Locorotondo, Rosy; Dewaelheyns, Nico; Van Hulle, Cynthia - In: Journal of Business Research 67 (2014) 3, pp. 316-323
This study examines the cash policies of business group members (i.e., affiliates). Using a panel dataset of private Belgian affiliates and comparable non-affiliated firms, the empirical results show that business group affiliates hold significantly smaller amounts of cash as compared to...