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| Recent Progress in Western Research on Financial Flexibility |
| ZENG Aimin,ZHANG Chun,ZHU Chaohui |
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Abstract After the outbreak of the global financial crisis in 2008, Studies on financial flexibility have been paid great attention and emphasis internationally. In order to survive in an operating environment with increasing uncertainties, firms have to maintain desirable financial flexibility when making choices of financial policies. This paper carries on a systematical pectination and literature survey of western theories and evidences, which ranges from the definition of financial flexibility, the acquisition and preservation of financial flexibility, the relationship between financial flexibility and firm’s financing and investment behaviors to the influence of financial flexibility on firm’s performance, and so on, with the view of providing references for further studies in related fields.
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Received: 04 May 2014
Published: 15 October 2014
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Corresponding Authors:
ZENG Aimin
E-mail: chasingsun@126.com
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2014, Vol. 
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