Results 271 to 280 of about 596,057 (308)
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Misvaluation and the Corporate Propensity to Hold Cash
SSRN Electronic Journal, 2021Abstract This study adopts a new perspective, misvaluation, to explain corporate propensity to hold cash. We find a strong cross-sectional relationship between misvaluation and the propensity to hold cash, which can be attributed to firms' investment, cash dividends, and equity raising activities.
Chou, Robin K. +2 more
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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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Journal of Applied Corporate Finance, 2001
There have been several cases in recent years—most notably, Chrysler—in which shareholders have objected to the level of companies' holdings of cash and other liquid assets. This paper describes the authors' study of the determinants of liquid asset holdings by publicly traded U.S. firms and how these holdings change over time. For those companies that
Tim Opler +3 more
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There have been several cases in recent years—most notably, Chrysler—in which shareholders have objected to the level of companies' holdings of cash and other liquid assets. This paper describes the authors' study of the determinants of liquid asset holdings by publicly traded U.S. firms and how these holdings change over time. For those companies that
Tim Opler +3 more
openaire +1 more source
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 ...
openaire +1 more source
Journal of Management World
This paper has objective to explore determinant of Cash Holding in Emerging Market. Variable is used to determine cash holding which is Gross Profit Margin, Accounts Receivable and Account Payable, Return on Assets, Debt to Equity Ratio, Interest Rate and COVID-19. This paper used panel data model to estimate relationship among variable.
Adler Haymans Manurung +4 more
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This paper has objective to explore determinant of Cash Holding in Emerging Market. Variable is used to determine cash holding which is Gross Profit Margin, Accounts Receivable and Account Payable, Return on Assets, Debt to Equity Ratio, Interest Rate and COVID-19. This paper used panel data model to estimate relationship among variable.
Adler Haymans Manurung +4 more
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Value of Cash Holdings and Accounting Conservatism
SSRN Electronic Journal, 2011We posit that accounting conservatism could mitigate the value destruction associated with increases in cash holdings. Consistent with this conjecture, we find that the market value of an additional dollar in cash holdings increases in accounting conservatism.
Urcan, O, Louis, H, Sun, A X
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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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Corporate Governance and the Value of Cash Holdings
SSRN Electronic Journal, 2005Abstract We investigate how corporate governance impacts firm value by comparing the value and use of cash holdings in poorly and well-governed firms. We show that governance has a substantial impact on value through its impact on cash: $1.00 of cash in a poorly governed firm is valued at only $0.42 to $0.88.
Amy Dittmar, Jan Mahrt-Smith
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