This study examines a relationship between corporate financial risk and board “busyness”. We offer new insights by evaluating two conflicting views on the quality of service that busy directors provide to corporate boards and their impact on board effectiveness. One view claims that directors who serve on multiple boards improve board decision making ability as they have better experience and b...

This paper examines the impact of corporate environmental, social and governance (ESG) disclosure on cash holdings, specifically during various stages firm life cycle S&P 1500 indexed firms. Using a sample 9811 firm-year observations from 2006 to 2015, we document significantly negative relation between ESG holdings in introduction, growth shake-out/decline stages, those lower are associated wi...

Firm cash holdings increased substantially from 1980 to 2013. The overall distribution of firm cash holdings changed in the same period. We study the implications of these changes for monetary policy. We use Compustat data and a model with financial frictions that allows the calculation of the monetary policy effects according to the distribution of cash holdings. We find that the interest rate...

holding cash is a matter of managerial discretion. theaim of this paper is to contrast the effect of accruals quality on cashholding for a sample of 120 firms listed in the tehran stock exchangeduring 2001-2011.the results show that firms with good accruals quality hold lower cashlevels than firms with poor accruals quality. this result conform thefindings of teruel & solano (2009), which state...

Recent research documents evidence that stock liquidity and asset are associated. In the literature, some finds effect of on whereas corporate liquidity. This study examines causality relationship between a firm’s its cash holdings. We use Granger for dataset listed non-financial companies. find bidirectional two variables. The shows from to holdings is weaker than otherwise. Furthermore, our f...

This paper studies the effects of corporate cash holdings on firm pricing strategy. Focusing on the airline industry to identify markets and rivalry, and utilizing the Aviation Investment and Reform Act of the 21 Century (AIR-21) as a quasi-natural experiment to identify exogenous increases in market-level competition, I test the effect of ex-ante relative-to-rival cash holdings on ex-post chan...