References
Amadi, A. (2005). Capital expenditure and long-run profitability: Evidence from the Paper and Forest Products Industry. Proceedings of the Academy of Accounting and Financial Studies, 10(2), 1-10. Amadi, A. (2005). Capital expenditure and long-run profitability: Evidence from the Paper and Forest Products Industry. Proceedings of the Academy of Accounting and Financial Studies, 10(2), 1-10. Kim, S. (2001). The near-term financial performance of capital expenditures: A managerial perspective. Managerial Finance, 27(8), 48-62. Kim, S., &Byunghwan, L. B. (2018).The value relevance of capital expenditures and the business cycle. Studies in Economics and Finance, 35(3), 386-406. Kim, S., Saha, A., & Bose, S. (2021). Do capital expenditures influence earnings performance: Evidence from loss-making firms. Accounting & Finance, 61(S1), 2539-2575. Kim, S.-J., Bae, J., & Oh, H. (2019).Financing strategically: The moderation effect of marketing activities on the bifurcated relationship between debt level and firm valuation of small and medium enterprises. The North American Journal of Economics and Finance, 48, 663-681.Available at: https://doi.org/10.1016/j.najef.2018.08.008. Turner, M. J., &Hesford, J. W. (2019).The impact of renovation capital expenditure on hotel property performance. Cornell Hospitality Quarterly, 60(1), 25-39. McConnell, J. J., &Muscarella, C. J. (1985).Corporate capital expenditure decisions and the market value of the firm. Journal of Financial Economics, 14(3), 399-422. Miller, M. H. & Modigliani, F., (1961).Dividend policy, growth and the valuation of shares. Journal of Business, 5(4), 411-35. Miller, M., & Rock, K., (1985).Dividend policy under asymmetric information. J. Finance, 40: 1031–1051. Miller, M.H. and Modigliani, F. (1966). Some estimates of the cost of capital to the electric unity industry, 1954-57, American Economic Review. Modigliani, F & Miller, M. (1958).The cost of capital, corporation finance, and the theory of investment. American Economic Review, 48 (3), 261-297. Modigliani, F & Miller, M. (1963). Corporate income taxses and the cost of capital: A Correction. American Economic Review, 53(3), 433-443. Modigliani, F. & Miller, M. (1958). The cost of capital, corporation finance and the theory of investment. The American Economic Review, 48, 261–297. Bulama, M., & Musa, D.M. (2023). The role of investment appraisal/capital budgeting techniques in evaluating the profitability of projects: a review of literature. International Journal of Management Science and Business Analysis, 28(7), 56-87. Enekwe, C. I., Nweze, A. U. &Agu, C. I. (2015). The effect of dividend payout on performance evaluation: Evidence of Quoted Cement Companies in Nigeria. European Journal of Accounting, Auditing and Finance Research 3(11), 40-59 Etim, U. U. (2019). Capital expenditure decisions and long term value of the firm: evidence from nigerian manufacturing companies. International Journal of Accounting and Finance (IJAF), The Institute of Chartered Accountants of Nigeria (ICAN), 8(1), 152-169. Herliansyah, Y. (2019). The effect of capital expenditure, company growth and company size on firm value through financial performance moderated by capital structure.Corporate Ownership & Control, 17(1), 236-244. Klammer, T. (1973). The Association of capital budgeting techniques with firm Performance. The Accounting Review, 48, 2, 353-364. Kothari, S., Laguerre, T. E., & Leone, A. J. (2002). Capitalization versus expensing: Evidence on the uncertainty of future earnings from capital expenditures versus R&D outlays. Review of Accounting Studies, 7(4), 355-382. Kuntari, Y., Jatmiko, T., &Prabowo, W. (2019). Capital expenditure of local governments characteristics of audit committee and integrated reporting view project the relationship between corporate social responsibility disclosure and earnings management: Is it a complement mechanism or a substitute mechanism? View project. Ndanyenbah, T. Y (2017). Evolution, collapse and financial sustainability of MFIs and their beneficiaries. Journal of Economics and Sustainable Development, IISTE, 8(13), 123- Taipi, E., &Ballkoci, V. (2019). Capital expenditure and firm performance evidence from Albanian construction sector.European Scientific Journal 13(28), 78-100. Temuhale, J., &Ighoroje, E. J. (2022). Asset structure, capital structure and performance of quoted industrial goods firms in Nigeria. Journal of Research in Business and Management, 8(6),N90-100. Ukhriyawati, C. F., Ratnawati, T., &Riyadi, F. (2017). The influence of asset structure, capital structure, risk management and good corporate governance on financial performance and value of the firm through earnings and free cash flow as an intervening variable in banking companies listed in Indonesia stock exchange. International Journal of Business and Management, 12(8), 249-260.
