FRINK Linked Data Fragments server

Matches in SemOpenAlex for { <https://semopenalex.org/work/W1578948614> ?p ?o ?g. }

• W1578948614 abstract "This thesis is structured into two main parts to investigate the role of financial flexibility in firms’ liquidity and financing management. Financial flexibility is the most important practical determinant to managers when they make financing decisions. This missing link, financial flexibility, is identified by practitioners and used in this thesis to fill the missing gap between theory and practice in corporate finance. Part A of this thesis analyses the trends in firms’ internal financial flexibility and examines the role of this internal flexibility on investment behaviour of firms. Part B of this thesis then move on to examine the role of both internal and external financial flexibility on firms’ financing behaviour.Part A examines the relationship between debt capacity and cash as part of firms’ internal financial flexibility. Firms use both debt capacity and cash holdings for their internal flexibility management; and debt capacity is used here to explain the trends observed in cash holdings. Debt capacity is the most important determinant of cash holdings and has better ability to predict cash level compared to conventional cash determinants. Together, both debt capacity and cash contribute to firms’ internal financial flexibility and are able to explain most of firms’ investment behaviour, even during a recession period.Part B examines the role of financial flexibility in capital structure decisions. Financial flexibility is measured internally as cash and debt capacity, and externally as equity liquidity using a novel external equity flexibility index based on common equity liquidity measures. The conventional pecking order and trade-off models are used to measure the impact of financial flexibility on firms’ capital structure. The pecking order theory is contingent upon firms’ internal flexibility – debt capacity. Finally, supporting the notion that financial flexibility is the most important consideration in financing decisions, debt capacity and external equity flexibility are shown to be the most important determinants of leverage." @default.
• W1578948614 created "2016-06-24" @default.
• W1578948614 creator A5029730708 @default.
• W1578948614 date "2012-07-18" @default.
• W1578948614 modified "2023-09-24" @default.
• W1578948614 title "Cash holdings, capital structure and financial flexibility" @default.
• W1578948614 cites W1488594536 @default.
• W1578948614 cites W1546993880 @default.
• W1578948614 cites W1575698009 @default.
• W1578948614 cites W1591762021 @default.
• W1578948614 cites W1926291594 @default.
• W1578948614 cites W1965007580 @default.
• W1578948614 cites W1965069187 @default.
• W1578948614 cites W1967689986 @default.
• W1578948614 cites W1970137564 @default.
• W1578948614 cites W1986046034 @default.
• W1578948614 cites W1986090375 @default.
• W1578948614 cites W2000847878 @default.
• W1578948614 cites W2001570148 @default.
• W1578948614 cites W2004527891 @default.
• W1578948614 cites W2005387891 @default.
• W1578948614 cites W2020996267 @default.
• W1578948614 cites W2022582399 @default.
• W1578948614 cites W2025710885 @default.
• W1578948614 cites W2029787633 @default.
• W1578948614 cites W2034720579 @default.
• W1578948614 cites W2037841399 @default.
• W1578948614 cites W2039034091 @default.
• W1578948614 cites W2040924070 @default.
• W1578948614 cites W2044271080 @default.
• W1578948614 cites W2044298381 @default.
• W1578948614 cites W2061256387 @default.
• W1578948614 cites W2074338416 @default.
• W1578948614 cites W2079543680 @default.
• W1578948614 cites W2081525358 @default.
• W1578948614 cites W2086213495 @default.
• W1578948614 cites W2086298426 @default.
• W1578948614 cites W2096478527 @default.
• W1578948614 cites W2097229680 @default.
• W1578948614 cites W2101247287 @default.
• W1578948614 cites W2104723218 @default.
• W1578948614 cites W2105453506 @default.
• W1578948614 cites W2113188152 @default.
• W1578948614 cites W2115676867 @default.
• W1578948614 cites W2115846503 @default.
• W1578948614 cites W2117767955 @default.
• W1578948614 cites W2117879608 @default.
• W1578948614 cites W2121308228 @default.
• W1578948614 cites W2122971054 @default.
• W1578948614 cites W2123908125 @default.
• W1578948614 cites W2124115302 @default.
• W1578948614 cites W2124597406 @default.
• W1578948614 cites W2126804458 @default.
• W1578948614 cites W2127150968 @default.
• W1578948614 cites W2128524302 @default.
• W1578948614 cites W2128730580 @default.
• W1578948614 cites W2129096896 @default.
• W1578948614 cites W2129929567 @default.
• W1578948614 cites W2131924268 @default.
• W1578948614 cites W2140037540 @default.
• W1578948614 cites W2143557201 @default.
• W1578948614 cites W2146278264 @default.
• W1578948614 cites W2153524047 @default.
• W1578948614 cites W2154044885 @default.
• W1578948614 cites W2159073154 @default.
• W1578948614 cites W2159213308 @default.
• W1578948614 cites W2160445639 @default.
• W1578948614 cites W2167351159 @default.
• W1578948614 cites W2170790204 @default.
• W1578948614 cites W2186643528 @default.
• W1578948614 cites W2287525430 @default.
• W1578948614 cites W2323266160 @default.
• W1578948614 cites W2740766300 @default.
• W1578948614 cites W2752617332 @default.
• W1578948614 cites W3022374830 @default.
• W1578948614 cites W3099514962 @default.
• W1578948614 cites W3121131820 @default.
• W1578948614 cites W3121250421 @default.
• W1578948614 cites W3121319487 @default.
• W1578948614 cites W3121408182 @default.
• W1578948614 cites W3121412040 @default.
• W1578948614 cites W3121427646 @default.
• W1578948614 cites W3121720731 @default.
• W1578948614 cites W3121786372 @default.
• W1578948614 cites W3121819860 @default.
• W1578948614 cites W3121872951 @default.
• W1578948614 cites W3121973884 @default.
• W1578948614 cites W3121986562 @default.
• W1578948614 cites W3122172324 @default.
• W1578948614 cites W3122189555 @default.
• W1578948614 cites W3122206384 @default.
• W1578948614 cites W3122252805 @default.
• W1578948614 cites W3122293394 @default.
• W1578948614 cites W3122349187 @default.
• W1578948614 cites W3122374802 @default.
• W1578948614 cites W3122398884 @default.
• W1578948614 cites W3122517128 @default.
• W1578948614 cites W3122647754 @default.
• W1578948614 cites W3122751847 @default.
• W1578948614 cites W3123014546 @default.

• next