We study the effects of firm-level exposure to an epidemic disease on corporate cash holdings amongst U.S firms. Using a text-based measure diseases and difference-in-difference estimation strategy, we document positive relationship between onset holdings. find that, all recent epidemics, COVID-19 has strongest impact that this effect is mostly driven by negative sentiments around pandemic.

The management of cash requires careful considerations to allow firms benefit from proper resource allocations while mitigating agency issues. Accounting comparability can play an important role in tackling information asymmetry and cost, thus enabling managers hoard more cash. This research aims investigate the link between accounting holdings emerging market. Using a sample listed Vietnam 201...

The increase in cash holdings held by non-financial corporations emerging economies general, and Latin American particular, has received less attention vis-à-vis their advanced economies’ peers. Considering that contain not only but also short-term, interest-bearing assets, we test whether the pursuit of financial revenues was one motive behind decision to hold this type asset as it is claimed ...

This paper provides new evidence on how the cost of carry is linked to corporate cash policy in presence financial frictions. Using both time-series and firm-level data for US public private manufacturing firms, we find a negative correlation between holdings financially unconstrained firms. We no such relation constrained Our results suggest that constraints play an important role adjusting ch...

The purpose of this study is to investigate the effective of investment inefficiency and cash holding on CEO turnover. This study applies logistic regression method estimator to investigate the relationship between examine the effective of investment inefficiency and cash holding on CEO turnover of 1,309 firm-year observations in Iran for the period of 2009-2019.  According to positive relati...

We study the causal effect of labor unions on corporate payout policy by using a regression discontinuity (RD) design. Passing a union election leads to an 8.7% lower dividend ratio and a 17.9% lower total payout ratio (including both dividends and share repurchases) than failing an election in the following year. The negative effect of unions on payout is absent in firms located in states with...