Online Archive of University of Virginia Scholarship
Investigating the relationship between firm investment sensitivity and financing constraints with a distinctive Chinese firm data set1930 views
Author
Chen, Siyuan, McIntire School of Commerce, University of Virginia
Advisors
Chen, Zhaohui, McIntire School of Commerce, University of Virginia
Abstract
This paper demonstrates the non-monotonic relationship between firm investment-cash flow sensitivity and financial constraint by investigating a moderating variable to this relationship. Through a distinctive Chinese firm dataset, this paper suggests the investment in Chinese real estate as an example that moderates the relationship between investment-cash flow sensitivity and financial constraint. The result confirms a non-monotonic relationship between investment-cash flow sensitivity and financial constraint and encourages further investigation into the presence and the endogeneity of moderating variables between the aforementioned relationships.
Degree
BSC (Bachelor of Science in Commerce)
Keywords
investment-cash flow sensitivity, financial constraint, real estate, China, non-monotonic relationship
Notes
Data and R codes available upon request<BR>
Global Commerce Scholar
Chen, Siyuan. Investigating the relationship between firm investment sensitivity and financing constraints with a distinctive Chinese firm data set. University of Virginia, McIntire School of Commerce, BSC (Bachelor of Science in Commerce), 2017-06-13, https://doi.org/10.18130/V3GD3X.
