Free cash flow is the basic decisive factor for valuation of firm, but its definition might be different with the change of users objective.
自由现金流量是企业价值的基本决定因素，而其定义却可能会随着使用者对现金流量分析目的不同而有所不同。
From the Angle of valuation, free cash flow to firm is analyzed and defined, and two kinds of its calculating methods are discussed.
从企业价值评估的角度对自由现金流量进行分析与定义，可以给出自由现金流量的两种计算方法。
Increases in financial flexibility that give managers control over free cash flow may actually cause the value of the firm to decline.
若增加财务灵活性，则会给与管理层更多支配自由现金流的权利，从而可能导致公司价值下降。
Increases in financial flexibility that give managers control over free cash flow may actually cause the value of the firm to decline.
若增加财务灵活性，则会给与管理层更多支配自由现金流的权利，从而可能导致公司价值下降。
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