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quarterly financial accounting journal 2020, 12(45): 117-141 Back to browse issues page
free cash flow, investment sensitivity and the role of agency costmoderation
Fatemeh Modanloo, Arash Naderian 1
Abstract:   (650 Views)
 
Abstract
      
The purpose of this study was to investigate the relationship between free cash flow and investment sensitivity and the role of moderating the cost of representation in companies admitted to the Tehran Stock Exchange. For this purpose, a sample of 106 companies from listed companies in Tehran Stock Exchange has been selected and, by collecting research data from 2007 to 2016, examined the relationship between free cash flow and the sensitivity of capital And moderating role of representation costs.Data were analyzed using linear regression and logistic statistical techniques. The results of the research show that at the expense of representation, by using the Controller's Controller's Convergence Divergence Index (C/O), the relationship between free cash flow and investment sensitivity is negatively correlated, and in companies that are expected to incur more representation costs, the effect The sensitivity of the investment is higher than the higher free flow of funds approved by the OREC for the cost of the deal.
 
Keywords: Keywords: cash flow, investment sensitivity, financial constraints, The sensitivity of investing is greater than that, Tehran Stock Exchange
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Type of Study: Research | Subject: Special
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modanloo F, naderian A. free cash flow, investment sensitivity and the role of agency costmoderation. quarterly financial accounting journal. 2020; 12 (45) :117-141
URL: http://qfaj.ir/article-1-1734-en.html


year 12, Issue 45 (2020) Back to browse issues page
فصلنامه حسابداری مالی Quarterly Financial Accounting
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