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Management Science Letters

ISSN 1923-9343 (Online) - ISSN 1923-9335 (Print)
Quarterly Publication
Volume 4 Issue 9 pp. 1969-1972 , 2014

A study on relationship between market share and cash flow policy Pages 1969-1972 Right click to download the paper Download PDF

Authors: Somayeh Sadeghi Moghaddam, Fateme Zabihi

Keywords: Cash flow policy, Market share, Resilience, Tehran Stock Exchange

Abstract: This paper presents an empirical investigation to study the relationship between cash flow and market share on selected firms from Tehran Stock Exchange over the period 2007-2011. Using regression analysis, the study has detected a positive and meaningful relationship between cash flow on one side and three other investment opportunities, firm size and operating cash flow. In addition, there is a negative and meaningful relationship between leverage and cash flow. However, the study does not find any meaningful relationship between cash flow and market share. Finally, the study does not find any meaningful relationship between the cash flows of the previous year as control variable and other cashable assets.

How to cite this paper
Moghaddam, S & Zabihi, F. (2014). A study on relationship between market share and cash flow policy.Management Science Letters , 4(9), 1969-1972.

Refrences
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Baltagi, B. (2008). Econometric analysis of panel data (Vol. 1). John Wiley & Sons.

Bates, T. W., Kahle, K. M., & Stulz, R. M. (2009). Why do US firms hold so much more cash than they used to?. The Journal of Finance, 64(5), 1985-2021.

Campello, M. (2006). Debt financing: Does it boost or hurt firm performance in product markets?. Journal of Financial Economics, 82(1), 135-172.

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Jensen, M. C. (1986). Agency costs of free cash flow, corporate finance, and takeovers. The American Economic Review, 76(2), 323-329.

Myers, S. C., & Majluf, N. S. (1984). Corporate financing and investment decisions when firms have information that investors do not have. Journal of Financial Economics, 13(2), 187-221.

Opler, T., Pinkowitz, L., Stulz, R., & Williamson, R. (1999). The determinants and implications of corporate cash holdings. Journal of financial economics,52(1), 3-46.

Ozkan, A., & Ozkan, N. (2004). Corporate cash holdings: An empirical investigation of UK companies. Journal of Banking & Finance, 28(9), 2103-2134.

Schoubben, F., & Van Hulle, C. (2012). Market share and cash policy: Evidence from western European companies. International Journal of Economics and Finance, 4(11), 51-65.
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Journal: Management Science Letters | Year: 2014 | Volume: 4 | Issue: 9 | Views: 2452 | Reviews: 0

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