The Impact of Hedging on the Relationship Between Corporate Investment and Cash Flow

The Impact of Hedging on the Relationship Between Corporate Investment and Cash Flow

碩士 === 國立臺灣大學 === 財務金融學研究所 === 94 === We examine the underinvestment rationale for corporate hedging and test the hypothesis that if firms hedge to reduce both their reliance on external funds and the volatility of internal cash flow, then their investment spending should be less sensitive to prehed...

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Main Authors: Tzu-Ning Shao, 邵子寧
Other Authors: 楊朝成
Format: Others
Language:en_US
Published: 2006
Online Access:http://ndltd.ncl.edu.tw/handle/48196027815443339731
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spelling ndltd-TW-094NTU053040432015-12-16T04:38:21Z http://ndltd.ncl.edu.tw/handle/48196027815443339731 The Impact of Hedging on the Relationship Between Corporate Investment and Cash Flow 避險行為對公司投資與現金流量關係之影響 Tzu-Ning Shao 邵子寧 碩士 國立臺灣大學 財務金融學研究所 94 We examine the underinvestment rationale for corporate hedging and test the hypothesis that if firms hedge to reduce both their reliance on external funds and the volatility of internal cash flow, then their investment spending should be less sensitive to prehedged cash flow. However, our results in Taiwan are not consistent with this hypothesis. 楊朝成 2006 學位論文 ; thesis 29 en_US
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description 碩士 === 國立臺灣大學 === 財務金融學研究所 === 94 === We examine the underinvestment rationale for corporate hedging and test the hypothesis that if firms hedge to reduce both their reliance on external funds and the volatility of internal cash flow, then their investment spending should be less sensitive to prehedged cash flow. However, our results in Taiwan are not consistent with this hypothesis.
author2 楊朝成
author_facet 楊朝成
Tzu-Ning Shao
邵子寧
author Tzu-Ning Shao
邵子寧
spellingShingle Tzu-Ning Shao
邵子寧
The Impact of Hedging on the Relationship Between Corporate Investment and Cash Flow
author_sort Tzu-Ning Shao
title The Impact of Hedging on the Relationship Between Corporate Investment and Cash Flow
title_short The Impact of Hedging on the Relationship Between Corporate Investment and Cash Flow
title_full The Impact of Hedging on the Relationship Between Corporate Investment and Cash Flow
title_fullStr The Impact of Hedging on the Relationship Between Corporate Investment and Cash Flow
title_full_unstemmed The Impact of Hedging on the Relationship Between Corporate Investment and Cash Flow
title_sort impact of hedging on the relationship between corporate investment and cash flow
publishDate 2006
url http://ndltd.ncl.edu.tw/handle/48196027815443339731
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