Cash Flow and External Financing in The Covid Pandemic Context and Financial Constraints

Abstract

The article examines the impact of cash flow on the need to increase funding in the Covid pandemic context and the financial constraints of listed companies in Vietnam. We build hypotheses based on the self-ranking match theory framework and research overview. We use data from 5894 observations for 2010-2020 and the general regression model -GLS to test the expected hypotheses. The research results show that cash flow significantly influences the external financing needs of the business. In particular, the cash flow impact and increased need for external financing are more evident in financial constraints and the context of the covid pandemic. The study also shows that the group of companies with financial constraints moved to increase funding when cash flow was in short supply during the Covid pandemic. Besides, the high financial leverage ratio in the previous year can be one of the barriers for businesses that want to access a variety of external financing. The study contributes to the analysis and assessment of the problematic situation of listed companies. In the future, this study can be extended when approaching businesses in the financial sector and evaluating other macro factors that can affect the capital sources of enterprises.

Experimental Investigation of the Effect of Microsilica on the Uniaxial Compressive Strength and Rupture Strain of Fine Sand

“…As can be seen, with the increase of cement and microsilica, the optimal humidity increases according to figure (1). The reason for this is the rise of the specific surface due to the increase in fineness and also the chemical reaction with the increase in the amount of cement materials, which causes the need for more moisture.…”

“…In the current research, the studied soil is a type of fine sand whose characteristics are presented in table (1). The cement used in the experiments is type 2, which is a product of Sofian Cement Factory, and also microsilica produced by Iran's Ferrosilis Factory was used.…”

“…By using other methods such as adding cement materials, stabilization, the desired properties can be created in the soil. If these methods are used correctly, in addition to increasing the quality of the soil, they also have many economic benefits [1,2].…”

Investigating the Seismic Vulnerability of Urban Water Reservoirs Based on Economic Justification

“…Special structures such as water tanks are of such importance that they must have high safety not only in normal and operating conditions but also in critical conditions such as earthquakes. The heavy life and financial consequences caused by the destruction of water reservoirs lead engineers to design such structures in such a way that they can withstand strong earthquakes with minimal damage [3,4]. On the other hand, because the two fluid environments and the structure are in direct contact with each other and the overall response of the system depends on the size between them; The modeling of these structures should be in such a way that it expresses the real behavior of the interconnected fluid-structure system.…”