This paper provides novel evidence on the accumulation of precautionary cash by European firms over 2000-2017 using a difference-in-difference approach. By increasing corporate borrowing capacity, rising asset tangibility is found to have reduced the need for precautionary cash amongst...

Balancing liquidity, growth and control -- Managing patient capital and shareholder liquidity -- Managing the cost of patient capital -- The role of family governance in family effect -- Keeping, selling, or expanding the family business -- Internal financial solutions : meeting shareholders :...