Investment-Cash Flow Sensitivity: A Study of Iranian Listed Companies

Mahdi Salehi, Ali Mohammadi, Parisa Taherzadeh Esfahani
2013 Organizacija  
The main objective of the current study is to examine the effect of audit report on cash-flow investment sensitivity of 123 listed companies in Tehran Stock Exchange (TSE) during 2006-2010. Regression analysis and synthetic data were used for data analysis. The results showed that receiving modified report has a significant negative effect on cash flow-investment sensitivity. The findings also suggest the significant effect of receiving qualified report and unqualified report with explanatory
more » ... with explanatory paragraphs on cash flow-investment sensitivity.
doi:10.2478/orga-2013-0009 fatcat:2fjl3ndqgrcjtb6jilflmtatke