期刊論文
| 學年 | 107 |
|---|---|
| 學期 | 2 |
| 出版（發表）日期 | 2019-02-01 |
| 作品名稱 | Cash flow statements and firm value : Evidence from Taiwan |
| 作品名稱（其他語言） | |
| 著者 | Yensen Ni; Paoyu Huang; Pinhui Chiang; Yulu Liao |
| 單位 | |
| 出版者 | |
| 著錄名稱、卷期、頁數 | The Quarterly Review of Economics and Finance 71, p.280-290 |
| 摘要 | By studying cash flows from operating, investing, and financing activities, we explore the effect of these various cash flows on firm value by employing censored panel data models due to concerning panel data employed and characteristics of dependent variables. Results imply that firms raising funds for capital budgeting projects can enhance their firm value, resulting in cash inflows from financing activities and cash outflows to investing activities consistent with our cognitions. However, results reveal that cash inflows from operating activities may not be regarded as a positive signal different from the relevant studies. We infer that the market is increasingly competitive for Taiwanese enterprises due to more and more competitors from South Korea and China; in addition, we argue that firm value might not be enhanced if cash inflows from operating resulting from sales increased due to lower profit margin or purchases shrunk owing to market share declined. |
| 關鍵字 | Cash flow statement;Firm value;Cash flow;Corporate governance |
| 語言 | en_US |
| ISSN | |
| 期刊性質 | 國外 |
| 收錄於 | SSCI |
| 產學合作 | |
| 通訊作者 | |
| 審稿制度 | 是 |
| 國別 | USA |
| 公開徵稿 | |
| 出版型式 | ,電子版 |
| 相關連結 |
機構典藏連結 ( http://tkuir.lib.tku.edu.tw:8080/dspace/handle/987654321/115186 ) |