A study on agency costs: The relationship of the free cash flow hypothesis to sales growth and firm performance

• Main Authors: Cancino, Isaac Christopher J., Merin, John David G., Villareal, Justine Jeffrey J., Yapendon, Joseph T.
• Format: text
• Language: English
• Published: Animo Repository 2013
• Subjects: Cash flow > Philippines; Stock ownership; Accounting
• Online Access: https://animorepository.dlsu.edu.ph/etd_bachelors/11567
• Institution: De La Salle University

The paper tests the agency argument if free cash flow contributes to higher sales growth. It also tests if firm performance is negatively affected by free cash flow. And it finally test if governance controls help mitigate such effects to the performance in relation to its sales growth. The related...