Internationalization and Corporate Cash Holdings: Evidence from Brazil and Mexico
نویسندگان
چکیده
منابع مشابه
International Corporate Governance and Corporate Cash Holdings
Agency problems are an important determinant of corporate cash holdings. For a sample of more than 11,000 firms from 45 countries, we find that corporations in countries where shareholders rights are not well protected hold up to twice as much cash as corporations in countries with good shareholder protection. In addition, when shareholder protection is poor, factors that generally drive the ne...
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In this paper, we provide new and complementing international evidence on the relation between cash holdings, corporate governance, and firm value. Our sample consists of a crosssection of 1,875 firms from 46 countries in 2007. We construct eight different measures of firm-level corporate governance based on 64 individual governance attributes provided by Governance Metrics International (GMI)....
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Article history: Received 31 August 2009 Received in revised form 24 May 2010 Accepted 2 June 2010 Available online 10 June 2010 We analyze whether the organizational structure of firms (i.e., whether a firm is diversified or focused) affects their cash holdings. Using Compustat firm level and segment-level data, we find that diversified firms hold significantly less cash than their focused cou...
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The work presented in this thesis is, to the best of my knowledge and belief, original, except as acknowledged in the text. The material has not been submitted, either in whole or in part, for a degree at this or any other university. I Acknowledgements I would like to express my deepest gratitude towards Dr. Kelvin Tan, whose insightful guidance, generous help and encouragement have helped me ...
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We investigate the economic factors driving the unprecedented rise of corporate liquidities since the 1970s. We document that US firms face higher earnings volatility and manage this increased risk with more liquidities in terms of both cash savings and credit lines. The rise in liquidities is not attributable to the increased sales volatility. The higher earnings volatility along with the fina...
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ژورنال
عنوان ژورنال: Revista de Administração Contemporânea
سال: 2015
ISSN: 1415-6555
DOI: 10.1590/1982-7849rac20151452