Non-Linear Target Adjustment in Corporate Liquidity Management: An Endogenous Thresholds Approach

We provide new empirical evidence on non- linear liquidity management in Dutch firms. Our results reveal that liquidity adjustment from below the target is significantly faster than from above. We find no evidence for bands of inaction around the target.

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Year of publication:	2006-02
Authors:	Bruinshoofd, W. Allard ; Kool, Clemens J. M.
Institutions:	de Nederlandsche Bank
Subject:	Corporate liquidity management \| Non-linear adjustment \| Endogenous thresholds \| Panel approach

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Extent:	application/pdf
Series:	DNB Working Papers.
Type of publication:	Book / Working Paper
Language:	English
Classification:	C33 - Models with Panel Data ; E41 - Demand for Money ; G3 - Corporate Finance and Governance
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005106668