Corporate Investment and Cash-Flow Sensitivity: Evidence from a Jasmin Revolution Period in Tunisian Market

Abstract

This study investigates the impact of financial constraints on investment decisions and corporate cash holding of Contribution/ OriginalityThe study contributes to the existing literature by considering jointly the effects of financial constraints on investment decisions and corporate cash holding. It believes that constrained firms present investment cash-flow sensitivity higher than firms less constrained and conversely, they present lower cash-flow cash sensitivity.