Essays on Corporate Finance

Much of the literature on investment-cash flow sensitivity examines only manufacturing firms, uses capital expenditure as a measure of investment, and uses operating cash flow as a measure of internal funds. Over the last several decades, due to outsourcing, the importance of manufacturing firms in the U.S. economy and the importance of capital expenditure as the primary type of investment have declined. The introduction of the Nasdaq exchange allowed smaller, less-profitable, and more human-capital intensive...
This data repository is not currently reporting usage information. For information on how your repository can submit usage information, please see our documentation.