CORPORATE INVESTMENT AND CASH-FLOW SENSITIVITY: EVIDENCE FROM A JASMIN REVOLUTION PERIOD IN TUNISIAN MARKET
Journal Title: Asian Economic and Financial Review - Year 2016, Vol 6, Issue 11
Abstract
This study investigates the impact of financial constraints on investment decisions and corporate cash holding of Tunisian firms over the period of 2003-2013. We will investigate this task in a particular context which is the Jasmine Revolution. Our results show that the investment decisions of firms with financial constraints are significantly sensitive to the availability and the level of internal funds versus unconstrained ones. Generally, our results suggest that financial constraints significantly influence the decisions of Tunisian companies. In particular, these financial constraints are considered more handicapping during negative cash years and after the revolution.
Authors and Affiliations
Basty Nadia| Department of Finance Higher Institute of Management of Sousse Rue Abedelaziz El Bahi, Tunisia
Keywords
Related Articles
- EP ID EP2309
- DOI -
- Views 526
- Downloads 35
THE LINKAGE OF EMPLOYEE SATISFACTION AND LOYALTY IN HOTEL INDUSTRIES OF PAKISTAN
Most of the hotel industries now a day facemany difficulties in making their employees satisfied. So they are failed to find out the reasons that made their workers satisfied and loyal. This study includes 13 variables o...
AN APPRAISAL OF PERSONAL INCOME TAX EVASION IN NIGERIA
The objective of this study is to appraise the evasion of personal income tax in Nigeria. A total of 160 questionnaires were administered to some selected self-employed individuals in Edo State comprising businessmen, co...
CAUSALITY ANALYSIS OF VOLATILITY IN EXCHANGE RATE AND STOCK MARKET PRICES: A CASE STUDY OF PAKISTAN
This study attempted to investigate the direction of causation between the volatilities of exchange rate and stock market prices in Pakistan. Monthly time series data of Karachi Stock Exchange prices (KSE-100 Index) and...
PERCEIVED LOAN RISK AND EX POST DEFAULT OUTCOME: ARE THE BANKS’ LOAN SCREENING CRITERIA EFFICIENT?
Prospective borrowers from commercial banks are usually made to pass through stringent lending procedure. The screening procedure is intended to forestall likely default intents and reduce credit risks. Banks, through th...
ECONOMETRIC ANALYSIS OF EXCHANGE RATE AND EXPORT PERFORMANCE IN A DEVELOPING ECONOMY
The study investigated the causal relationship between currency exchange rate (EXR) and export growth (EXP) in Nigeria, Africa?s largest economy and most populous nation. The study used econometric tools for the analysis...