Empirical Research on the Impact of Free Cash Flow on Operating Performance of Listed Companies
- DOI
- 10.2991/icemaess-18.2018.84How to use a DOI?
- Keywords
- Free cash flow, Business performance, Listed companies, Multiple linear regression
- Abstract
Free cash flow can not only assess the past now ability, enterprise can also be built into the evaluation system of the future development of ability, relative profits and cash flow indicators, reflect the business performance of the free cash flow is more comprehensive and effective. Therefore, it is of great significance and value for all stakeholders to study the effect of free cash flow on business performance. In 2794 listed companies in China in 2016 financial data as sample, using multivariate regression method for the empirical analysis, finally draw the conclusion: free cash flow and enterprise management performance has significant positive correlation; The expansion of enterprise scale has a positive effect on business performance, but debt will reduce business performance. The increase of the shareholding ratio of the largest shareholder can improve the corporate performance, while the independent directors cannot effectively play their functions. Therefore, operators should appropriately hold free cash flow, appropriately expand the operation scale, and improve and give play to the independent director system can effectively improve the operation performance of enterprises.
- Copyright
- © 2018, the Authors. Published by Atlantis Press.
- Open Access
- This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).
Cite this article
TY - CONF AU - Yi Qu AU - Bingbing Jia AU - Jianrui Zhang PY - 2018/11 DA - 2018/11 TI - Empirical Research on the Impact of Free Cash Flow on Operating Performance of Listed Companies BT - Proceedings of the 2018 5th International Conference on Education, Management, Arts, Economics and Social Science (ICEMAESS 2018) PB - Atlantis Press SP - 403 EP - 406 SN - 2352-5398 UR - https://doi.org/10.2991/icemaess-18.2018.84 DO - 10.2991/icemaess-18.2018.84 ID - Qu2018/11 ER -