M.A. Thesis:

Intangible assets and cash flows

This study is concerned with examining the effect of investment in intangible assets on the cash flows of the companies admitted at the Tehran Stock Exchange. The cash flows are classified into three types: cash flow from operating activities, financing activities and investment activities. For this purpose, the information related to 137 companies active in the Stock Exchange was gathered during 2011-2015 and were analyzed using Eviews statistical software. The research methodology employs the multivariate regression and the data displayed on the quotation boards. Based on the results obtained in this research as well as in the statistical tests, it can be said that there is a negative and significant correlation between the intangible assets and cash flow from operating activities. In addition, the findings show a positive and significant correlation between the intangible assets and the total cash flows. However, no significant correlation was found between the intangible assets and other types of the cash flow.

Keywords: Cash Flow From Operating Activities, Cash Flow From Investment Activities, Cash Flow From Financing