Contents & References of Studying the relationship between asymmetric cash flow sensitivity and cash retention in companies listed on the Tehran Stock Exchange with an emphasis on financial constraints.
List:
Table of Contents
Title Page
Abstract.. 1
Chapter One: General Research
1-1) Introduction. 3
1-2) statement of the problem. 3
1-3) The importance and necessity of research. 5
1-5) research objectives. 6
1-5-1) scientific goals. 6
1-5-2) practical goals. 6
1-6) research hypotheses. 7
1-7) variables and research model. 7
1-7-1) research variables. 7
1-7-1-1) dependent variable. 7
1-7-1-2) independent variables. 7
1-7-1-3) control variables. 7
1-7-2) analytical model of research. 7
1-8) research method. 8
1-9) Methods and tools for collecting information. 8
1-10) Information analysis method. 9
1-11) research territory. 9
1-11-1) Subject area. 9
1-11-2) Time realm. 9
1-11-3) spatial territory. 9
1-12) Society and the statistical sample of the research. 10
1-13) definitions of key words (operational definitions of words). 10
1-14) research structure. 11
1-14) chapter summary. 12
Chapter Two: A review of research literature
2-1) cash flows. 14
2-1-1) The importance of cash flows. 14
2-1-2) Accounting measurements through future cash flows. 14
2-1-3) historical information (accrual items) and cash flows. 15
2-1-4) The relationship between current and future cash flows and the investment level of companies. 16
2-1-5) objectives of cash flows (liquidity management, ability to pay debts and financial flexibility) 16
2-1-6) classification of current assets and cash flows. 17
2-1-7) moving towards cash flows. 17
2-1-8) current cash flows and expected cash flows of investors. 18
2-1-9) cash flows and net profit. 19
2-1-10) Types of cash flows. 20
2-1-10-1) cash flow of equity. 20
2-1-10-2) capital cash flow. 21
2-1-10-3) Free cash flow. 21
2-1-11) Difference between cash flows. 22
2-1-12) The nature and concept of free cash flow. 23
2-1-13) cash flow statement. 24
2-1-13-1) History of cash statement. 25
2-1-13-2) Classification of cash flows and how to present the cash flow statement according to the Iranian accounting standard 27
2-1-13-3) The concept of cash flows resulting from operational activities. 28
2-1-14) Providing information about cash flow and its forecast. 29
2-1-15) operational cash flows and profit sharing policies. 30
2-2) Factors affecting cash flow forecasting. 30
2-2-1) Cash flow sensitivity of cash. 30
2-2-2) Asymmetry in the sensitivity of cash flows caused by cash. 31
2-2-3) financial limitations and sensitivity of cash flows. 32
2-2-3-1) financial limitations and sensitivity of cash flows from investment. 32
2-2-3-2) Financial limitations and sensitivity of cash flows caused by cash. 33
2-3) Maintenance of cash and cash flows. 35
2-3-1) The ratio of cash balances to company assets. 35
2-3-2) Relationship between cash and profit. 36
2-3-3) circulation of cash and profit as a means of forecasting. 37
2-3-4) managing cash assets and converting them into cash flows. 37
2-3-5) Motives for keeping cash. 38
2-3-5-1) Trading motivation. 38
2-3-5-2) Precautionary motive. 39
2-3-5-3) Speculation motive. 40
2-3-6) Relationship between accounting goals and cash flows. 40
2-3-7) cash, cash flows and theoretical framework. 41
2-3-8) circulation of cash and cash flows. 42
2-3-9) reasons for keeping cash and theories related to the level of keeping cash and cash flows 45
2-3-9-1) theory of information asymmetry. 45
2-3-9-2) representation theory. 45
2-3-9-3) balance theory. 46
2-3-9-3-1) Determining factors of cash from the point of view of balance theory. 47
2-3-9-3-1-1) Investment opportunities. 47
2-3-9-3-1-2) Liquidity of current assets. 47
2-3-9-3-1-3) financial leverage.47
2-3-9-3-1-4) size. 48
2-3-9-3-1-5) cash flow. 48
2-3-9-3-1-6) Cash flow uncertainty. 48
2-3-9-3-1-7) debt maturity. 48
2-3-9-3-1-8) Payment of dividends. 49
2-3-9-4) Theory of financing hierarchy. 49
2-3-9-4-1) Determinants of cash from a hierarchical point of view. 50
2-3-9-4-1-1) Investment opportunities. 50
2-3-9-4-1-2) financial leverage. 50
2-3-9-4-1-3) cash flow. 50
2-3-9-4-1-4) size. 50
2-3-9-5) theory of free cash flow. 51
2-3-9-5-1) Cash flow determinants from the point of view of free cash flow theory. 52
2-3-9-5-1-1) financial leverage. 52
2-3-9-5-1-2) Investment opportunities. 52
2-3-9-5-1-3) size. 52
2-3-9-5-1-4) Banking relations. 53
2-3-10) Short-term investments and the ability to convert into cash flows. 53
2-3-11) Liquidity level and short-term investments that can be converted into cash. 54
2-3-12) optimal and desirable level of cash. 54
2-3-12-1) Bamol model. 54
2-3-12-2) Miller-Orr model. 55
2-3-12-3) Brunk model. 56
2-3-12-4) New fund models. 56
2-3-13) strategic goals of cash management. 57
2-3-14) Advantages and disadvantages of keeping cash assets. 57
2-4) Research background. 57
2-4-1) Research conducted abroad. 58
2-4-2) Research conducted inside the country. 62
2-4-3) Summary of foreign and domestic research. 64
Chapter Three: Research Implementation Method
3-1) Introduction. 68
3-2 (the statistical population of the research. 68
3-3) Determining the size of the research sample. 68
3-4) specific research objectives. 70
3-4-1) The main goal. 71
3-4-2) Sub-goals. 71
3-5) research questions. 71
3-6) research hypotheses. 71
3-7) research method. 71
3-7-1) Research method in terms of nature and content. 71
3-7-2) research method in terms of goal. 72
3-7-3) Research method. 72
3-8) Method and tool of information collection. 72
3-9) Definition of variables and how to calculate them. 72
3-9-1) The ratio of changes in the level of cash holding of companies (). 73
3-9-2) The rate of change in the sensitivity of cash flows (). 74
3-9-3) The degree of asymmetry of cash flow sensitivity (). 74
3-9-10) company size (). 78
3-9-11) capital expenditure ratio (). 78
3-9-12) Acquisition of shares (). 79
3-9-13) ratio of net non-cash working capital (). 79
3-9-14) ratio of short-term debts at the beginning of the period (). 80
3-10) research models. 81
3-11) internal and external validity of the research. 82
3-12) The method of analyzing models and testing hypotheses. 82
3-13) Panel data method. 83
3-14) fixed effects method. 84
3-15) Chow test or bounded F. 85
3-16) Hausman test. 86
3-18) Coefficients significance test. 87
3-19) The test related to checking the normality of the distribution of variables. 87
3-20) Tests related to the assumptions of the linear regression model. 88
3-21) The assumption of normality of the residuals. 88
3-22) Assuming the absence of collinearity between independent variables. 88
3-23) The assumption of independence of the residuals. 89
3-24) Assuming the absence of heterogeneity of variances among the residuals. 90
3-25) Assuming the absence of model specification error and linearity of the model. 90
Chapter Four: Data Analysis
4-1) Introduction. 93
4-2) Descriptive statistics of research variables. 93
4-3) The test of normality of the distribution of the dependent variable of the research. 95
4-4) Check the correlation between research variables. 98
4-5) Checking the collinearity between research variables. 100
4-6) The results of the research hypotheses test. 101
4-6-1) The results of the first research hypothesis test. 101
4-6-2) The results of the second research hypothesis test. 105
4-7) Summary of the chapter. 108
Chapter Five: Conclusion and Suggestions
5-1) Introduction. 111
5-2) Summary of the research. 111
5-3) Hypothesis test results. 114
5-3-1) Test results of the first research hypothesis. 114
5-3-2) The results of the second research hypothesis test.