In order to test the moderating role of corporate strategy and industry environment in the effect of liquidity on investment for Portuguese manufacturing firms, we developed a multiple linear regression model for panel data. It is a static model with three types of variables: financial; strategic/environmental; and interactive. The estimated model was validated through the Breusch-Pagan/Cook-Weisberg and Wald M...
In order to test the moderating role of corporate strategy and industry environment in the effect of liquidity on investment for Portuguese manufacturing firms, we developed a multiple linear regression model for panel data. It is a static model with three types of variables: financial; strategic/environmental; and interactive. The estimated model was validated through the Breusch-Pagan/Cook-Weisberg and Wald M...
This study aims to evaluate the moderator role of industryenvironment and business strategy on the effect of internal liquidityon firm´s investment. Recent literature suggests that the intensity ofthe relationship between internal liquidity and investment explainsfirm´s financial constraints in the access to the capital market.Applied research is conducted with a sample of non-financial firms inPortuguese manuf...
Com este estudo pretende-se investigar a relação da liquidez com o investimento das empresas e avaliar o papel moderador do ambiente da indústria e da estratégia empresarial na relação anterior. Literatura recente, que se seguiu ao trabalho de Fazzari, Hubbard e Petersen (1988), sugere que a intensidade da relação entre os fluxos de caixa e o investimento é reveladora dos constrangimentos financeiros das empres...
Dissertação de mest., Ciências Económicas e Empresariais, Unidade de Ciências Económicas e Empresariais, Univ. do Algarve, 1997 ; Na sequência do surgimento do modelo de Modigliani e Miller de 1958 grande parte dos investigadores da área financeira têm procurado encontrar a estrutura de capital óptima para as empresas. A tarefa não se tem revelado simples dada a dificuldade em justificar as escolhas financeira...
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