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.



This work is licensed under a Creative Commons Attribution 4.0 License.
  • ISSN(Print): 1833-3850
  • ISSN(Online): 1833-8119
  • Started: 2006
  • Frequency: bimonthly

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