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Volume 56 - December 2021

Contents

Page 6 of 6

Back Cover (OBC, IBC) and matter

  • JFQ volume 56 Issue 3 Cover and Back matter

  • Published online by Cambridge University Press:
    09 April 2021, p. b1
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Research Article

  • Why Did the Investment–Cash Flow Sensitivity Decline over Time?

  • Zhen Wang, Chu Zhang
  • Published online by Cambridge University Press:
    04 August 2020, pp. 2272-2308

  • We propose an explanation for why corporate investment used to be sensitive to cash flow and why the sensitivity declined over time. The sensitivity stems from the informational role of cash flow in inferring the productivity of tangible capital in the old economy. Over time, however, more new-economy firms enter the market. These firms have reduced tangible capital productivity and reduced cash-flow predictability, which drives the decline in the average investment–cash flow sensitivity. Theoretical and empirical analyses support this explanation.

Back Cover (OBC, IBC) and matter

  • JFQ volume 56 Issue 1 Cover and Back matter

  • Published online by Cambridge University Press:
    13 January 2021, pp. b1-b3
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  • JFQ volume 56 Issue 4 Cover and Back matter

  • Published online by Cambridge University Press:
    25 May 2021, pp. b1-b4
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Front Cover (OFC, IFC) and matter

  • JFQ volume 56 Issue 6 Cover and Front matter

  • Published online by Cambridge University Press:
    07 September 2021, pp. f1-f4
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Back Cover (OBC, IBC) and matter

  • JFQ volume 56 issue 8 Cover and Back matter

  • Published online by Cambridge University Press:
    03 December 2021, pp. b1-b4
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  • JFQ volume 56 Issue 6 Cover and Back matter

  • Published online by Cambridge University Press:
    07 September 2021, p. b1
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Page 6 of 6