Financial Flexibility, Operational Cash Flow and R&D Investment
Yaqiong Wei, Yufang Ding, Huiling Xu
Available Online June 2017.
- https://doi.org/10.2991/icmess-17.2017.139How to use a DOI?
- financial flexibility; operational cash flow volatility; R&D investment
- Financial flexibility makes the enterprise deal with adversity and grasp the advantage of investment opportunities through the reasonable arrangement of the distribution of cash flow quantity and the distribution of time, so as to improve the adaptability and operating performance of enterprises. Therefore, the paper studies the effect of operating cash flow fluctuation on R&D investment from the perspective of financial flexibility by the least squares estimation method. The empirical results show that the fluctuation of operating cash flow negatively affects R&D investment. Then financial flexibility has a positive adjustment to the correlation of them. By increasing the financial flexibility to weaken the impact of operating cash flow fluctuations on R&D investment.
- Open Access
- This is an open access article distributed under the CC BY-NC license.
Cite this article
TY - CONF AU - Yaqiong Wei AU - Yufang Ding AU - Huiling Xu PY - 2017/06 DA - 2017/06 TI - Financial Flexibility, Operational Cash Flow and R&D Investment BT - 2017 International Conference on Management, Education and Social Science (ICMESS 2017) PB - Atlantis Press SP - 590 EP - 593 SN - 2352-5398 UR - https://doi.org/10.2991/icmess-17.2017.139 DO - https://doi.org/10.2991/icmess-17.2017.139 ID - Wei2017/06 ER -