Using a quasi-natural experiment and various measures of competition intensity, we examine whether an increase in product market is key driver firm cash holdings. We find that firms holdings when intense. The results suggest the degree magnified among exposed to high predatory threat financing friction. In addition, if increasing offers competitive advantage market. Our indicate with large rese...

Cash holding or the availability of cash is very important in a company so that must have good management system, especially companies are vulnerable to liquidity crisis. This study aims empirically examine effect capital expenditure, growth opportunities, and flow volatility on holdings. The research was conducted property real estate listed Indonesia Stock Exchange with total sample 30 compan...

Penelitian ini bertujuan untuk menemukan bukti empiris pengaruh cash holding dan ukuran dewan direksi terhadap nilai perusahaan. Selain itu, penelitian juga memasukkan leverage dalam hubungan tersebut. menggunakan data perusahaan sektor industri barang konsumsi yang terdaftar di Bursa Efek Indonesia tahun 2015 sampai dengan 2020. Data diperoleh dari www.idx.co.id, www.financial.yahoo.com, websi...

We document cash management patterns for households that are at odds with the predictions of deterministic inventory models that abstract from precautionary motives. We extend the Baumol–Tobin cash inventory model to a dynamic environment that allows for the possibility of withdrawing cash at random times at a low cost. This modification introduces a precautionary motive for holding cash and na...

This paper analyzes how human capital and economic uncertainty affect capital structure and managerial compensation. We model a competitive industry where wealth constrained managers provide human capital that can be transferred across firms, and where equityholders give managers access to the physical assets of the firm. Equityholders and managers bargain for the firm’s stochastic free cash fl...

This paper examines how ownership structure and institutional development influence the liquidity management and investment policies of firms, in response to the threat of political extraction in China. First, we document evidence that firms controlled by private entrepreneurs hold less cash reserves than their state-owned counterparts. In addition, cash holdings (investments) is positively (ne...

Beginning in 1959, Federal Reserve member banks were allowed to use both vault cash and deposits at Federal Reserve Banks to satisfy statutory reserve requirements. Prior to this time, member banks were restricted to satisfying required reserves solely with deposits at Federal Reserve Banks. Hence, member banks held currency in their vaults only to satisfy daily demands by depositors. Fluctuati...

Taking manufacturing companies of listed from 2015 to 2019 as samples, a fixed effect model is constructed explore the mechanism management’s shareholding and corporate cash holding behavior. The results show that significantly improves value reduces level. Financing constraint negatively moderates influence From perspective life cycle, it found that: for growing, mature, recession companies, m...