CEO organizational identification and firm cash holdings

As the decision-makers and implementers of a firm’s financial strategy, executives play critical role in cash holding activities, their psychological characteristics have major impact on holdings. This paper investigates association between CEO organizational identification firm The empirical results show that is negatively associated with holdings, negative more pronounced when level development higher economic uncertainty lower. Further analysis reveals CEO’s identification, R&D investment capital expenditure, high can increase value Overall, our findings supplement literature effect executives’ corporate decision-making.