The Allocation of Internal Cash FlowOver The Business Cycle

碩士 === 淡江大學 === 經濟學系碩士班 === 104 === This paper examines the allocation of internal cash flow over the business cycle. Using data from 2184 listed companies from Taiwan over the period 1991-2015, we find that unconstrained firms allocates more cash flows to cash and less cash flows to investment...

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Main Authors:	Pei-Chia Wu, 吳佩嘉
Other Authors:	Yi-Chen Lin
Format:	Others
Language:	zh-TW
Published:	2016
Online Access:	http://ndltd.ncl.edu.tw/handle/63488618005902114194

id	ndltd-TW-104TKU05389005
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spelling	ndltd-TW-104TKU053890052017-08-27T04:30:25Z http://ndltd.ncl.edu.tw/handle/63488618005902114194 The Allocation of Internal Cash FlowOver The Business Cycle 景氣循環與內部現金流量的配置 Pei-Chia Wu 吳佩嘉碩士淡江大學經濟學系碩士班 104 This paper examines the allocation of internal cash flow over the business cycle. Using data from 2184 listed companies from Taiwan over the period 1991-2015, we find that unconstrained firms allocates more cash flows to cash and less cash flows to investment and equity repurchases during booms. By contrast, during booms, financially constrained firms increase their cash holding and issue more debt. Yi-Chen Lin 林亦珍 2016 學位論文 ; thesis 54 zh-TW
collection	NDLTD
language	zh-TW
format	Others
sources	NDLTD
description	碩士 === 淡江大學 === 經濟學系碩士班 === 104 === This paper examines the allocation of internal cash flow over the business cycle. Using data from 2184 listed companies from Taiwan over the period 1991-2015, we find that unconstrained firms allocates more cash flows to cash and less cash flows to investment and equity repurchases during booms. By contrast, during booms, financially constrained firms increase their cash holding and issue more debt.
author2	Yi-Chen Lin
author_facet	Yi-Chen Lin Pei-Chia Wu 吳佩嘉
author	Pei-Chia Wu 吳佩嘉
spellingShingle	Pei-Chia Wu 吳佩嘉 The Allocation of Internal Cash FlowOver The Business Cycle
author_sort	Pei-Chia Wu
title	The Allocation of Internal Cash FlowOver The Business Cycle
title_short	The Allocation of Internal Cash FlowOver The Business Cycle
title_full	The Allocation of Internal Cash FlowOver The Business Cycle
title_fullStr	The Allocation of Internal Cash FlowOver The Business Cycle
title_full_unstemmed	The Allocation of Internal Cash FlowOver The Business Cycle
title_sort	allocation of internal cash flowover the business cycle
publishDate	2016
url	http://ndltd.ncl.edu.tw/handle/63488618005902114194
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The Allocation of Internal Cash FlowOver The Business Cycle

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