This paper investigates the determinants of Swiss non-financial firms’ cash holdings overthe 1995 to 2004 period. The median Swiss firm holds almost twice as much cash andcash equivalents as the median UK or US firm. Our results indicate that there is a negativerelationship between asset...

This paper investigates the determinants of a broad sample of Swiss non-financial firms’cash holdings between 1995 and 2004. The median Swiss firm holds almost twice asmuch cash and cash equivalents as the median U.S. or U.K. firm. Our results indicate thatasset tangibility and firm size are...