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Are excess cash holdings more valuable to firms in times of crisis? : financial constraints and governance matters

Chang, Yanhao; Benson, Karen; Faff, Robert W. - In: Pacific-Basin finance journal 45 (2017), pp. 157-173

Persistent link: https://www.econbiz.de/10011800868

Are Excess Cash Holdings More Valuable to Firms in Times of Crisis? Financial Constraints and Governance Matters

Chang, Yanhao - 2014

This study examines the impact of cash holdings on firm value before and during the 2008 financial crisis. In answering this question, our analysis assesses the conditioning effect of financial constraints and corporate governance. In our core analysis we show that the equity market places a...

Persistent link: https://www.econbiz.de/10013048975

Are Excess Cash Holdings More Valuable to Firms in Times of Crisis? Financial Constraints and Governance Matter

Chang, Yanhao - 2014

This study examines the impact of cash holdings on firm value before and during the 2008 financial crisis. In answering this question, our analysis assesses the conditioning effect of financial constraints and corporate governance. In our core finding we show that the equity market places a...

Persistent link: https://www.econbiz.de/10013058798

Are Excess Cash Holdings More Valuable to Firms in Times of Crisis? Financial Constraints and Governance Matter

Chang, Yanhao - 2014

This study examines the impact of cash holdings on firm value before and during the 2008 financial crisis. In answering this question, our analysis assesses the conditioning effect of financial constraints and corporate governance. In our core finding we show that the equity market places a...

Persistent link: https://www.econbiz.de/10013061567

Credit lines as monitored liquidity insurance : theory and evidence

Acharya, Viral V.; Almeida, Heitor; Ippolito, Filippo; … - In: Journal of financial economics 112 (2014) 3, pp. 287-319

Persistent link: https://www.econbiz.de/10010421845

Cash holdings and credit risk

Acharya, Viral V.; Davydenko, Sergei A.; Strebulaev, Ilya A. - 2011

liquidity may be related positively to the longer-term probability of default. Our empirical analysis confirms these predictions …

Persistent link: https://www.econbiz.de/10009009580

Cash holdings and credit risk

Acharya, Viral V.; Davydenko, Sergei A.; Strebulaev, Ilya A. - 2009

Persistent link: https://www.econbiz.de/10003807977

Cash holdings and credit risk

Acharya, Viral V.; Davydenko, Sergei A.; Strebulaev, Ilya A. - 2012

firms with higher cash reserves are less likely to default in the short term, endogenously determined liquidity may be …

Persistent link: https://www.econbiz.de/10010206259

Cash holdings and credit risk

Acharya, Viral V.; Davydenko, Sergei A.; Strebulaev, Ilya A. - In: The review of financial studies 25 (2012) 12, pp. 3572-3609

Persistent link: https://www.econbiz.de/10009714157

When does strategic debt-service matter?

Acharya, Viral V.; Huang, Jing-Zhi; Subrahmanyam, Marti G. - In: Economic theory : official journal of the Society for … 29 (2006) 2, pp. 363-378

Persistent link: https://www.econbiz.de/10003372620

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