融资现金流

而长期借款融资现金流、民间融资现金流、政府补贴现金流支持中小企业增长的作用不够。

Long-term loan financing cash flow , non-governmental financing cash flow , cash flow of government subsidies is not enough to support SMEs growth .

研究发现：对于内源融资现金流，超低增长时的相关度高于超高增长时的相关度，而作为外源融资中的第一负债融资方式的短期借款则相反。

It is found in the study that : The relevance of endogenous financing cash flow at ultra-low growth is higher than that at ultra-high growth , while it is opposite of short-term loan , the biggest financing method in exogenous financing .

股权融资现金流与增长关系不显著，但超高增长时，股权融资现金流与增长的相关性最为显著，说明深市中小企业板大大促进了上市中小企业的发展。

The correlation between equity financing and growth is indistinctively , but the relevance at ultra-high growth is highest which shows that the SMEs board in Shenzhen Stock Exchange contributed significantly to the development of SMEs in it .

首先，诠释了融资现金流，融资现金流是以收付实现制为依据，某个融资工具在一个会计期间形成的现金净流量；提出了内源融资现金流计算公式，并证明。

First of all , we interpret what is the financing cash flow , which is net cash-flow amount of a financing tool in an accounting period based on cash basis , and then raise a definition method of endogenous financing cash-flow and prove it .

第三，以深市中小企业板2006-2008年中小制造企业为研究对象，基于可持增长理论检验了中小企业增长与融资现金流的关系。

Thirdly , An empirical Study by the Data of Specimen Corporations in the SMEs Board from 2006 to 2008 , is done , based on sustainable growth theory , to test the relationship between the growth of SMEs and financing cash flow in aggregate , and classification of samples .

融资约束、现金流风险与现金持有的预防性动机

Financial Constraints , Cash Flow Volatility and Corporate Precautionary Cash Holdings

接着，本章对再融资公司的现金流操纵问题进行了理论分析和实证检验。

Thirdly , this chapter applies theoretical analyses and empirical test on cash flow manipulation problem in re-financing companies .

本文采用实证方法，检验我国上市公司融资约束、现金流与投资决策之间的关系。

This paper develops a model that empirically tests the relationship among financial constraint , cash flow and investment decision .

投资的融资效应、自由现金流与企业价值

Effects of Investment on Financing , Free Cash Flows and Enterprise Value

融资约束与现金现金流敏感度来自国内A股上市公司的经验证据

The Cash-Cash Flow Sensitivity and the Financial Constraint : An Empirical Evidence from Chinese A-share Listed Companies

债融资率对自由现金流有显著的正向作用，但是短期负债对自由现金流量有较强的抑制作用，而长期负债对自由现金量却有助长作用。

Debt financing rate on the free cash flow has significant positive effect , but the short-term debt to free cash flow has a strong inhibitory effect , and long-term liabilities , there contribute to the effect of the amount of free cash .