this study investigates empirically the value investors place in excess cash holdingand how managerial ability impact on the value of cash holding for iranianfirms from 2006 to 2014. in this research, managerial ability calculated by usingthe data envelopment analysis (dea). following the approach of faulkender andwang, we find that the relation between managerial ability and value of cash hold...

This study investigates empirically the value investors place in excess cash holdingand how managerial ability impact on the value of cash holding for Iranianfirms from 2006 to 2014. In this research, managerial ability calculated by usingthe data envelopment analysis (DEA). Following the approach of Faulkender andWang, we find that the relation between managerial ability and value of cash hold...

I quantify a new motive of holding cash through the channel of financing risk. I show that if the access to future credit is risky, firms may issue long-term debt now and save funds in cash to secure the current credit capacity for the future. I structurally estimate the model and find that this motive explains about 30% of cash holdings in the data. Counterfactual experiments indicate that the...

Cash holding is important for Chinese manufacturing firms coping with the increasing costs of financing and tough economic conditions. This study examines impact cash on firm value businesses. We found evidence that a non-linear relationship exists between in these companies. The reveals higher level financially constrained negatively affects value, while unconstrained less have better value. F...

This study aims to determine the effect of cash holding, profitability and financial leverage on firm value, especially in companies basic chemical industrial sectors. research is a quantitative with causal approach. The operational variables consist characteristics as independent value dependent variable. population Manufacturing Companies Basic Industry Chemical Sector Registered IDX 2018-202...