Stock Liquidity and Corporate Cash Holdings: Feedback and the Cash as Ammunition Hypothesis We advance the feedback/cash as ammunition hypothesis, namely that firms hold cash to address feedback from stock prices to cash flows and growth opportunities. Firms with more liquid stocks are expected to hold more cash, the opposite of the prediction from a standard information asymmetry perspective o...

issuance value, redemption value and net value of issuance and redemption of investment units is called cash flow to mutual funds. this cash flow to mutual funds is used as an investor sentiment index, when there is significant relationship between cash flow to mutual funds and market return. in this paper, relationship between these two items is to be evaluated. monthly and weekly cash flow to...

The third generation technology will confer to mobile phones all the capacity and speed of a fixed line phone with the additional flexibility of mobility. Major investments in 3G installation facilities are planned in developed economies; the reported investment plans indicate “leader-follower” patterns. Using three real competition options models, we determine the optimal timing of 3G investme...

one of the goals of financial reporting is to provide the useful information in order to facilitate the decision making. accounting information system is of high importance for the users to make specific decisions. the information should be analyzed to present the valuable information to the investors so that in this paper, the relative content and return additive with cash recovery have been a...

This paper analyzes the relationships among investment, , and cash flow in a tractable stochastic model in which marginal  and average  are equal. Using a Markov regime switching process to generate the marginal operating profit of capital, the paper analyzes the impact of a mean-preserving spread on the unconditional distribution and a change in the persistence of the marginal operating pro...