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Investment - Cash Flow Sensitivity and Financing Constraints: New Evidence from Indian Business Group Firms
| Content Provider | Semantic Scholar |
|---|---|
| Author | George, Rejie Kabir, Rezaul Qian, Jing |
| Copyright Year | 2011 |
| Abstract | A controversy exists on the use of the investment – cash flow sensitivity as a measure of financing constraints of firms. We re-examine this controversy by analyzing firms affiliated to Indian business groups. We find a strong investment – cash flow sensitivity for both group-affiliated and independent firms, but no significant difference in the sensitivity between them. Additional tests consistently demonstrate that investment – cash flow sensitivity of Indian group affiliated firms is not significantly lower relative to unaffiliated firms. |
| Starting Page | 69 |
| Ending Page | 88 |
| Page Count | 20 |
| File Format | PDF HTM / HTML |
| DOI | 10.1016/j.mulfin.2010.12.003 |
| Volume Number | 21 |
| Alternate Webpage(s) | http://doc.utwente.nl/74067/1/investment.pdf |
| Alternate Webpage(s) | https://doi.org/10.1016/j.mulfin.2010.12.003 |
| Language | English |
| Access Restriction | Open |
| Content Type | Text |
| Resource Type | Article |
