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

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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.)
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