摘要：The purpose of this paper is to investigate the relationship between the sensitivity of investment cash flows with investment thirst by controlling financial constraints, which the financial constraint using WW and SA indicators. This paper, by developing the Deng et al. Model in 2017, with the use of the concept of soft budget constraint has examined the relationship between the sensitivity of cash flow to investment and investment thirst. This research examines the financial information of 107 companies listed in the Tehran Stock Exchange during the period from 2006 to 2016. The results of the research indicate that the sensitivity of investment inflow flow in different classes of companies with financial constraints and without financial constraints has a significant positive relationship with investment thirst. Therefore, the present study considers the sensitivity of investment cash flow as a suitable measure for measuring Investment thirst. This result could be of interest to policy makers in the field of investment.
