Corporate Self-Financing and Market Trust

Corporate Self-Financing and Market Trust examines whether and under what conditions internally generated financial resources strengthen investor trust in listed food and beverage companies. Combining corporate finance theory with comparative evidence from the United States, developed European markets, and emerging European markets, the book develops a trust-centered model of internal financing. It distinguishes internal financing capacity from self-financing and shows that retained earnings, operating cash flow, liquidity, leverage, governance, ESG disclosure, and capital allocation discipline do not influence market trust independently. Their effects depend on institutional context and the credibility with which financial decisions are communicated.

Drawing on company-level data for 2019–2024, the book integrates financial ratio analysis, non-parametric tests, panel regressions, moderation analysis, structural equation modeling, and comparative case studies. It also introduces a multidimensional Investor Trust Proxy based on observable market measures. The book will be valuable to researchers and advanced students in corporate finance, accounting, agribusiness, and sustainability, as well as managers, investors, and policymakers seeking to understand how financing decisions become credible market signals.