<p>Cash Holding has a crucial role in every firm. There is lot of consideration why companies keep their cash on hand. These situations depend motive the firm and condition that they have faced. This study aims to determine effect leverage, liquidity, growth opportunity size holding. The sample this are listed from Jakarta Islamic Index (JII) 2012-2019. research method quantitative, using...

We study the implications of financial hedging for corporate cash policy and value holdings. Using a web crawler program to collect data on use derivatives between 1993 2016, we find that US public firms with programs have smaller reserves but higher than without contracts in place. Our empirical results are robust when controlling potential endogeneity issues, governance, regimes alternative m...

We study a dynamic model of firm whose shareholders learn about its profitability and, face costs external financing and holding cash. The shareholders' problem involves notoriously challenging singular stochastic control with two-dimensional degenerate diffusion process. solve it by means an explicit construction value function, derive corporate life-cycle two stages: “probation stage” where i...

We develop a model that endogenizes dynamic financing, investment, and cash retention/payout policies in order to analyze the effect of financial flexibility on firm value. We show that the value of financing flexibility depends on the costs of external financing, the level of corporate and personal tax rates which determine the effective cost of holding cash, the firm’s growth potential and it...