Prior to 2018, U.S. repatriation taxes motivated companies to retain cash offshore. Using confidential jurisdiction …-specific data from the Bureau of Economic Analysis, we find that firms with high tax-induced foreign cash have approximately 3 …, or approximately $98.9-$141.9 billion in aggregate. We next examine motives for firms with tax-induced foreign cash to …

firms retain their cash holdings instead of distributing them as dividends in recent times? How do firms change their … financial crisis? We analyze how the values of the firm's equity and debt are affected by ambiguity. We also show that cash … holdings are retained longer if the investors' ambiguity aversion bias is sufficiently large, while cash holdings become less …