This paper investigates how free cash flow (FCF) is associated with agency costs (AC), and how FCF and AC influence firm performance. The research purpose is therefore threefold. Specifically, the study is to explore the impact of FCF on AC, to re-examine the free cash flow hypothesis, and to test the agency theory based on the empirical data from Taiwan publicly-listed companies. The study use...

We model the interplay between cash and debt policies in the presence of financial constraints. While saving cash allows constrained firms to hedge against future cash flow shortfalls, reducing current debt – “saving borrowing capacity” – is a more effective way of securing investment in high cash flow states. This trade-off implies that constrained firms will allocate cash flows into cash hold...

This study aims to determine the effect of operating capacity, cash flow and agency cost on financial distress in infrastructure, utility transportation sector companies listed Indonesia Stock Exchange 2015-2019. type research uses associative causal with a quantitative approach sampling using purposive technique obtained by 12 for 5 years. The analysis method used this is panel data regression...

This paper takes Shanghai-Shenzhen A-share listed companies from 2007 to 2020 as a research sample explore the impact of digital transformation enterprises on environmental information disclosure and its internal mechanism. The results show that can significantly suppress level perspective action path, digitalization is suppressed by reducing cash flow operating activities. Considering financin...

journal of accounting advances (j.a.a) vol. 5, no. 1, 2013, ser. 64/3     extended abstract   monitoring role of auditing and corporate dividend payout policies   dr. v. khodadadi              s. hajizadeh               r. ghorbani shahid chamran university of ahvaz   introduction the aim of this paper is to investigate the relation between monitoring role of independent auditing and corporate ...

The cash flow statement is the third principal financial statement in a corporate financial report. It presents the cash inflows and outflows for the period, together with certain net cash flow subtotals, foremost being net cash flow from operating activities (henceforth NCFO). Under the cash flow statement classification rules of both the Financial Accounting Standards Board (FASB Statement No...