03连老师stata11stata学术专题视频教程61课课程配套.pptxVIP

Corporate Financial Policy and the Value of Cash;Basic Questions;Basic Ideas (Three cash regimes);Basic Conclusions;Empirical Predictions;Empirical Methodology;Empirical Methodology;Data;Summary Statistics;Financial Constraints;Ref to: Almeida, H., M. Campello, M. Weisbach, 2004, The Cash Flow Sensitivity of Cash, Journal of Finance, 59 (4): 1777-1804. 连玉君,苏治,丁志国, 2008, 现金-现金流敏感性能检验融资约束假说吗?, 统计研究, (10): 92-99.;Group I : Low coverage, Low M/B Group II : Low coverage, High M/B Group III : High coverage, Low M/B Which one is the best/worse? ;Extensions;Extensions (cont.)