Investment-Cash Flow Sensitivity: A Study of Iranian Listed Companies
, oraz
01 cze 2013
O artykule
Data publikacji: 01 cze 2013
Zakres stron: 87 - 97
DOI: https://doi.org/10.2478/orga-2013-0009
Słowa kluczowe
This content is open access.
The main objective of the current study is to examine the effect of audit report on cash-flow investment sensitivity of 123 listed companies in Tehran Stock Exchange (TSE) during 2006-2010. Regression analysis and synthetic data were used for data analysis. The results showed that receiving modified report has a significant negative effect on cash flow-investment sensitivity. The findings also suggest the significant effect of receiving qualified report and unqualified report with explanatory paragraphs on cash flow-investment sensitivity.