نتایج جستجو برای: marginal value of cash holdings
تعداد نتایج: 21194787 فیلتر نتایج به سال:
Although a firm’s use of shorter-term debt can potentially help it to reduce agency costs of debt and align managers’ interests with those of shareholders, the use of this type of debt increases the firm’s refinancing risk. We hypothesize that firms with debt that has a shorter maturity hold larger cash reserves to reduce important costs they could incur if they have difficulty refinancing thei...
Earnings quality is an effective factor in determining the level of cash holdings in corporations. Some researches indicate that increase in accounting information quality leads to decrease cash holdings. Therefore the main goal of this paper is to review the relationship between earnings quality as independent variable and cash holdings as dependent variable in Tehran Stock Exchange. The other...
Firm cash holdings increased substantially from 1980 to 2013. The overall distribution of firm cash holdings changed in the same period. We study the implications of these changes for monetary policy. We use Compustat data and a model with financial frictions that allows the calculation of the monetary policy effects according to the distribution of cash holdings. We find that the interest rate...
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...
cash is a critical source for business enterprises and creating balance between available cash and the required cash is the most important factor concerning the economic viability of a business enterprise. both of the companies that do not hold enough cash or hold too much cash, face too much problems. this paper investigates the impact of deviation from the estimated optimal cash level on firm...
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