The substitution effect of shocks cash flow in companies with more tangible assets

Abstract

The fundamental aim of this study to examine the sensitivity, outside the company’s financial resources to changes in cash flow under conditions of financial constraints and the economic crisis. In accordance with the goal, 1, who was the main hypotheses on the relationship between the variables focused on basic research. 102 statistical model research company adopted in the securities market Tehran that they are data for a period of 6 - year - old from 2008 to 2013 and statistical analysis. Research hypotheses through multiple regression models considering findings suggest that the relationship between finance outside the company with domestic sources of cash (cash flow), companies with assets of more evident in, has been higher. In other words, in the firms with higher, the intensity of the Finance obvious successor financial resources of companies with domestic financial resources, has been higher