Bukalska, Elżbieta; Maziarczyk, Anna; Ociesa, Kinga - In: Journal of banking and financial economics 18 (2022) 2, pp. 94-108
operating cash flow, both dividends and investment increase. We think that the best explanation of our findings lies in the free … cash flow hypothesis and signaling theory of dividends. Dividends and investment might be a tool to mitigate managerial … situation. The results contribute to the literature on firms' investment- and dividend-cash flow sensitivity and the order of …