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Corporate liquidity management : a conceptual framework and survey
Almeida, Heitor; Campello, Murillo; Cunha, Igor; … - 2013
Ensuring that a firm has sufficient liquidity to finance valuable projects that occur in the future is at the heart of … substantial literature on the ways in which firms manage liquidity has developed only recently. We argue that many of the key … issues in liquidity management can be understood through the lens of a framework in which firms face financial constraints …
Persistent link: https://www.econbiz.de/10010227725
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Is there a US high cash holdings puzzle after the financial crisis?
Pinkowitz, Lee; Stulz, René M.; Williamson, Rohan - 2013
Defining normal cash holdings as the holdings a firm with the same characteristics would have had in the late 1990s, we find that the average abnormal cash holdings of U.S. firms after the financial crisis amount to 10% of cash holdings, which represents an 87% increase in abnormal cash holdings...
Persistent link: https://www.econbiz.de/10009782423