Results 221 to 230 of about 11,471 (261)

Agency Costs of Free Cash Flow

SSRN Electronic Journal, 2015
Free Cash Flow (FCF) agency conflicts exist when managers divert cash flow for private benefits. We identify the impact of unobservable FCF conflicts on firm policy using a structural approach. Measurement equations are constructed based on observable managerial choices: payout policy changes and personal portfolio decisions around exogenous tax rate ...
Indraneel Chakraborty, Vidhi Chhaochharia, Gerardo Perez Cavazos, Andreya Marie Silva   +3 more
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Free Cash Flow and Earnings Management

2021
This study draws on Jensen's free cash flow hypothesis to evaluate the relationship between free cash flow and earnings management. This study also examines whether the level of leverage moderate the relationship between free cash flow and earnings management.
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Free-Cash-Flow-Modelle

2018
Zu den Cashflow‐Modellen zahlen neben dem Dividendendiskontierungsmodell auch die Free‐Cash‐Flow‐Modelle, bei denen anstatt Dividenden frei verfugbare Cashflows mit der erwarteten Rendite diskontiert werden. Die frei verfugbaren Cashflows verkorpern die vom Unternehmen erwirtschafteten betrieblichen Cashflows nach Abzug der erforderlichen Investitionen
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Storytellers, stories, and “free cash flow”

International Review of Financial Analysis, 1994
Abstract This paper illustrates the role of stories and storytelling in financial economics through analysis of “Agency Costs of Free Cash Flow, Corporate Finance, and Takeovers” (Jensen, 1986). In financial economics, only elite economic theoreticians like Jensen can tell stories, and they present their worldview as objective reality.
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The Circularity Problem with Free Cash Flow

Business Valuation Review, 2008
Abstract This paper reviews the circularity problem with the free cash flow valuation method. It quantifies the problem via a numerical example and discusses potential solutions. It concludes that it is best solved via an iteration process.
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Free Cash Flows

2023
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Free-Cash-Flow-Based Methods

2017
According to what is the target of the valuation, both free cash flows to the firm and free cash flows to equity can be calculated. When the cash flows have been calculated the valuation comes from the application of the Free-Cash-Flow-Based valuation methods, a family of models that relies on the accounting cash flows as a source of information for ...
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Valuation with the flows : the use of free cash flows

1996
L'évaluation joue un rôle dans de nombreux domaines de la finance, tels que la finance d'entreprise, les fusions et acquissitions ou la gestion de portefeuille. limitée en cas de gestion passive ou indicielle, la valorisation des entreprises revêt une grand importance pour une gestion active. Dans le cadre du théorème du capital-valeur, la valorisation
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Cash Retention Strategies: Test of Free Cash Flow Theory

2003
This chapter examines financing decisions by firms listed on the Mumbai Stock Exchange. A study by Singh and Hamid of stock market data for the top 100 manufacturing firms in several industrialising countries showed how these firms use internal and external resources to finance investment (Singh and Hamid, 1992).
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The impact of shareholder intervention on overinvestment of free cash flow by overconfident CEOs

International Review of Financial Analysis, 2021
Sewon Kwon, Jae Hwan Ahn, Gi H Kim
exaly