التدفقات النقدية، دورها و اهميتها في تمويل استثمارات الشركات المصرية: دراسة ميدانية

This study attempts to clarify the role and importance of cash flows in financing the investments of Egyptian companies, then projecting the findings to the companies listed on the Algeria Stock Exchange. The study used a sample of forty-five (45) Egyptian companies during the period (1998-2007). In our study, we adopted the multiple regression method to find out the impact of cash flows on corporate investments in the presence of two control variables: investment opportunities and sales growth rate. The study concluded that there is a direct relationship between cash flows and the company's investments. This is due to the tendency of Egyptian companies to expand and increase their investments, including increasing reliance on funding sources.