مدى تأثير المرونة المالية للمؤسسة في الرفع من قدرتها على الاستثمار : دراسة لعينة من المؤسسات الصناعية

Abstract EN

The main objective of this study is to determine the role of financial flexibility in increasing the companies's ability to invest, using an extensive sample from 280 industrial companies listed in seven financial markets for the period 2010-2014.

To test whether financial flexibility has any impact on investment ability, We use the investment model enhanced by the interaction between financial flexibility dummy varriable and cash flow.

The results show that financial flexibility does not have any impact on the investment ability of companies.

The results also show that the difference in the value of financial flexibility between companies has nothing to do with the ability of these companies to invest.

In other words, these institutions, whether small or large, will not be affected by their investment policy to the extent that they follow a conservative monetary policy, contrary to what was expected.