Southville International School and Colleges Search for 'su:"Cash flow"'

Techniques of financial analysis : guide to value creation /

By Helfert, Erich A..
Boston : McGraw-Hill/Irwin, 2000 .
556 p. : 22 cm..
0072299886

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Techniques of financial analysis /

By Helfert, Erich A..
Burr Ridge, Illinois : Irwin, 1994 .
608 p. : 23 cm..
0256120250

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Cash windfalls and acquisitions

Amsterdam Elsevier 2018 .
Pages 287-319 , Abstract This article studies the effect of cash windfalls on the acquisition policy of companies. As identification, I use a German tax reform that permitted firms to sell their equity stakes tax free. Companies that could realize a cash windfall by selling equity stakes see an increase in the probability of acquiring another company by 14%. I find that these additional acquisitions destroy firm value. Following the tax reform, affected firms experience a decrease of 1.2 percentage points in acquisition announcement returns. These effects are stronger for larger cash windfalls. My findings are consistent with the free cash flow theory.

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The effects of q and cash flow on investment in the presence of measurement error / by Andrew B. Abel

Amsterdam Elsevier 2018 .
Pages 363-377 , Abstract I analyze investment, q, and cash flow in a tractable stochastic model in which marginal q and average q are identically equal. I introduce classical measurement error and derive closed-form expressions for the coefficients in regressions of investment on q and cash flow. The cash-flow coefficient is positive and larger for faster growing firms, yet there are no financial frictions in the model. I develop the concepts of bivariate attenuation and weight shifting to interpret the estimated coefficients on q and cash flow in the presence of measurement error.

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