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Using a dataset of 107 listed firms in Jordan from 2009 to 2018, we employed the generalized method of moments (GMM) to … individual and foreign ownership, were found to be insignificant. We further examined why firms in Jordan hold cash, concluding …
Persistent link: https://www.econbiz.de/10014516622
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We examine the impact of corporate governance on cash holdings and the interplay of family ownership on this relationship through static and dynamic panel estimation models. Composite indicator for the corporate governance based on several proxies related to corporate board structure and...
Persistent link: https://www.econbiz.de/10012654887
liquidity holdings has intensified. This paper explores the cash management conducted by German open-end equity funds for the …. Conditional on poor portfolio liquidity, we find that managers of permanently retail-oriented funds tend to move towards higher … when the portfolio liquidity of retail-based funds is higher. The striking effort undertaken by poorly liquid funds with a …
Persistent link: https://www.econbiz.de/10010202775
Using a unique sample of newly privatized firms from 59 countries, this study provides new evidence about the agency costs of state ownership and new insight into the corporate governance role of country-level institutions. Consistent with agency theory, we find strong and robust evidence that...
Persistent link: https://www.econbiz.de/10012970406
We examine whether business groups’ influence on cash holdings depends on ownership. Group affiliation can increase firms’ agency costs or benefit firms by providing an internal capital market, especially in transition economies characterized by weak investor protection and difficult...
Persistent link: https://www.econbiz.de/10011844586
The purpose of this paper is to investigate the impact of board attributes and insider ownership on cash holdings of non-financial firms listed on Karachi Stock Exchange (KSE) Pakistan during 2008-2012. Empirical results indicate that board attributes such as CEO duality, board size and board...
Persistent link: https://www.econbiz.de/10011927758
This study solves the dispute between the free cash flow and tunneling hypotheses in explaining the role of cash dividends on asset expropriation of the controlling shareholders in Chinese listed firms. Investors value more the cash dividends and the cash holdings of firms with lower ownership...
Persistent link: https://www.econbiz.de/10011823464
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