Financial Constraints on Corporate Investment Behavior

摘要：

We test the investment behavior of Chinese firms in the period of economic transition. We find the group with no dividend payout enterprises has financing constraints; for the group with over-zero interest coverage, investment is sensitive to cash flow, but insignificant; third, for the small-size enterprise, investment is sensitive to cash flow, which is significant.

关键词： Financial Constraints Uncertainty Corporate Investment

作者: Huang Fuguang Zhang Shuangcai Nie Huiqiang Wang Xiaozhuo

作者单位: Nankai University,P.R.China,300071 Hebei University, P.R.China,071002

会议类型: 国际会议

会议名称: 第六届管理学国际会议(Proceedings of ICM2007 the 6th International on Management)

会议地点: 武汉

会议语种:英文

页码: 654-661

在线出版日期: 2007-08-03（万方平台首次上网日期，不代表论文的发表时间）