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Prethodno priopćenje
https://doi.org/10.2478/zireb-2019-0013

Firm Financial Status and Investment Behaviour: Evidence from Manufacturing Firms in Nigeria

Alarudeen Aminu ; Department of Economics, Faculty of Economics, University of Ibadan, Ibadan, Nigeria
Isiaka Akande Raifu ; Department of Economics, Faculty of Economics, University of Ibadan, Ibadan, Nigeria

Puni tekst: engleski, pdf (440 KB) str. 73-92 preuzimanja: 126* citiraj
APA 6th Edition
Aminu, A. i Akande Raifu, I. (2019). Firm Financial Status and Investment Behaviour: Evidence from Manufacturing Firms in Nigeria. Zagreb International Review of Economics & Business, 22 (1), 73-92. https://doi.org/10.2478/zireb-2019-0013
MLA 8th Edition
Aminu, Alarudeen i Isiaka Akande Raifu. "Firm Financial Status and Investment Behaviour: Evidence from Manufacturing Firms in Nigeria." Zagreb International Review of Economics & Business, vol. 22, br. 1, 2019, str. 73-92. https://doi.org/10.2478/zireb-2019-0013. Citirano 30.03.2020.
Chicago 17th Edition
Aminu, Alarudeen i Isiaka Akande Raifu. "Firm Financial Status and Investment Behaviour: Evidence from Manufacturing Firms in Nigeria." Zagreb International Review of Economics & Business 22, br. 1 (2019): 73-92. https://doi.org/10.2478/zireb-2019-0013
Harvard
Aminu, A., i Akande Raifu, I. (2019). 'Firm Financial Status and Investment Behaviour: Evidence from Manufacturing Firms in Nigeria', Zagreb International Review of Economics & Business, 22(1), str. 73-92. https://doi.org/10.2478/zireb-2019-0013
Vancouver
Aminu A, Akande Raifu I. Firm Financial Status and Investment Behaviour: Evidence from Manufacturing Firms in Nigeria. Zagreb International Review of Economics & Business [Internet]. 2019 [pristupljeno 30.03.2020.];22(1):73-92. https://doi.org/10.2478/zireb-2019-0013
IEEE
A. Aminu i I. Akande Raifu, "Firm Financial Status and Investment Behaviour: Evidence from Manufacturing Firms in Nigeria", Zagreb International Review of Economics & Business, vol.22, br. 1, str. 73-92, 2019. [Online]. https://doi.org/10.2478/zireb-2019-0013

Sažetak
The study examines firm’s investment behaviour sensitivity to cash flow before, during and after the recent global financial crisis using the data of 28 firms listed on the Nigerian Stock Market during the period from 2001 to 2012. The contribution of the study to the existing literature rests on using financial crisis as basis for classifying firms as either financially constrained or unconstrained. Employing the panel data and instrumental variable estimation techniques, the study finds that firms’ investment behaviour sensitivity to cash flow was higher during the financial crisis than before or after the financial crisis. In other words, Nigerian firms were highly financially constrained during the last financial crisis.

Ključne riječi
firms’ investment; cash flow; Tobin’s q; panel data analysis; instrumental variables

Hrčak ID: 220483

URI
https://hrcak.srce.hr/220483

Posjeta: 217 *