Cette étude examine la relation entre diversité de genre dans les conseils d’administration et trésorerie (c’est-à-dire le risque liquidité) excédentaire des entreprises d’agence). En utilisant un échantillon sociétés françaises cotées à l’indice SBF 120 sur période 1998-2015, nous constatons une positive significative au sein surveillance pour deux mesures ratio ajusté par secteur) négative av...

This paper examines how firms adjust cash holdings following horizontal mergers in the industry. Using a sample of 16,597 between US from 1984 to 2016, we find that three-year period mergers, marginal value decreases for rivals with lower investment opportunities. Rivals low Tobin's Q reduce while high hold more cash. These results suggest rival pattern is consistent their We also examine possi...

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...

The psychological factors of senior executives have an important impact on the firm’s financial policies. In this paper, we investigate association between CEO risk-taking entrepreneurial spirit and firm cash holdings, find that firms with higher less holdings. Further, financing constraints can mitigate negative whereas needs enhances them. Mechanism test illustrates affects holdings through c...

An examination of survey responses about Individual Retirement Account (IRA) holdings reveals that individuals often take all-or-nothing approaches in their decisions to diversify across the asset categories of cash, bonds, and equity. Two thirds of survey respondents put their entire IRA holdings into a single asset category. A surprisingly large proportion of funds is held in cash, while only...

We comprehensively examine the effects of stock return volatility on firms’ financial and investment decisions. Consistent with theories of investment with financing frictions, firms with high volatility actively reduce their leverage, cut investment, increase cash holding, cut non-cash current assets such as inventories and account receivables, and cut dividend. The effects of volatility are s...