This paper examines the impact of the COVID-19 pandemic on the adjustments of dividends and share repurchases of publicly listed firms in the G-7 countries. Firms in the United Kingdom, Germany, France, and Italy experienced a widespread cut in dividends, while firms in the United States and...

We examine the difference in cash holdings between high-tech and non-high-tech firms from 1974 to 2007. The average cash-to-assets ratio of non-high-tech firms remained stable throughout the period. In contrast, the average cash ratio of high-tech firms more than tripled from 1980 to 2007. This...