The level of cash held by listed companies has raised academic interest. In particular, many studies have been conducted to understand the reason why hold so much cash. Previous on determinants holdings focused firm-specific characteristics. More recently, researchers found that stock liquidity played an important role in explaining holding behaviour. This study examines effect among Malaysia. ...

In this paper we offer the first large sample evidence on the availability and usage of credit lines in U.S. public corporations and use it to re-examine the existing findings on corporate liquidity. We show that the availability of credit lines is widespread and that average undrawn credit is of the same order of magnitude as cash holdings. We test the trade-off theory of liquidity according t...

This paper uses the second-generation antitakeover legislation as a natural experiment to understand corporate governance in‡uence on managerial decisions, speci…cally by examining in‡uences on …rms’liquidity choices between cash and loan commitments. These choices di¤er primarily in the allocation of ex-post control rights of …rms’liquidity reserves, which may lead to disagreement among stakeh...

The purpose of this paper is to identify the determinants and indicate their impact on company’s cash holdings in wholesale industry ten Balkan countries. Effective management key any healthy smooth business operation, so comprehending analyzing relationship between internal vital. sample used for work included 106 companies, whose operations were studied over a four-year period (2014–2017), us...

Globally, corporate cash holdings have risen since the 1980s. In South Africa, some commentators accused corporations of engaging in an ‘investment strike’, while others see liquidity as a precaution against systemic uncertainty. We use unique African Revenue Service/National Treasury firm-level dataset to scrutinize liquidity, using panel analysis. Relative GDP, and not increased between 2010 ...