Full-text resources of CEJSH and other databases are now available in the new Library of Science.
Visit https://bibliotekanauki.pl

Refine search results

Journals help

  1. 1 Central European Economic Journal

Authors help

  1. 1 Nehrebecki M.

Years help

  1. 1 2020

Results found: 1

first rewind previous Page / 1 next fast forward last

Search results

Search:
in the keywords:  ICFS
help Sort By:

help Limit search:
first rewind previous Page / 1 next fast forward last
1
Publication available in full text mode
Content available

Cash flow sensitivity of investment: Evidence from the Polish listed companies

100%
Nehrebecki M.
Central European Economic Journal
|
2020
|
vol. 7
|
issue 54
EN
The paper focuses on assessment of the sensitivity of investment on cash flow (ICFS) made by listed companies in Poland. Achieving this goal will also involve analysing and drawing conclusions about the balance-sheet channel of monetary transmission. An empirical part uses data from financial statements for Poland derived from Emerging Markets Information Services (EMIS), related to companies listed on the Warsaw Stock Exchange and NewConnect. Estimations were made using the Ordinary Least Squares method with robust standard errors, and results made it clear that cash flow has a positive significant impact, indicating that most companies operate on the imperfect and incomplete market, and with constrained or costly access to external financing. Further, it is found that the impact is significantly strong in the slowdown, as financial constraints are more binding. These results seem to confirm that the balance-sheet channel of monetary transmission is operative in Poland.
first rewind previous Page / 1 next fast forward last
JavaScript is turned off in your web browser. Turn it on to take full advantage of this site, then refresh the page.