Cash flow | Growing period | Mature period | Degenerating period | |||||
Start−up stage | Growing stage | mature | Degenerating | Degenerating | Degenerating | Eliminating | Eliminating | |
Operating cash flow | − | + | + | − | + | + | − | − |
Investing cash flow | − | − | − | − | + | + | + | + |
Financing cash flow | + | + | − | − | + | − | + | − |