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Cash Holdings of German Open-End Equity Funds : Does Ownership Matter?
Dötz, Niko - 2013
period between 2005 and 2010. Since ownership structures may have important consequences according to recent work, we … distress. We conclude that conditional on their liquidity status, these funds use cash as a device to provide for the ownership …
Persistent link: https://www.econbiz.de/10013072782
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Cash Holdings of German Open-End Equity Funds : Does Ownership Matter?
Dötz, Niko - 2016
period between 2005 and 2010. Since ownership structures may have important consequences according to recent work, we … distress. We conclude that conditional on their liquidity status, these funds use cash as a device to provide for the ownership …
Persistent link: https://www.econbiz.de/10012988654
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Are Excess Cash Holdings More Valuable to Firms in Times of Crisis? Financial Constraints and Governance Matter
Chang, Yanhao - 2014
This study examines the impact of cash holdings on firm value before and during the 2008 financial crisis. In answering this question, our analysis assesses the conditioning effect of financial constraints and corporate governance. In our core finding we show that the equity market places a...
Persistent link: https://www.econbiz.de/10013061567
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Cash holdings of German open-end equity funds: Does ownership matter?
Dötz, Niko; Weth, Mark - 2013
period between 2005 and 2010. Since ownership structures may have important consequences according to recent work, we … distress. We conclude that conditional on their liquidity status, these funds use cash as a device to provide for the ownership …
Persistent link: https://www.econbiz.de/10010326840
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Cash holdings of German open-end equity funds: Does ownership matter?
Dötz, Niko; Weth, Mark - Deutsche Bundesbank - 2013
period between 2005 and 2010. Since ownership structures may have important consequences according to recent work, we … distress. We conclude that conditional on their liquidity status, these funds use cash as a device to provide for the ownership …
Persistent link: https://www.econbiz.de/10010984710
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Corporate cash holding in Asia
Horioka, Charles; Terada Hagiwara, Akiko - 2013
In this paper, we analyze the determinants of corporate saving in the form of changes in the stock of cash for 11 Asian economies using firm-level data from the Oriana Database for the 2002–2011 period. We find some evidence that cash flow has a positive impact on the change in the stock of...
Persistent link: https://www.econbiz.de/10010241527
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State Ownership and Corporate Cash Holdings
Chen, Ruiyuan (Ryan) - 2017
costs of state ownership and new insight into the corporate governance role of country-level institutions. Consistent with … agency theory, we find strong and robust evidence that state ownership is positively related to corporate cash holdings …. Moreover, we find that the strength of country-level institutions affects the relation between state ownership and the value of …
Persistent link: https://www.econbiz.de/10012970406
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Do business groups affect corporate cash holdings? : evidence from a transition economy
Cai, Weixing; Zeng, Cheng; Lee, Edward; Ozkan, Neslihan - In: China journal of accounting research : CJAR 9 (2016) 1, pp. 1-24
We examine whether business groups’ influence on cash holdings depends on ownership. Group affiliation can increase … ownership and control of listed firms moderate this benefit, which is more pronounced when the financial market is less liquid …
Persistent link: https://www.econbiz.de/10011844586
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Assets expropriation via cash dividends? : free cash flow or tunneling
Chiou, Jeng-Ren; Chen, Yenn-Ru; Huang, Ting-Chiao - In: China journal of accounting research : CJAR 3 (2010), pp. 71-93
dividends and the cash holdings of firms with lower ownership control than those of firms with higher ownership control. This is …
Persistent link: https://www.econbiz.de/10011823464
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Firm size does matter : new evidence on the determinants of cash holdings
Magerakis, Efstathios; Gillas, Konstantinos Gkillas; … - In: Journal of risk and financial management : JRFM 13 (2020) 8/163, pp. 1-33
motives. Further, we confirm a significant and varying association between managerial ownership and cash holdings. The study …
Persistent link: https://www.econbiz.de/10012322361