Results 271 to 280 of about 181,890 (312)
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Cash Holdings in Private Firms
SSRN Electronic Journal, 2009Abstract Evidence from a wide sample of Italian private firms shows that cash holdings are significantly related with smaller size, higher risk and lower effective tax rates, therefore supporting predictions from the trade-off model. More cash is also held by firms with longer cash conversion cycles and lower financing deficits, as predicted by the ...
BIGELLI, MARCO, J. Sanchez Vidal
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Trust and Corporate Cash Holdings
SSRN Electronic Journal, 2015We examine the relation between the level of trust in a country and corporate cash holdings. Agency theories predict that shareholders in countries with low levels of societal trust will pressure firms to disgorge cash. Precautionary savings motives predict that firms located in countries with less trusting societies will hoard more cash in order to ...
Evan Dudley, Ning Zhang
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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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