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 as much cash and cash equivalents as the median U.S. or U.K. firm. Our results indicate that asset tangibility and firm size...

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

In the light of the recent financial crisis, the discussion on the nature of runs and on the stabilizing role of liquidity holdings has intensified. This paper explores the cash management conducted by German open-end equity funds for the period between 2005 and 2010. Since ownership structures...

We examine the relationship between elections, political connections, and cash holdings in Ghanaian local assemblies. Using a panel dataset of 179local assemblies over a period 2012 to 2017, a panel regression and the generalized method of moments estimation techniques was employed for the...