Profitable Investments or Dissipated Cash? Evidence on the Investment-Cash Flow Relationship From Oil and Gas Lease Bidding
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下载链接：
https://www.nber.org/papers/w11126
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资源简介：
The strong positive relationship between corporate cash flow and investment has been interpreted through the lens of both agency- and non-agency-based models. In this paper, we distinguish between these two interpretations using project-level data in the oil and gas industry. The specific projects
提供机构：
美国国家经济研究局
创建时间：
2005-02-01
