How to cite this paper
Ghodrati, H & Hashemi, A. (2014). A study on relationship among free cash flow, firm value and investors’ cautiousness: Evidence from Tehran Stock Exchange.Management Science Letters , 4(9), 2001-2010.
Refrences
Arzac, E. R. (2005). Valuation for mergers, buyouts, and restructuring. Hoboken, NJ: Wiley.
Bayazidi, A., & Jabbarzadeh Kangar luii, S. (2009). Evaluation and comparison of the explanatory power of EVA, residual income and abnormal growth of profit in determining market value of shares of companies listed in Tehran stock exchange. Quarterly Journal of Tehran Stock Exchange, 2(7), 133-159.
Byrd, J. W. (2010). Financial policies and the agency costs of free cash flow: evidence from the oil industry. Available at SSRN 1664654.
Campbell, J. Y., & Shiller, R. J. (1988). Cointegration and tests of present value models.
Chen, K. C., Chen, Z., & Wei, K. C. (2011). Agency costs of free cash flow and the effect of shareholder rights on the implied cost of equity capital. Journal of Financial and Quantitative Analysis, 46(01), 171-207.
Copeland Thomas, E., Koller, T., & Murrin, J. (1994). Valuation: measuring and managing the value of companies/. Wiley frontiers in finance.
Darabi, R., Nouri Fard, Y., & Esfandiari, E. (2007). The review of relationship between adjusted economic value added, profit before Interest and tax, cash flows of operating activities and market value of shares of food industry companies in listed companies in Tehran Stock Exchange. Master thesis, Science and Research university, Tehran, Iran.
Davari, M. R., Abzari, M., & Afrasiabi, P. (2005). The review of relationship between firm size, net income growth and its capital costs among the listed companies in Tehran Stock Exchange. Master thesis, Business Administration, Allameh Tabatabai University.
Delshad, A. (2011). Stock valuation / Aswat Damodaran; Tehran publication, 1st ed.
Esmaili, H. (211). The relationship between cash flow and net income (profit) of companies. Auditor magazine, 52.
Gapenski, L. C., & Pink, G. H. (2003). Understanding healthcare financial management. AUPHA.
12. Fatma.bm, (2,010) "Interactions Between Free Cash Flow, Debt Policy and Governance Structure" . working paper. www.ssrn.com
Fuller, K., & Blau, B. M. (2010). Signaling, free cash flow and “nonmonotonic” dividends. Financial Review, 45(1), 21-56.
Gunasekaran, A., Patel, C., & Tirtiroglu, E. (2001). Performance measures and metrics in a supply chain environment. International journal of operations & production Management, 21(1/2), 71-87.
Gregory, A., & Wang, Y. H. (2013). Cash acquirers: Can free cash flow, debt and institutional ownership explain long-run performance?. Review of Behavioral Finance, 5(1), 35-57.
Griffin, P. A., Lont, D. H., & Sun, Y. (2010). Agency problems and audit fees: further tests of the free cash flow hypothesis. Accounting & Finance, 50(2), 321-350. 18. Hanifi, Farhad; Financial Management / Weston; Tehran Publications, 2nd Edition, 2007
Izadinia, N., Khani, A., & Mullaii, M. (2007). The relationship between accounting earnings and operating cash flow with systemic risk in the Tehran Stock Exchange. Master & apos; s thesis, Science and Research university, Tehran
Izadinia, N., Foroughi, D., & Torabi, M. H. (2008). Investigating the relationship between economic value added and earnings per share and cash flows with annual returns of companies listed in Tehran stock exchange. Master thesis, Science and Research university, Tehran.
Jaggi, B., & Gul, F. A. (2005). Evidence of accruals management: A test of the free cash flow and debt monitoring hypotheses. Available at SSRN 2699.
Jensen, M. C. (1986). Agency costs of free cash flow, corporate finance, and takeovers. The American Economic Review, 76(2), 323-329.
Karpavicius, S., & Yu, F. (2011). A Test of the Free Cash Flow Hypothesis: The Impact of Increased Institutional Holdings on Firm Characteristics.
Khodadadi vali, D. M., & Jalali, A. (2007). Evaluation of the forecasting of future cash flows using the cash flow and accrual components of past returns. Master Thesis, Shahid Chamran Universityof ahvaz, Accounting research magazine.
Kimmel, P. D., Weygandt, J. J., & Kieso, D. E. (2010). Financial accounting: Tools for business decision making. John Wiley & Sons.
Lally, M. (2008). Free cash flow models, terminal values and the timing of asset replacements?. New Zealand Economic Papers, 42(1), 79-102.
Lehn, K., & Poulsen, A. (1989). Free cash flow and stockholder gains in going private transactions. The Journal of Finance, 44(3), 771-787.
Maham, K. (2008). Model of free cash flow for shareholders. Journal of Accounting Research, 12.
Mehrani, S., & Bagheri, B. (2009). Investigating the effects of free cash flows and institutional shareholders on profit management of listed companies in Tehran Stock Exchange. Journal of Accounting Research, 2, 50-71.
Noravesh, I., & Saidi, A. (2007). Evaluation of comprehensive income superiority to net income to evaluate the firm performance. Master Thesis, Science and Research university, Tehran.
Pareja, I.V. (2010). Cost of capital depends on free cash flow. The IUP Journal of Applied Finance, 16(1), 27-39.
Platt, H., Demirkan, S., & Platt, M. (2010). Free cash flow, enterprise value, and investor caution. The Journal of Private Equity, 13(4), 42-50.
Rahmani, A., & Tahany, M. (2007). The ability of financial statements items in forecasting future cash flow. Master Thesis, Tehran University.
Rashidi, M. (2000). Risk Management. Shabek publication.
Rezvani Raz, K., Rekabdar, G., & Ahmadi Ramezan, M. (2009). The review of relationship between free cash flow and dividend distribution policy of listed companies in Tehran Stock Exchange. Quarterly Journal of Financial Accounting, 1(4), 92-107
Saghafi, A., Khaleghi Moghaddam, H., & Fadaii, H. (2007). Choosing efficient model for forecasting cash flows based on a comparison of related models. Tarbiat Modares University, Tehran.
Shariat Panahi, M., Barzide, F., & Zamari, R. (2007). The relationship between financial ratios based on cash flow and stock return in Tehran Securities Market. Master Thesis, Tehran University.
Sheri, S., Rahmani, A., & Salehion, M. (2007). The relationship between of earnings, cash flows and stock returns. Master Thesis, Tarbiat Modares University, Tehran.
Tehrani, R., & Hesarzade, R. (2009). The impact of free cash flows and financing constraints on over investment and low investment, Master Thesis, Tehran University.
Tehrani, R., & Seraji, H. (2009). The relationship between economic value added, cash flow from operating activities and profit before interest and taxes and market values of shares of listed companies in Tehran Stock Exchange. Master Thesis, Tarbiat modares University.
Bayazidi, A., & Jabbarzadeh Kangar luii, S. (2009). Evaluation and comparison of the explanatory power of EVA, residual income and abnormal growth of profit in determining market value of shares of companies listed in Tehran stock exchange. Quarterly Journal of Tehran Stock Exchange, 2(7), 133-159.
Byrd, J. W. (2010). Financial policies and the agency costs of free cash flow: evidence from the oil industry. Available at SSRN 1664654.
Campbell, J. Y., & Shiller, R. J. (1988). Cointegration and tests of present value models.
Chen, K. C., Chen, Z., & Wei, K. C. (2011). Agency costs of free cash flow and the effect of shareholder rights on the implied cost of equity capital. Journal of Financial and Quantitative Analysis, 46(01), 171-207.
Copeland Thomas, E., Koller, T., & Murrin, J. (1994). Valuation: measuring and managing the value of companies/. Wiley frontiers in finance.
Darabi, R., Nouri Fard, Y., & Esfandiari, E. (2007). The review of relationship between adjusted economic value added, profit before Interest and tax, cash flows of operating activities and market value of shares of food industry companies in listed companies in Tehran Stock Exchange. Master thesis, Science and Research university, Tehran, Iran.
Davari, M. R., Abzari, M., & Afrasiabi, P. (2005). The review of relationship between firm size, net income growth and its capital costs among the listed companies in Tehran Stock Exchange. Master thesis, Business Administration, Allameh Tabatabai University.
Delshad, A. (2011). Stock valuation / Aswat Damodaran; Tehran publication, 1st ed.
Esmaili, H. (211). The relationship between cash flow and net income (profit) of companies. Auditor magazine, 52.
Gapenski, L. C., & Pink, G. H. (2003). Understanding healthcare financial management. AUPHA.
12. Fatma.bm, (2,010) "Interactions Between Free Cash Flow, Debt Policy and Governance Structure" . working paper. www.ssrn.com
Fuller, K., & Blau, B. M. (2010). Signaling, free cash flow and “nonmonotonic” dividends. Financial Review, 45(1), 21-56.
Gunasekaran, A., Patel, C., & Tirtiroglu, E. (2001). Performance measures and metrics in a supply chain environment. International journal of operations & production Management, 21(1/2), 71-87.
Gregory, A., & Wang, Y. H. (2013). Cash acquirers: Can free cash flow, debt and institutional ownership explain long-run performance?. Review of Behavioral Finance, 5(1), 35-57.
Griffin, P. A., Lont, D. H., & Sun, Y. (2010). Agency problems and audit fees: further tests of the free cash flow hypothesis. Accounting & Finance, 50(2), 321-350. 18. Hanifi, Farhad; Financial Management / Weston; Tehran Publications, 2nd Edition, 2007
Izadinia, N., Khani, A., & Mullaii, M. (2007). The relationship between accounting earnings and operating cash flow with systemic risk in the Tehran Stock Exchange. Master & apos; s thesis, Science and Research university, Tehran
Izadinia, N., Foroughi, D., & Torabi, M. H. (2008). Investigating the relationship between economic value added and earnings per share and cash flows with annual returns of companies listed in Tehran stock exchange. Master thesis, Science and Research university, Tehran.
Jaggi, B., & Gul, F. A. (2005). Evidence of accruals management: A test of the free cash flow and debt monitoring hypotheses. Available at SSRN 2699.
Jensen, M. C. (1986). Agency costs of free cash flow, corporate finance, and takeovers. The American Economic Review, 76(2), 323-329.
Karpavicius, S., & Yu, F. (2011). A Test of the Free Cash Flow Hypothesis: The Impact of Increased Institutional Holdings on Firm Characteristics.
Khodadadi vali, D. M., & Jalali, A. (2007). Evaluation of the forecasting of future cash flows using the cash flow and accrual components of past returns. Master Thesis, Shahid Chamran Universityof ahvaz, Accounting research magazine.
Kimmel, P. D., Weygandt, J. J., & Kieso, D. E. (2010). Financial accounting: Tools for business decision making. John Wiley & Sons.
Lally, M. (2008). Free cash flow models, terminal values and the timing of asset replacements?. New Zealand Economic Papers, 42(1), 79-102.
Lehn, K., & Poulsen, A. (1989). Free cash flow and stockholder gains in going private transactions. The Journal of Finance, 44(3), 771-787.
Maham, K. (2008). Model of free cash flow for shareholders. Journal of Accounting Research, 12.
Mehrani, S., & Bagheri, B. (2009). Investigating the effects of free cash flows and institutional shareholders on profit management of listed companies in Tehran Stock Exchange. Journal of Accounting Research, 2, 50-71.
Noravesh, I., & Saidi, A. (2007). Evaluation of comprehensive income superiority to net income to evaluate the firm performance. Master Thesis, Science and Research university, Tehran.
Pareja, I.V. (2010). Cost of capital depends on free cash flow. The IUP Journal of Applied Finance, 16(1), 27-39.
Platt, H., Demirkan, S., & Platt, M. (2010). Free cash flow, enterprise value, and investor caution. The Journal of Private Equity, 13(4), 42-50.
Rahmani, A., & Tahany, M. (2007). The ability of financial statements items in forecasting future cash flow. Master Thesis, Tehran University.
Rashidi, M. (2000). Risk Management. Shabek publication.
Rezvani Raz, K., Rekabdar, G., & Ahmadi Ramezan, M. (2009). The review of relationship between free cash flow and dividend distribution policy of listed companies in Tehran Stock Exchange. Quarterly Journal of Financial Accounting, 1(4), 92-107
Saghafi, A., Khaleghi Moghaddam, H., & Fadaii, H. (2007). Choosing efficient model for forecasting cash flows based on a comparison of related models. Tarbiat Modares University, Tehran.
Shariat Panahi, M., Barzide, F., & Zamari, R. (2007). The relationship between financial ratios based on cash flow and stock return in Tehran Securities Market. Master Thesis, Tehran University.
Sheri, S., Rahmani, A., & Salehion, M. (2007). The relationship between of earnings, cash flows and stock returns. Master Thesis, Tarbiat Modares University, Tehran.
Tehrani, R., & Hesarzade, R. (2009). The impact of free cash flows and financing constraints on over investment and low investment, Master Thesis, Tehran University.
Tehrani, R., & Seraji, H. (2009). The relationship between economic value added, cash flow from operating activities and profit before interest and taxes and market values of shares of listed companies in Tehran Stock Exchange. Master Thesis, Tarbiat modares University.