Global ETD Search
Search theses and dissertations gathered from participating repositories worldwide. Every result links back to the library that holds it. No account is needed.
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Showing 1 to 20 of 30 for “"Cash Holdings"”.
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Essays on international corporate cash holdings
… concerned with the secular trends in corporate cash holdings and the determinants of the changing cash policies for seven industrialized countries--Australia, Canada, France, Germany, Japan, the US, and UK. In the first chapter, we document that a pronounced secular upward trend in cash holdings …
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Essays on Corporate Cash holdings and Business Groups
This dissertation studies corporate cash holdings in Korea, with its own business groups("chaebols"), and the impact of Asian financial crisis in 1997-1998. The first essay examines the effects of cash on performance from 1994 to 2006. It first shows that cash-rich firms are more likely to survive …
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Three essays on the determinants of corporate cash holdings
… three external determinants of corporate cash holdings: interest rates, business cycles, and unlimited FDIC insurance guarantees. In the first essay, theories of the relationship between interest rates and cash holdings are empirically tested. Based on economic theory, corporate cash …
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The effect of idiosyncratic and macroeconomic risk on cash holdings
… the dynamics and determinants of corporate cash holding (or corporate liquidity) in South Africa in three related studies. The first study empirically investigates the sensitivity of corporate cash holdings to changes in idiosyncratic and macroeconomic risk. The analysis is carried out for a …
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An Assessment of the Impact of Working Capital Management on Cash Holdings: Case Study of Listed Companies in Tanzania
… the impact of working capital management on cash holdings. Theoretical perspective, empirical studies and conceptual framework were considered. In data and collection, interviews for collection of primary data and the use of companies’ financial statements and annual reports for the …
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Two Essays on Financial Condition of Firms
… the relationship between the firms' level of cash holdings and governance. The findings show that higher levels of cash holdings are significantly related to strong governance. The results also show that firms with strong governance hold asymmetrically higher levels of cash than firms with …
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The impact of corporate governance and ownership structure on performance and financial decisions of firms : evidence from Jordan
… links between corporate governance and corporate cash holdings. This work significantly contributes to the existing literature on cash holdings by investigating the impact of founding family ownership and large foreign ownership on corporate cash holdings. We find strong evidence that the levels …
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Essays in corporate finance and corporate management
… contains two chapters that study corporate cash holdings and corporate management. Below are the individual abstracts for each chapter.Chapter 1 is titled: Easy Come, Easy Go: Cheap Cash and Bad Corporate Decisions. This chapter investigates the relationship between the sources of a firm's …
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Implications of lump sum costs for empirical design in corporate finance research
… The first study analyzes the dynamics of cash holding management and empirically determines the optimal policy for cash reserves. The framework stipulates that cash management is associated with the following actions: 1) allow cash level to freely float within the range bounded by two …
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Essays in Empirical Corporate Finance
… information asymmetry on capital structure and cash holdings of firms. Firstly, we examine the funding patterns of large and regular investments by large and small public UK firms. Our main finding is that both size of firm and investment are important in explaining differences in funding …
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The impact of the global financial crisis and institutional settings on corporate financial decisions.
… Firms reduce debt financing, retain more cash and cut corporate payouts due to a sharp rise in uncertainty. Moreover, the role of institutional settings on corporate decisions differs following the GFC. Three empirical chapters contribute to the literature: First, Chapter 3 investigates …
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Essays on family business groups, corporate investments, and cash management
… how political uncertainty affects corporate cash holdings. The study’s use of hand-collected data on political incidents of a non-electoral nature instead of national elections to proxy for political uncertainty mitigates endogeneity concerns. Consistent with the precautionary motive for …
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Essays In Corporate Governance
… large shareholders on the relation between cash holdings and firm value for a sample of 2,723 firms from 22 countries. I find that the presence of multiple large shareholders enhances the value of firm's cash. I show that the value of cash is positively associated with an even distribution …
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Three Essays on Empirical Corporate Finance
… factors such as growth opportunities and cash holdings are related with the various features of issued bonds. Second, the state of the macroeconomy affects the quality distribution of securities offered; in particular, during recessions, firms issue far less poor quality bonds than in good …
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Essays in Financial Economics and Econometrics
… constraints, reduce firms’ precautionary cash holdings, and stimulate employment. The second essay analyzes how receivables financing through factoring helps firms smooth cash flows. Using a shift-share instrument and matched administrative data, it finds that cheaper liquidity leads firms …
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The Effects of Anticipated Future Investments on Firm Value: Evidence from Mergers and Acquisitions
… their past acquisitions and their current free cash flow. Specifically, among firms with positive free cash flow, those with the worse history of value-destroying acquisitions experience lower market valuations. Among firms with negative free cash flow, the history of value-destroying …
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Measuring Firm Innovation and its Relationship with IPO and M&A Activities
… Firms that exhibit larger asset and cash holdings, higher profitability, and more R&D investments are in general more innovative in terms of both quality and quantity. In post-IPO or post-M&A years, higher industry sales concentration and geographic concentration tend to correlate …
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Manager Personal Traits and Financial Decisions
… fund shareholders. The first essay is titled as Cash and Connections: The Importance of CFO Networks. In this paper, I present evidence that firms with Chief Financial Officers (CFOs) who have connections to bankers tend to hold less cash. CFO–banker connections reduce information asymmetry …
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Essays in Behavioural Corporate Finance
… decisions (i.e., more capital expenditures and cash holdings) and avoid risky policies (i.e., less research & development expenses, debt financing and dividend payout). Conservative CFOs are less likely to raise more short-term debt. The second chapter explores the impact of directorate …
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