Similar Search Results

The Use of Bank Lines of Credit in Corporate Liquidity Management : A Review of Empirical Evidence

Demiroglu, Cem - 2012

This paper reviews empirical evidence on the use of bank lines of credit as a source of corporate liquidity. Traditional explanation for lines of credit is that they provide insurance against liquidity shocks, in much the same as way hoarding cash does. However, recent empirical research...

Persistent link: https://www.econbiz.de/10013116009

Working Capital Management and Firm's Profitability : An Optimal Cash Conversion Cycle

Nobanee, Haitham - 2012

The traditional link between the cash conversion cycle and the firm's profitability is that shortening the cash conversion cycle increases firm's profitability. On the other hand shortening the cash conversion cycle could harm the firm's operations and reduces profitability. However, identifying...

Persistent link: https://www.econbiz.de/10013116801

Cash Holdings in Private Firms

Bigelli, Marco - 2011

Evidence from a wide sample of Italian private firms shows that cash holdings are significantly related with smaller size, higher risk and lower effective tax rates, therefore supporting predictions from the trade-off model. More cash is also held by firms with longer cash conversion cycles and...

Persistent link: https://www.econbiz.de/10013122309

Information Asymmetry and Corporate Liquidity Management : Evidence from Real Estate Investment Trusts

An, Heng - 2012

management using a panel data set from real estate investment trusts (REITs). Information asymmetry, as measured by analyst …

Persistent link: https://www.econbiz.de/10013097809

Aggregate Risk and the Choice between Cash and Lines of Credit

Acharya, Viral V. - 2012

times of high aggregate volatility and in such times credit lines initiations fall, their spreads widen, and maturities …-specific risks in times of high aggregate volatility …

Persistent link: https://www.econbiz.de/10013102858

The Influence of a Credit Rating Change on Corporate Cash Holdings and Their Marginal Value

Khieu, Hinh - 2012

We examine the influence of credit rating changes on corporate excess cash holdings. We find that downgraded firms increase excess cash holdings by approximately 3% of total noncash assets, compared to a matched sample of firms without a rating change. We largely observe no significant cash...

Persistent link: https://www.econbiz.de/10013108419

Financial Integration and Corporate Cash Holdings

Agca, Senay - 2012

Using a detailed measure of financial integration and firm level panel data for 46 countries, we examine the relation between financial integration and corporate cash holdings. Our evidence suggests that financial integration reduces firms' overall reliance on cash by mitigating the distortions...

Persistent link: https://www.econbiz.de/10013109020

Evidence on the Determinants of Cash Holdings By Private and Public Companies

Gogineni, Sridhar - 2012

dividends hold more cash and that cash holdings increase significantly with capital expenditures and cash flow volatility. We …

Persistent link: https://www.econbiz.de/10013109121

Financial Constraints, Real Options and Corporate Cash Holdings

Ramezani, Cyrus A. - 2013

options are more valuable when their underlying volatility is high and when the firm is not financially constrained. The … having high volatility and high financial flexibility. We then study the determinants of demand for liquidity for each group … of firms. We find that firms with valuable real options (high volatility and high financial flexibility) have …

Persistent link: https://www.econbiz.de/10013087700

Firm Cash Holdings and CEO Inside Debt

Liu, Yixin - 2013

We examine the effect of CEO pensions and deferred compensation (inside debt) on firm cash holdings and the value of cash. We document a positive relation between CEO inside debt and firm cash holdings. This positive effect is magnified by firm leverage and mitigated by the presence of financial...

Persistent link: https://www.econbiz.de/10013090056