Impact of Agency Costs on Investment-cash Flow Sensitivity
Firm’s cash flow as a cheap finance source, may affect the level of investment, and high investment-cash flow sensitivity may cause investment inefficiency. The agency theory implies that managers of the firms with excess cash flow may over-invest for the purpose of private benefits. Additionally, a...
| Main Authors: | , |
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| Format: | Article |
| Language: | fas |
| Published: |
Shahid Bahonar University of Kerman
2014-09-01
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| Series: | مجله دانش حسابداری |
| Subjects: | |
| Online Access: | https://jak.uk.ac.ir/article_726_8b6f004f7c34adb0cc2560bf24b7818b.pdf |