Debt and cash flow relationship in pecking order theory of corporate financing: dynamic panel evidence
The paper investigates relationship between cash flow and debt. The panel generalized method of moment results reveal that cash flow is negatively related to both long term debt and total debt ratios. Our results support the pecking order theory of corporate financing and imply that there is a need...
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| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
| Published: |
The Publisher
2014
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| Online Access: | http://psasir.upm.edu.my/id/eprint/36970/1/Debt%20and%20cash%20flow%20relationship%20in%20pecking%20order%20theory%20of%20corporate%20financing.pdf http://psasir.upm.edu.my/id/eprint/36970/ |
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