Evaluating the Relations between the Financing Policy and a Company's Cash Flow

摘要

The financing policy represents the effect of management decisions on the evolution of capital structure. A company's cash flow must be analyzed, in order to evaluate management decisions. Our study aims at showing the influence of the financing policy on cash flow, and also the influence of the evolution of net cash flow on future financing policies, identifying the elements able to be used for establishing the optimal structure of capital.