The concept of free cash flow was first proposed by Jensen (1986) in the context of the
agency problem; however he did not propose a specific calculation for free cash flow. Since …

This paper develops a real options framework to analyze the behavior of stock returns in
mergers and acquisitions. In this framework, the timing and terms of takeovers are …

This paper investigates the governance implications of a firm's capital structure and
managerial incentive compensation in controlling the free cash flow agency problem. The …

The objective of this chapter is to investigate the impact of free cash flow (FCF) on a firm's
performance. This research is using the data from 2013 to 2017 from Malaysia and various …

This paper examined the relationship between free cash flow and corporate profitability of
Vietnamese listed firms. Basing on the agency theory of free cash flow, several previous …

Can broad factors such as natural resources endowment and global commodity markets
influence corporate takeovers? This paper theorizes that managers are motivated in …

In light of the dramatic changes in the callable bond market, we reexamine the determinants
of callable bonds. Using data from 1980‐2003, we find that callable bonds are often issued …

Using data of listed firms on Hochiminh Stock Exchange, the study examines the impact of
free cashflowson firm performance of manufacture, trade and real estates sectors. The …

胡建平, 干胜道摘要: 由于管理者与股东的目标函数不一致, 当公司存在自由现金流量时,
管理者可能会: 或超额在职消费, 或过度投资, 或闲置. 因管理者为己谋私利的机会主义行为所 …

This paper uses rigorous measures of operating performance and a sample extending into
the post 2000 period to reexamine the performance of venture capital (VC) backed initial …