Using both multivariate regressions, simultaneous nonlinear equations and a discrete time hazard model, I find that the level of CSR in a firm is a significant determinant of distress, even after controlling for previously identified drivers of firm distress. The relationship is robust to the endogeneity of CSR investments and free cash flow and suggests that there is informational value in ext...

Abstract Theory has recently shown that corporate policies should depend on firms’ exposure to short- and long-lived cash flow shocks the correlation between these shocks. We provide granular estimates of parameters for Compustat firms using a new filter uses only data theoretical restrictions canonical model. As predicted by theory, we find estimated are strongly related liquidity financing ch...

How do firms finance large cash flow requirements? We examine this in the context of firms that are subject to substantial cash flow requirements. We find that trade credit, inventory and cash stock reductions are all important in the short term for mild requirements. Larger and longer cash flow shortages give rise to more equity than debt finance. After the shocks, firms gradually adjust their...

Presence of free cash flow and anti-takeover provisions are often symptomatic agency problem in a firm. We argue that this relationship is likely to be mediated by motivations the management. Extant family firm research suggests management firms more focus on long-term performance motivated desire build legacy attain longevity. This study finds whereas average for non-family firm, both negative...

The primary objective of this research is to examine the impact dividend payout ratio and free cash flow on share repurchases in Indonesian companies listed Indonesia Stock Exchange between 2016 2020. study focuses that engaged during specified period. A purposive sampling technique was employed, resulting a sample size 36 repurchase instances for purpose analysis. financial statements these we...

<p><strong><em>ABSTRACT : </em></strong><em>Stakeholders pay attention to the earnings report, thus encouraging company managers plan strategies produce reports expected by stakeholders. Earnings management is one way that can be done. Managers intervene increasing or decreasing profit in order achieve a certain level of which benefits himself company. This s...