Three issues are addressed in this paper; What are the important cash holding determinants? Do firms adjust cash levels toward their optimal ones? Do holding more cash contribute to stock return? The data covers between 1998 and 2008 for firms from Korea, Taiwan and Japan. We find that earning...

Spousal and survivor pensions are two important provisions of the US Social Security pension system. In this paper, we assess the impact of these benefits on the female employment rate in the context of a full life‐cycle model in which households decide on female labor supply and savings. One...