Debt and cash flow relationship in pecking order theory of corporate financing: dynamic panel evidence

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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Bibliographic Details
Main Authors: Matemilola, B. T., Amin Noordin, Bany Ariffin, Md Nassir, Annuar
Format: Article
Language:English
Published: The Publisher 2014
Online Access:http://psasir.upm.edu.my/id/eprint/36970/
http://psasir.upm.edu.my/id/eprint/36970/1/Debt%20and%20cash%20flow%20relationship%20in%20pecking%20order%20theory%20of%20corporate%20financing.pdf

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