Over-Investment of Free Cash Flow during CEO’s Tenure
نویسندگان
چکیده
منابع مشابه
Over-investment of free cash flow
This paper examines the extent of firm level over-investment of free cash flow. Using an accounting-based framework to measure overinvestment and free cash flow, I find evidence that, consistent with agency cost explanations, over-investment is concentrated in firms with the highest levels of free cash flow. Further tests examine whether firms’ governance structures are associated with over-inv...
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ژورنال
عنوان ژورنال: Technology and Investment
سال: 2016
ISSN: 2150-4059,2150-4067
DOI: 10.4236/ti.2016.73007