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Governance, product market competition and cash management in IPO firms

Jain, Bharat A.; Li, Joanne; Shao, Yingying - In: Journal of Banking & Finance 37 (2013) 6, pp. 2052-2068

competition on various facets of post-IPO cash policy. Our results suggest that post-IPO cash holdings as well as marginal value … suggest that product market competition influences both the level and marginal value of cash reserves in the hands of founder …

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