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Excess Cash Flow

A Signal for Institutional and Corporate Governance

Authors: Dhumale, R.

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  • ISBN 978-0-230-50951-1
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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.

About the authors

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.

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


Table of contents (7 chapters)

Table of contents (7 chapters)

Buy this book

eBook $119.00
price for USA (gross)
  • ISBN 978-0-230-50951-1
  • Digitally watermarked, DRM-free
  • Included format: PDF
  • ebooks can be used on all reading devices
  • Immediate eBook download after purchase
Hardcover $150.00
price for USA
  • ISBN 978-1-4039-0039-5
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
Softcover $99.00
price for USA
  • ISBN 978-1-349-50729-0
  • Free shipping for individuals worldwide
  • This title is currently reprinting. You can pre-order your copy now.

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Bibliographic Information

Bibliographic Information
Book Title
Excess Cash Flow
Book Subtitle
A Signal for Institutional and Corporate Governance
Authors
Copyright
2003
Publisher
Palgrave Macmillan UK
Copyright Holder
Rahul Dhumale
eBook ISBN
978-0-230-50951-1
DOI
10.1057/9780230509511
Hardcover ISBN
978-1-4039-0039-5
Softcover ISBN
978-1-349-50729-0
Edition Number
1
Number of Pages
XVI, 218
Number of Illustrations
11 b/w illustrations
Topics