Investment-Cash Flow Sensitivity under Financial Constraints Case of Tunisia

Fadoua Marouene, Ezzeddine Abaoub

Abstract


Is investment cash flow sensitivity an adequate measure of a firm’s financial constraints? The answer to this
question is an unresolved puzzle. This paper theoretically and empirically examines investment cash flow
sensitivity and its ability to measure a firm's financial constraints. The empirical study focuses on an unbalanced
panel of 88 Tunisian firms observed over the 1997 to 2007 period.


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DOI: http://dx.doi.org/10.5539/ijbm.v8n9p14

Copyright (c) 2013 Fadoua Marouene, Ezzeddine Abaoub

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International Journal of Business and Management   ISSN 1833-3850 (Print)   ISSN 1833-8119 (Online) Email: ijbm@ccsenet.org

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