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About this book
Economic studies which examine the financing patterns of firms, particularly in emerging markets seldom consider the market environment in which they operate. The most recent Asian financial crisis and its exposure of institutional failures in the context of financial sector liberalization show that these market conditions are vital. The positive relationship between a firms excess cash flow and investment are well known but the environment which determines retention of cash as opposed to paying dividends remains unresolved. The results of this survey suggest a framework by which future research in data collection, theoretical analysis and empirical testing may be undertaken.
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Table of contents (7 chapters)
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Front Matter
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Back Matter
Reviews
'This book focuses on important issues in relation to emerging markets: corporate governance, corporate finance, financial liberalisation and financial regulation. The significance of these issues has been highlighted by the recent Asian crisis. Dr Dhumale's book is therefore extremely timely. He provides a penetrating analysis of these issues with particular reference to the Indian economy. Economists in financial institutions, in universities and government will be greatly in Dr Dhumale's debt for this significant and original research study which focuses on a major emerging market, but which has much wider application.' - Ajit Singh, Professor of Economics, Cambridge University
About the author
RAHUL DHUMALE is presently with the Policy and Analysis Group at the Federal Reserve Bank of New York. He has previously worked as a consultant with the World Bank, International Labour Organisation, the UNDP, and the International Monetary Fund. He holds an A.B. from Duke University, MSc. from Oxford University, and a Ph.D. from Cambridge University. Most recently, he was a member of the Faculty at Cambridge University where he taught and worked on issues related to financial regulation and corporate finance. He is presently also a Senior Fellow at the University of London.
Bibliographic Information
Book Title: Excess Cash Flow
Book Subtitle: A Signal for Institutional and Corporate Governance
Authors: Rahul Dhumale
DOI: https://doi.org/10.1057/9780230509511
Publisher: Palgrave Macmillan London
eBook Packages: Palgrave Economics & Finance Collection, Economics and Finance (R0)
Copyright Information: Rahul Dhumale 2003
Hardcover ISBN: 978-1-4039-0039-5Published: 31 October 2002
Softcover ISBN: 978-1-349-50729-0Published: 01 January 2003
eBook ISBN: 978-0-230-50951-1Published: 31 October 2002
Edition Number: 1
Number of Pages: XVI, 218
Number of Illustrations: 11 b/w illustrations
Topics: Corporate Finance, Risk Management, Business Finance, Corporate Governance