Proceedings of the 2017 International Conference on Management, Education and Social Science (ICMESS 2017)

Financial Flexibility, Operational Cash Flow and R&D Investment

Authors
Yaqiong Wei, Yufang Ding, Huiling Xu
Corresponding Author
Yaqiong Wei
Available Online June 2017.
DOI
10.2991/icmess-17.2017.139How to use a DOI?
Keywords
financial flexibility; operational cash flow volatility; R&D investment
Abstract

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.

Copyright
© 2017, the Authors. Published by Atlantis Press.
Open Access
This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

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Volume Title
Proceedings of the 2017 International Conference on Management, Education and Social Science (ICMESS 2017)
Series
Advances in Social Science, Education and Humanities Research
Publication Date
June 2017
ISBN
10.2991/icmess-17.2017.139
ISSN
2352-5398
DOI
10.2991/icmess-17.2017.139How to use a DOI?
Copyright
© 2017, the Authors. Published by Atlantis Press.
Open Access
This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

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  - Proceedings of the 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  - 10.2991/icmess-17.2017.139
ID  - Wei2017/06
ER  -