Cash holding is important for Chinese manufacturing firms coping with the increasing costs of financing and tough economic conditions. This study examines the impact of cash holding on the firm value of Chinese manufacturing businesses. We found evid...
Determining whether an enterprise has target holdings and figuring out how to reasonably determine these cash holdings are common problems faced by all enterprises. This paper first establishes an uncertain optimal cash holdings model with a security...
The present study empirically investigates the effect of corporate governance on the value of cash holding, usage of excess cash, and firm performance in concentrated and competitive industries in the context of less developed countries. The empirica...
This study examines the relationship between corporate cash holdings and firm performance within the IT industry, which is characterized by intense competition and rapid technological advancements. We propose an integrated framework that combines pri...
This study analyzes the influence of operating capital on a firm’s profitability in the manufacturing sector of China. The study investigates that operating capital develops a non-linear relationship with firm profitability by using the ordinar...
The purpose of this research is to investigate whether there is an optimal cash holding ratio, in which firm’s performance can be maximized. The threshold regression model is applied to test the threshold effect of the cash holding ratio on fir...
This study examined the impact of digital finance on corporate cash holdings and the influence of organizational structure and corporate strategy, using the example of A-share-listed companies in China from 2011 to 2018. The results showed that digit...
The objective of this paper is to investigate the impact of coronavirus disease 2019 (COVID-19) on the financial performance and cash holdings of Chinese agri-food companies. We also examine whether or not company ownership, the affected areas, and l...
Based on the sample of Chinese A-share listed companies from 2006 to 2020, this paper studies the impact of regional investment preference on corporate cash holdings. We find that the stronger the investment preference in the region where the company...
Using a sample of 11,365 unique US firms over the period 1966 to 2021, this study examines the relationship between the age of a firm and its cash holdings. We categorize firms as young, mature, or old based on their age or years of operation. Our re...
The management of cash requires careful considerations to allow firms to benefit from proper resource allocations while mitigating agency issues. Accounting comparability can play an important role in tackling information asymmetry and agency cost, t...
In this paper, we extend corporate disclosure and corporate cash holdings literature by testing whether corporate voluntary risk disclosure affects corporate cash holdings for a sample of Tunisian non-financial listed companies. As a measure of risk...
We study the effects of climate change exposure on firms’ cash holdings using a recently developed measure which decomposes the overall exposure into opportunities and uncertainties. We find that firms with a greater overall exposure to climate...
Determinants of a firm’s cash holdings have been a popular topic of research in finance, especially after the rapid surge in cash holdings for U.S. firms since the 1980s. The wide array of research has focused primarily on firm-specific factors...
The present study aims to evaluate the relationship between social capital and cash holdings in firms. The population under study comprises all listed companies on the Tehran Stock Exchange. A total of 175 firms (1050 year-firm) were selected from 20...
This study examines whether related-party transactions (RPTs) impact the value of firms’ cash holdings. Using a 2011–2018 sample of Korean public firms, we find that greater RPTs lead to lower cash holdings value. In particular, this decl...
We study the financial determinants of cash holdings and discuss the importance of firm size in the post-crisis period. We employ panel data regression analysis on a sample of 6629 non-financial and non-utility listed companies in the United Kingdom...
This study investigates the impact of COVID-19 exposure on corporate cash holdings using firm data across sixteen developing and developed economies. The results show that firms reserve more cash when their exposure to COVID-19 increases. We also fin...
Our study investigates how CEO-friendly boards influence the value and utilization of cash resources. In this paper, we analyze two conflicting views on CEO-friendly boards and their impact on corporate cash holdings: one view posits that such boards...
This paper investigates whether gender diversity in the boardroom is associated with corporate cash holdings and whether investor protection moderates the effect of corporate board gender diversity on corporate cash holdings. Using 20,750 firm-year o...
Cash holdings are vital for a firm’s resilience and ability to capitalize on investment opportunities amid economic fluctuations. In this study, the complex relationship between macroeconomic cycles, government policies, and the cash holdings o...
This study examines the impact of a company’s performance in terms of corporate social responsibility (CSR) on investors’ perceptions of corporate cash holdings in South Korea. The study postulates that, in emerging markets, such as South Korea, comp...
This paper investigates to what extent cultural dimensions, based on Hofstede’s model, can clarify differences in cash holding levels. The sample includes 395 banks across 19 countries in the Middle East and North Africa region over a period of 16 ye...
This study verifies investor perceptions of cash holdings in companies with ownership–control disparities in the Korean stock market. The value of the cash held by a company varies with the level of information asymmetry. A high level of inform...
The scope of this study is to examine the impact of board gender diversity on corporate cash-holding decisions within the European sport and leisure sector. A sample of 125 unique firms was selected for the period from 2008 to 2019, and analysis was...
While the effect of ownership structure on the level of cash holdings has been widely examined, that of government ownership has been understudied. Using a generalized method of moments (GMM) estimation on the panel data of 107 Jordanian firms listed...
This work aimed to examine the effect of corporate cash holdings on financial performance. The data covered 536 non-financial firms for the 2006–2020 period from 11 MENA region countries. This study used fixed- and random-effects testing models...
This article aims to examine the voting behaviour of long-term institutional shareholders towards board recommendations on management proposals and resolutions and how the potential agency costs could moderate such voting behaviour. This study is con...
This paper analyzes Chinese A-share listed firms to investigate the influence of climate risks on corporate cash reserves via the supply chain channel. We construct a measure of supplier climate-risk exposure by matching firms’ supplier lists w...
This research investigates the association between corporate social responsibility and cash holdings, while also exploring the moderating effect of board gender diversity on this association. The study utilizes a dataset of non-financial firms listed...
This study investigates the relationship between corporate cash holdings and investment efficiency, with a focus on how COVID-19 and the presence of women directors may influence this relationship. Using data from Indonesian public companies during t...
The objective of the study is to demonstrate how cognitive chief executive officers (CEOs) influence corporate social and environmental performance under the moderating impact of innovation, supervisors and cash holdings. Significantly, we have formu...
This study analyzes the impact of knowledge capital (KC), a key element of firms’ innovation and competitiveness, on stock returns during economic crises when sustainable competitiveness becomes particularly important. We analyze the impact of...
In this paper, we examine the relation between a firm’s research and development (R & D) intensity and dividend payout policy with a focus on biotech firms in a sample of 18,253 firm-year observations in South Korea. We find that biotech fi...
The paper aims to investigate the effect of financial leverage, profitability, liquidity ratios, cash holdings, and interest coverage ratios on the level of integrated reporting disclosure—as one of the reports that promotes sustainable develop...
We examined the effects of access to public debt on the corporate financing decisions in real estate investment trusts (REITs) using a difference-in-differences approach and a propensity score approach. The introduction of credit ratings by S&P a...
This study explores the relationship between a company’s cryptocurrency holdings and its sustainable performance. The study also looks into how factors such as external financial crises, internal financial conditions, and cash shortages affect...
This study explores the conditions under which financialization may foster sustainable total factor productivity (TFP). We examine the inverted U-shaped relationship between corporate financialization and TFP by employing a panel threshold model usin...
In previous works, the importance of risk management implementation was addressed with regard to the problem of bankruptcy threat, with the explanation of risk impact on higher bankruptcy costs or the underinvestment problem. However, the evaluation...
Management with high organization capital, which can be seen as an indicator of superior internal governance, can be expected to exhibit a preference for cash reserves to safeguard assets and mitigate the risk of underinvestment. However, external pa...
Cash ownership emits a powerful positive signal. We examine four sources of cash in firms, i.e., cash flows, cash holdings, cash proceeds from debt, and cash proceeds from equity. We examine the effects of cash ownership for firms growing by disrupti...
Corruption is a major concern globally, particularly in developing countries, such as Bangladesh, where it is the main obstacle to economic development. Corruption is also mentioned as the major impediment to accomplishing sustainable development. Th...
To broaden the operational scope of monetary policy, several authors suggest cash abolition as an appropriate means of breaking through the zero lower-bound. We argue that the welfare costs of bypassing the zero lower-bound by getting rid of cash ent...
This is the first survey conducted in China on the holding of cryptocurrencies. Although cryptocurrencies have existed in the world for more than a decade, because the exchange of cryptocurrencies is banned in China, there is no guidance on the holdi...
We develop a medium size dynamic stochastic general equilibrium (DSGE) model to assess the macroeconomic consequences of introducing an interest-bearing central bank digital currency (CBDC), an electronic alternative of payment with public use proper...
This study aims to analyze the relationship between earnings quality and investment efficiency in the European context, in order to understand whether higher earnings quality mitigates investment inefficiencies. To further understand the relationship...
The present study focuses on how various firm characteristics influence their dividend payout policies. The study finds empirical evidence with regard to primarily two aspects of corporate dividend decisions—dividend increase and decrease, whos...
Australia’s southern cropping systems have limited plant diversity, dominated by cultivation of small grain winter cereals, mainly wheat (Triticum aestivum L) and barley (Hordeum vulgare L.), with a smaller proportion of break crops including c...
This paper studies how analysts’ group affiliation affects firms’ labor investment efficiency. Using a 2001–2017 sample of Korean public companies, we find that labor investment efficiency increases when there are more unaffiliated...
Traditionally, corporate treasury management has been strategically based on the idea of advancing collections and delaying payments, which has been regulated through the intermediation of financial entities using, for example, credit accounts. New t...
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