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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Main Author:	Wera, Lukam
Format:	Thesis
Language:	English
Published:	2011
Subjects:	HG Finance
Online Access:	http://ir.unimas.my/id/eprint/9055/2/Wera%28fulltext%29.pdf
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id	my-unimas-ir.9055
record_format	uketd_dc
spelling	my-unimas-ir.90552023-05-18T09:20:33Z The relationship between firms' free cash flow and investment: an empirical study on Malaysian public listed companies 2011 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 http://ir.unimas.my/id/eprint/9055/ http://ir.unimas.my/id/eprint/9055/2/Wera%28fulltext%29.pdf text en validuser masters Universiti Malaysia Sarawak, (UNIMAS) Faculty of Economics and Business
institution	Universiti Malaysia Sarawak
collection	UNIMAS Institutional Repository
language	English
topic	HG Finance
spellingShingle	HG Finance Wera, Lukam The relationship between firms' free cash flow and investment: an empirical study on Malaysian public listed companies
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.
format	Thesis
qualification_level	Master's degree
author	Wera, Lukam
author_facet	Wera, Lukam
author_sort	Wera, Lukam
title	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_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_sort	relationship between firms' free cash flow and investment: an empirical study on malaysian public listed companies
granting_institution	Universiti Malaysia Sarawak, (UNIMAS)
granting_department	Faculty of Economics and Business
publishDate	2011
url	http://ir.unimas.my/id/eprint/9055/2/Wera%28fulltext%29.pdf
_version_	1783728021016936448

The relationship between firms' free cash flow and investment: an empirical study on Malaysian public listed companies

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