Is the free cash flow hypothesis valid in Turkey?
| Autor: | Ender Aykut Yilmaz, Eyup Kadioglu |
|---|---|
| Přispěvatelé: | Kadıoğlu, Eyüp |
| Rok vydání: | 2017 |
| Předmět: |
EARNINGS
INVESTMENT Free cash flow UNIT-ROOT Cash and cash equivalents Financial economics Agency problem Cash flow forecasting Business and Economics Terminal value Free cash flow hypothesis lcsh:Finance lcsh:HG1-9999 0502 economics and business Econometrics Economics Cash on cash return Price/cash flow ratio 050207 economics General Environmental Science 050208 finance 05 social sciences RETURNS DEBT Operating cash flow Agency cost GROWTH General Earth and Planetary Sciences Cash flow statement Dividend payout AGENCY COSTS FIRM PERFORMANCE |
| Zdroj: | Borsa Istanbul Review, Vol 17, Iss 2, Pp 111-116 (2017) BORSA ISTANBUL REVIEW |
| ISSN: | 2214-8450 2214-8469 |
| DOI: | 10.1016/j.bir.2016.12.001 |
| Popis: | Kadioglu, Eyup/0000-0001-7836-868X WOS:000425013300004 This study tests the validity of the free cash flow hypothesis in the context of firms traded on Borsa Istanbul. The study applies a panel regression to a data set composed of 1267 observations from 227 companies during the period 2008-2014. The results reveal a significant, negative correlation between dividends per share and free cash flow. Likewise, a significant, inverse relationship is found between leverage and free cash flow. Thus, the results support the free cash flow hypothesis. Copyright (C) 2017, Borsa Istanbul Anonim Sirketi. Production and hosting by Elsevier B.V. This is an open access article under the CC BY-NC-ND license |
| Databáze: | OpenAIRE |
| Externí odkaz: |
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