aaccording to the trade-off theory, firm managers consider the transaction and precautionary motives to determine the optimal level of cash by comparing the benefits and costs of cash holdings. the purpose of this paper is to examine the impact of deviation from expected optimal cash on future stock returns among irans’s listed companies (tehran stock exchange). the analyses are performed by us...

the purpose of this study is to investigate the relationship between free cash flows and stock return considering managers' myopia. two hypotheses have been designed and tested, selecting 96 firms from accepted companies in the tehran stock exchange for six-year period from 2005 to 2010 and using stock return for three years ahead (to 2012). the results show that free cash flows are negati...

Resum Cash management is concerned with optimizing costs of short-term cash policies of a company. Different optimization models have been proposed in the literature whose focus has been only placed on a single objective, namely, on minimizing costs. However, cash managers may also be interested in risk associated to cash policies. In this paper, we propose a multi-objective cash management mod...

Resum Cash management is concerned with optimizing costs of short-term cash policies of a company. Different optimization models have been proposed in the literature whose focus has been only placed on a single objective, namely, on minimizing costs. However, cash managers may also be interested in risk associated to cash policies. In this paper, we propose a multi-objective cash management mod...

Resum Cash management is concerned with optimizing costs of short-term cash policies of a company. Different optimization models have been proposed in the literature whose focus has been only placed on a single objective, namely, on minimizing costs. However, cash managers may also be interested in risk associated to cash policies. In this paper, we propose a multi-objective cash management mod...

Resum Cash management is concerned with optimizing costs of short-term cash policies of a company. Different optimization models have been proposed in the literature whose focus has been only placed on a single objective, namely, on minimizing costs. However, cash managers may also be interested in risk associated to cash policies. In this paper, we propose a multi-objective cash management mod...

The authors develop a conceptua] framework of the marketing-finance interface and discuss its implications for the theory and practice of marketing. The framework proposes that marketing is concerned with the task of developing and managing market-based assets, or assets that arise from the commingling of the firm with entities in its external environment. Examples of market-based assets includ...

An examination of survey responses about Individual Retirement Account (IRA) holdings reveals that individuals often take all-or-nothing approaches in their decisions to diversify across the asset categories of cash, bonds, and equity. Two thirds of survey respondents put their entire IRA holdings into a single asset category. A surprisingly large proportion of funds is held in cash, while only...

This paper explores the hypothesis that the rise in intangible capital is a fundamental driver of the secular trend in US corporate cash holdings over the last decades. Using a new measure, we show that intangible capital is the most important firm-level determinant of corporate cash holdings. Our measure accounts for almost as much of the secular increase in cash since the 1980s as all other d...

Resum Cash management is concerned with optimizing costs of short-term cash policies of a company. Different optimization models have been proposed in the literature whose focus has been only placed on a single objective, namely, on minimizing costs. However, cash managers may also be interested in risk associated to cash policies. In this paper, we propose a multi-objective cash management mod...