چکیده:
Financial flexibility is one of the essential topics in financial management and investment management discussions. Financial flexibility helps decision-makers in making optimal and reasonable decisions in facing future growth opportunities of the company and leads to the company's entry into investment markets. Financial flexibility is essential as a basis for assessing the company's ability to evaluate liquidity. This ability determines the capacity of the business unit to make payments such as paying salaries and benefits to employees, paying suppliers of goods and services, paying financial expenses, making investments, repaying received facilities, and distributing profits among shareholders. Financial flexibility is a determining factor for an optimal and desirable capital structure and expresses how much of the company's resources are provided through internal resources and how much through external resources. Financial flexibility increases firm value and also has a positive relationship with stock prices. Accordingly, in this article, the theoretical foundations of financial flexibility and its impact on investment in fixed assets and firm value will be explained.
خلاصه ماشینی:
An Introduction to the Relationship between Financial Flexibility with Investment in Fixed Assets and Firm Value Dr. Seyed Abbas Hashemi Islamic Azad University, Mobarakeh Branch Seyed Ahmad Sajjaddoost Master of Accounting Student, Islamic Azad University, Mobarakeh Branch Abstract Keywords Introduction Correct decision-making at the level of economic enterprises requires the existence of transparent financial information.
Financial flexibility enables the business unit to make good use of unexpected investment opportunities and in Financial Flexibility Marchica and Mura a period in which cash flows from operations, for example due to an unexpected decrease in demand for the business unit's manufactured products, are at a low or possibly negative level, to continue its existence (Accounting Standards Board, 2007).
The Financial Accounting Standards Board (FASB) 3 defines financial flexibility as a company's ability to create effective activities to correct and adjust cash flows that can respond to unforeseen needs and opportunities (Byoun 4 , 2007).
According to this view, financial flexibility means the ability to borrow from various sources to increase shareholders' equity, as well as selling and transferring assets to adjust levels and direct operations in order to face changing conditions.
Heath American Institute of Certified Public Accountants Financial Accounting Standards Bords Byoun Bernstein Volberda 1 (1998) defines financial flexibility as the ability to create profitable activities following imposed changes in the business environment, as well as adapting to predicted changes that overshadow the company's objectives.
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