Results 271 to 280 of about 593,543 (309)
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2023
Abstract This chapter presents trends for corporate cash holdings and lists the pros and cons of such holdings. The costs of insufficient cash, referred to as “ripple effects,” are discussed in detail. They arise because the firm is unable to invest in value-enhancing projects, must raise expensive external capital, or is forced to sell ...
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Abstract This chapter presents trends for corporate cash holdings and lists the pros and cons of such holdings. The costs of insufficient cash, referred to as “ripple effects,” are discussed in detail. They arise because the firm is unable to invest in value-enhancing projects, must raise expensive external capital, or is forced to sell ...
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Public Finance Review, 2010
This study examines the determinants and implications of nonprofit cash holdings. Based on agency theory and traditional literature of cash holdings, the author develop and test a number of predictions about nonprofit cash holdings. Several important findings can be highlighted.
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This study examines the determinants and implications of nonprofit cash holdings. Based on agency theory and traditional literature of cash holdings, the author develop and test a number of predictions about nonprofit cash holdings. Several important findings can be highlighted.
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SSRN Electronic Journal, 2009
We use a dynamic cash management model in which firms face competitive pressure to show that product market competition increases the cash holdings as well as the size and frequency of equity issues of financially constrained firms. We test these predictions on Compustat firms for the period 1980-2007 and show that product market competition has first ...
Erwan Morellec, Boris Nikolov
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We use a dynamic cash management model in which firms face competitive pressure to show that product market competition increases the cash holdings as well as the size and frequency of equity issues of financially constrained firms. We test these predictions on Compustat firms for the period 1980-2007 and show that product market competition has first ...
Erwan Morellec, Boris Nikolov
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Corporate precautionary cash holdings
Journal of Corporate Finance, 2007This paper models the precautionary motive for a firm's cash holdings. A two-period investment model shows that the cash holdings of financially constrained firms are sensitive to cash flow volatility because financial constraints create an intertemporal trade-off between current and future investments.
Seungjin Han, Jiaping Qiu
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Optimal cash holdings under heterogeneous beliefs
Mathematical Finance, 2014AbstractThis paper explores a one‐period model for a firm that finances its operations through debt provided by heterogeneous creditors. Creditors differ in their beliefs about the firm's investment outcomes. We show the existence of Stackelberg equilibria in which the firm holds cash reserves in order to provide incentives for pessimistic creditors to
Jarrow, Robert +2 more
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Shariah compliance and corporate cash holdings
Research in International Business and Finance, 2019Abstract This study investigates the influence of Shariah compliance status on cash holding levels and the speed of adjustment of non-financial listed firms in six Gulf Cooperation countries from 2005 to 2016. The results show that Shariah compliance status has a significant effect on firms’ cash holding decisions.
Abdullah Bugshan +2 more
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Corporate cash holdings and political connections
Review of Quantitative Finance and Accounting, 2010We examine the relation between corporate liquidity and political connections measured via lobbying expenditures. This is an interesting question as many of the motives for holding cash should be diminished by political connections. Results suggest a significant and inverse relation between cash levels and lobby expenses and that the marginal value of ...
Hill, Matthew D. +3 more
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Customers and cash: How relationships affect suppliers' cash holdings
Journal of Corporate Finance, 2010If one customer accounts for a large portion of a supplier’s sales, then the loss of that one customer can cripple the supplier’s financial health. As a precaution against the additional operating risk induced by being in an important relationship with a customer, I find that suppliers in such relationships hold more cash on average than suppliers that
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Cash Holdings and Corporate Governance
2020This chapter investigates the empirical factors affecting corporate cash holdings with special emphasis on corporate governance variables for a sample of Turkish-listed nonfinancial firms over the period 2006 to 2010. The findings reveal a significant non-linear relation between family ownership and cash holdings.
Akben-Selcuk, E., Sener, P.
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