The relationship between firms' free cash flow and investment: an empirical study on Malaysian public listed companies
This study examines the relationship between firms' investment, as dependent variable, and the respective free cash flow, as the independent variable. The study on the relationship has also been extended further to include other independent variables such as firms' debt ratio, size (a m...
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| Format: | Thesis |
| Language: | English |
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Universiti Malaysia Sarawak, (UNIMAS)
2011
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| Online Access: | http://ir.unimas.my/id/eprint/9055/ http://ir.unimas.my/id/eprint/9055/2/Wera%28fulltext%29.pdf |
| _version_ | 1848836482167472128 |
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| author | Wera, Lukam |
| author_facet | Wera, Lukam |
| author_sort | Wera, Lukam |
| building | UNIMAS Institutional Repository |
| collection | Online Access |
| description | This study examines the relationship between firms' investment, as dependent variable, and
the respective free cash flow, as the independent variable. The study on the relationship has
also been extended further to include other independent variables such as firms' debt ratio,
size (a measure of the total asset value), dividend payout, agency problem, Tobin's Q (a
measure of the share market value) and cash account uses. The sample used comprises of 110
non-financial companies listed on the Bursa MalaYSia) It was found that there is a
significantly negative relationship between firms' investment and the respective free cash
flow. Also, higher partially significant relationship has been found between firms' investment
and dividend payout and debt ratio negatively and positively with Tobin's Q. While lower
partially significant relationship was found between firms' investment and frrms' size and
cash account uses negatively and positively with agency problem. |
| first_indexed | 2025-11-15T06:24:28Z |
| format | Thesis |
| id | unimas-9055 |
| institution | Universiti Malaysia Sarawak |
| institution_category | Local University |
| language | English |
| last_indexed | 2025-11-15T06:24:28Z |
| publishDate | 2011 |
| publisher | Universiti Malaysia Sarawak, (UNIMAS) |
| recordtype | eprints |
| repository_type | Digital Repository |
| spelling | unimas-90552023-05-18T09:20:33Z http://ir.unimas.my/id/eprint/9055/ The relationship between firms' free cash flow and investment: an empirical study on Malaysian public listed companies Wera, Lukam HG Finance This study examines the relationship between firms' investment, as dependent variable, and the respective free cash flow, as the independent variable. The study on the relationship has also been extended further to include other independent variables such as firms' debt ratio, size (a measure of the total asset value), dividend payout, agency problem, Tobin's Q (a measure of the share market value) and cash account uses. The sample used comprises of 110 non-financial companies listed on the Bursa MalaYSia) It was found that there is a significantly negative relationship between firms' investment and the respective free cash flow. Also, higher partially significant relationship has been found between firms' investment and dividend payout and debt ratio negatively and positively with Tobin's Q. While lower partially significant relationship was found between firms' investment and frrms' size and cash account uses negatively and positively with agency problem. Universiti Malaysia Sarawak, (UNIMAS) 2011 Thesis NonPeerReviewed text en http://ir.unimas.my/id/eprint/9055/2/Wera%28fulltext%29.pdf Wera, Lukam (2011) The relationship between firms' free cash flow and investment: an empirical study on Malaysian public listed companies. Masters thesis, Universiti Malaysia Sarawak, (UNIMAS). |
| spellingShingle | HG Finance Wera, Lukam The relationship between firms' free cash flow and investment: an empirical study on Malaysian public listed companies |
| title | The relationship between firms' free cash flow and investment: an empirical study on Malaysian public listed companies |
| title_full | The relationship between firms' free cash flow and investment: an empirical study on Malaysian public listed companies |
| title_fullStr | The relationship between firms' free cash flow and investment: an empirical study on Malaysian public listed companies |
| title_full_unstemmed | The relationship between firms' free cash flow and investment: an empirical study on Malaysian public listed companies |
| title_short | The relationship between firms' free cash flow and investment: an empirical study on Malaysian public listed companies |
| title_sort | relationship between firms' free cash flow and investment: an empirical study on malaysian public listed companies |
| topic | HG Finance |
| url | http://ir.unimas.my/id/eprint/9055/ http://ir.unimas.my/id/eprint/9055/2/Wera%28fulltext%29.pdf |