the aim of this study was to investigate the relationship between growth opportunities, risks, and relative changes in the company's cash assets. this study is a literature study and analysis was based on an analysis of panel data. in this study, a financial data of 112 companies listed in tehran stock exchange during the period 2009 to 2014 have been reviewed. the results in relation to t...

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...

Existence of a monetary steady state is established in a random matching model with divisible goods, divisible money, an arbitrary bound on individual money holdings, and take-it-or-leave-it offers by consumers. The monetary steady state shown to exist has nice properties: the value function, defined on money holdings, is strictly increasing and strictly concave, and the distribution over money...

We investigate a firm’s joint decision to hold cash and to hedge in the presence of financial constraints. The predictions are tested using a sample of manufacturing firms. We confirm the existing evidence of a positive sensitivity of cash holdings to cash flow for financially constrained firms. More importantly, we find a positive sensitivity of hedging to cash flow for constrained firms and, ...

This study examines the role of insider holdings in affecting the decision to announce a repurchase and the associated announcement period stock returns using a conditional event study methodology. We find that firms are more likely to buy back shares if the insiders have large shareholdings and we find that the announcement period returns are greater for firms where insiders have larger holdin...

This paper analyzes the relationships among investment, , and cash flow in a tractable stochastic model in which marginal  and average  are identically equal. In the special, but widely used, case of quadratic adjustment costs, it derives an expression for  that is in closed form, up to an additive constant. After analyzing the impact of changes in the distribution of the marginal operating...

This study investigates the effects of working capital management decisions on market values using a sample data set containing annual measurements for 317 Turkish publicly traded companies between 2010 and 2018. Cash ratio, Current Net Working Capital, Conversion Cycle are used as indicators liquidity policies firms. The specified dynamic model is estimated System GMM estimator. findings show ...