governance

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...

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Bibliographic Details
Main Author: Dhumale, Rahul
Format: eBook
Language:English
Published: London Palgrave Macmillan UK 2003, 2003
Subjects:
Online Access:
Collection: Springer eBooks 2005- - Collection details see MPG.ReNa
Description
Summary: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
Physical Description:XVI, 218 p online resource
ISBN:9780230509511