The effect of intra-group loans on the cash flow sensitivity of cash : evidence from Chile

We examine the effects of internal capital markets on the propensity of firms to save cash from cash flows (i.e., the cash flow sensitivity of cash). We argue that firms that are net providers of funds to related parties must maintain a higher cash flow sensitivity of cash to prevent high levels of...

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Detalles Bibliográficos
Autores Principales: Jara Bertín, Mauricio, Pinto Gutiérrez, Cristian, Pombo Vejarano, Carlos
Formato: Desconocido (Unknown)
Lenguaje:Inglés (English)
Publicado: Universidad de los Andes, Facultad de Economía, CEDE 2018
Materias:
G32
Acceso en línea:http://hdl.handle.net/1992/8847