Cash-flow sensitivities and the allocation of internal cash flow

We study how firms allocate cash flow by estimating the cash-flow sensitivities of various uses of cash flow. We decompose cash flow into a transitory and a permanent component and focus on the allocation of the transitory component, which by construction contains little information about future gro...

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Bibliographic Details
Main Authors: Chang, Xin, Dasgupta, Sudipto, Wong, George, Yao, Jiaquan
Other Authors: Nanyang Business School
Format: Article
Language:English
Published: 2015
Subjects:
Online Access:https://hdl.handle.net/10356/107039
http://hdl.handle.net/10220/25323
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Institution: Nanyang Technological University
Language: English
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