Testing the relationship between free cash flow and capital expenditure in Canadian listed companies

Du, Sigeng

dc.contributor.advisor	Boabang, Francis
dc.coverage.spatial	Canada
dc.creator	Du, Sigeng
dc.date.accessioned	2016-10-21T13:50:51Z
dc.date.available	2016-10-21T13:50:51Z
dc.date.issued	2016
dc.identifier.uri	http://library2.smu.ca/handle/01/26623
dc.description	1 online resource (iv, 41 p.) : ill.
dc.description	Includes abstract and appendices.
dc.description	Includes bibliographical references (p. 36-38).
dc.description.abstract	This paper investigates the relationship between free cash flow and capital expenditure in Canadian listed companies for the period 2010 to 2015. The sample consists of 90 listed companies in Canada drawn from 10 different industries. Firstly, this paper supports the hypothesis that there exists an autocorrelation in the relationship and therefore dynamic panel-data model should be selected. We use Arellano-Bond linear panel-data model to test which variables exhibit autocorrelations in the model. Finally, linear dynamic panel-date estimation would be used to obtain the relationship between free cash flow and capital expenditure. Through the autocorrelation and regression analysis, this paper confirms autocorrelations in free cash flow and capital expenditure. We find a negative relationship between free cash flow and capital expenditure.	en_CA
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dc.description.provenance	Made available in DSpace on 2016-10-21T13:50:51Z (GMT). No. of bitstreams: 1 Du_Sigeng_MRP_2016.pdf: 571683 bytes, checksum: dabbf2a330e3b45730f086934f86f97c (MD5) Previous issue date: 2016-08-24	en
dc.language.iso	en	en_CA
dc.publisher	Halifax, N.S. : Saint Mary's University
dc.title	Testing the relationship between free cash flow and capital expenditure in Canadian listed companies	en_CA
dc.type	Text	en_CA
thesis.degree.name	Master of Finance
thesis.degree.level	Masters
thesis.degree.discipline	Finance, Information Systems, & Management Science
thesis.degree.grantor	Saint Mary's University (Halifax, N.S.)