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DeAngelo, Harry; Gonçalves, Andrei S.; Stulz, René M. - National Bureau of Economic Research - 2021

This paper documents new and empirically important interactions between cash-balance and leverage dynamics. Cash ratios typically vary widely over extended horizons, with dynamics remarkably similar to (and complementary with) those of capital structure. Leverage and cash dynamics interact...

Persistent link: https://www.econbiz.de/10012585454

Why Do U.S. Firms Hold So Much More Cash Than They Used To?

Bates, Thomas W. - 2006

The average cash to assets ratio for U.S. industrial firms increases by 129% from 1980 to 2004. Because of this increase in the average cash ratio, American firms at the end of the sample period can pay back their debt obligations with their cash holdings, so that the average firm has no...

Persistent link: https://www.econbiz.de/10012466129

Is Cash Negative Debt? A Hedging Perspective on Corporate Financial Policies

Acharya, Viral V. - 2005

financial policies such as cash and debt management. It suggests that cash should not be viewed as negative debt …

Persistent link: https://www.econbiz.de/10012467291

Cash burns : An inventory model with a cash-credit choice

Alvarez, Fernando - 2015

We present a model that characterizes the relationship between optimal dynamic cash management and the choice of the … produces a rich set of over-identifying restrictions for consumers' cash-management and payment choices which can be tested …

Persistent link: https://www.econbiz.de/10012457556

Measuring and Explaining Management Practices Across Firms and Countries

Bloom, Nick - 2006

We use an innovative survey tool to collect management practice data from 732 medium sized manufacturing firms in the …-level productivity, profitability, Tobin's Q, sales growth and survival rates. Management practices also display significant cross … tail of extremely badly managed firms. We find that poor management practices are more prevalent when (a) product market …

Persistent link: https://www.econbiz.de/10012466452

Business Practices in Small Firms in Developing Countries

McKenzie, David - 2015

Management has a large effect on the productivity of large firms. But does management matter in micro and small firms … in marketing, stock-keeping, record-keeping, and financial planning. These questions have been administered in surveys in …

Persistent link: https://www.econbiz.de/10012457163