FRINK Linked Data Fragments server

Matches in SemOpenAlex for { <https://semopenalex.org/work/W1571171147> ?p ?o ?g. }

• W1571171147 abstract "We construct a new measure of firm-level “cash flow sensitivity of cash” using a correlated random effects estimation model. This measure is able to incorporate unobservable, time-invariant firm characteristics in the analysis of firm’s cash flows, in addition to the traditional observable, firm specific characteristics (e.g. governance, growth opportunities, and the degree of financial constraints). Thus, the use of this measure can significantly improve the assessments of the impact of firm individual characteristics and cash stock piling activities on firm value and firm’s investment policies. We empirically implement this measure and methodology using proxies for the level of firm’s financial constraints, agency conflicts, and governance, and the tangibility of assets. We find that stronger governance reduce the propensity of firms to stockpile cash. Furthermore, and consistent with this result, stronger governance in financially constrained firms induce lower level of investments and higher payouts to stock holders. This situation is not observed in unconstrained firms and may have important effects on firm values. Our new proposed methodology to compute cash flow sensitivity may play a central role in future empirical research expanding upon this new dimension of governance, as reflected in the power struggle between management and shareholders, particularly in relation to financing constraints and cash accumulation policies." @default.
• W1571171147 created "2016-06-24" @default.
• W1571171147 creator A5023599475 @default.
• W1571171147 creator A5027067585 @default.
• W1571171147 date "2011-08-01" @default.
• W1571171147 modified "2023-09-27" @default.
• W1571171147 title "FIRM LEVEL CASH FLOW SENSITIVITY OF CASH AND CORPORATE GOVERNANCE" @default.
• W1571171147 cites W1552065055 @default.
• W1571171147 cites W1563103971 @default.
• W1571171147 cites W2012917250 @default.
• W1571171147 cites W2014335114 @default.
• W1571171147 cites W2040619202 @default.
• W1571171147 cites W2066777296 @default.
• W1571171147 cites W2101247287 @default.
• W1571171147 cites W2121085701 @default.
• W1571171147 cites W2124758339 @default.
• W1571171147 cites W2127150968 @default.
• W1571171147 cites W3121131820 @default.
• W1571171147 cites W3121590285 @default.
• W1571171147 cites W3121608014 @default.
• W1571171147 cites W3121986562 @default.
• W1571171147 cites W3122647754 @default.
• W1571171147 cites W3122751847 @default.
• W1571171147 cites W3122808314 @default.
• W1571171147 cites W3123260560 @default.
• W1571171147 cites W3124012175 @default.
• W1571171147 cites W3124114405 @default.
• W1571171147 cites W3124284666 @default.
• W1571171147 cites W3124422916 @default.
• W1571171147 cites W3124620510 @default.
• W1571171147 cites W3124905091 @default.
• W1571171147 cites W3125140669 @default.
• W1571171147 cites W3125145429 @default.
• W1571171147 hasPublicationYear "2011" @default.
• W1571171147 type Work @default.
• W1571171147 sameAs 1571171147 @default.
• W1571171147 citedByCount "0" @default.
• W1571171147 crossrefType "posted-content" @default.
• W1571171147 hasAuthorship W1571171147A5023599475 @default.
• W1571171147 hasAuthorship W1571171147A5027067585 @default.
• W1571171147 hasConcept C10138342 @default.
• W1571171147 hasConcept C110000284 @default.
• W1571171147 hasConcept C120757647 @default.
• W1571171147 hasConcept C128044525 @default.
• W1571171147 hasConcept C144133560 @default.
• W1571171147 hasConcept C149782125 @default.
• W1571171147 hasConcept C162324750 @default.
• W1571171147 hasConcept C163428354 @default.
• W1571171147 hasConcept C166819830 @default.
• W1571171147 hasConcept C200707436 @default.
• W1571171147 hasConcept C23032112 @default.
• W1571171147 hasConcept C2778083465 @default.
• W1571171147 hasConcept C2780334105 @default.
• W1571171147 hasConcept C2780695315 @default.
• W1571171147 hasConcept C39389867 @default.
• W1571171147 hasConcept C556758197 @default.
• W1571171147 hasConcept C76087492 @default.
• W1571171147 hasConcept C8901936 @default.
• W1571171147 hasConcept C97366136 @default.
• W1571171147 hasConceptScore W1571171147C10138342 @default.
• W1571171147 hasConceptScore W1571171147C110000284 @default.
• W1571171147 hasConceptScore W1571171147C120757647 @default.
• W1571171147 hasConceptScore W1571171147C128044525 @default.
• W1571171147 hasConceptScore W1571171147C144133560 @default.
• W1571171147 hasConceptScore W1571171147C149782125 @default.
• W1571171147 hasConceptScore W1571171147C162324750 @default.
• W1571171147 hasConceptScore W1571171147C163428354 @default.
• W1571171147 hasConceptScore W1571171147C166819830 @default.
• W1571171147 hasConceptScore W1571171147C200707436 @default.
• W1571171147 hasConceptScore W1571171147C23032112 @default.
• W1571171147 hasConceptScore W1571171147C2778083465 @default.
• W1571171147 hasConceptScore W1571171147C2780334105 @default.
• W1571171147 hasConceptScore W1571171147C2780695315 @default.
• W1571171147 hasConceptScore W1571171147C39389867 @default.
• W1571171147 hasConceptScore W1571171147C556758197 @default.
• W1571171147 hasConceptScore W1571171147C76087492 @default.
• W1571171147 hasConceptScore W1571171147C8901936 @default.
• W1571171147 hasConceptScore W1571171147C97366136 @default.
• W1571171147 hasLocation W15711711471 @default.
• W1571171147 hasOpenAccess W1571171147 @default.
• W1571171147 hasPrimaryLocation W15711711471 @default.
• W1571171147 hasRelatedWork W1980670357 @default.
• W1571171147 hasRelatedWork W2017475595 @default.
• W1571171147 hasRelatedWork W2111681206 @default.
• W1571171147 hasRelatedWork W2114378745 @default.
• W1571171147 hasRelatedWork W2147565750 @default.
• W1571171147 hasRelatedWork W2179353985 @default.
• W1571171147 hasRelatedWork W2312247842 @default.
• W1571171147 hasRelatedWork W2369661718 @default.
• W1571171147 hasRelatedWork W2437943256 @default.
• W1571171147 hasRelatedWork W2578008269 @default.
• W1571171147 hasRelatedWork W2989920286 @default.
• W1571171147 hasRelatedWork W3043918150 @default.
• W1571171147 hasRelatedWork W3121239841 @default.
• W1571171147 hasRelatedWork W3121553494 @default.
• W1571171147 hasRelatedWork W3121590285 @default.
• W1571171147 hasRelatedWork W3157600435 @default.
• W1571171147 hasRelatedWork W3164635224 @default.
• W1571171147 hasRelatedWork W3165977551 @default.
• W1571171147 hasRelatedWork W3176397115 @default.

• next