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Blockholder Exit Threats and Corporate Cash Holdings
Sun, Lingna; Phan, Hieu V.; Simpson, Thuy - 2021
and the value of cash to shareholders. Exploiting decimalization as an exogenous shock to stock liquidity to identify the … cash holdings and a positive effect on the value of cash to shareholders. Further analysis indicates that exit threat …
Persistent link: https://www.econbiz.de/10013224496
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Controlling Shareholder Entrenchment, Investor Protection, and Firm Cash Holding : Chinese Experience
Ni, Xiaoran - 2015
This paper shows that agency problems result from controlling-minority shareholder conflicts have a nonlinear causal relation with firm cash holding, and this relation hinges critically on the strength of investor protection. Using a direct measure of controlling shareholder's entrenchment...
Persistent link: https://www.econbiz.de/10013028138
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Cash Holdings and CEO Turnover
Intintoli, Vincent - 2016
shareholders …
Persistent link: https://www.econbiz.de/10013007442
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Myth or reality? : unveiling the effectiveness of hierarchical CEO succession on firm performance and cash holdings
Sarfraz, Muddassar; He, Bin; Shah, Syed Ghulam Meran; … - In: Journal of business economics and management 22 (2021) 4, pp. 1008-1025
The objective of the study is to contemplate the effectiveness of hierarchical CEO succession and hierarchical CEO succession intensity on SOEs & Non-SOEs performance separately. Meanwhile, the impact of hierarchical CEO succession on cash holdings has also been analysed. The authenticated data...
Persistent link: https://www.econbiz.de/10013256439
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Investor Horizons and Corporate Cash Holdings
Harford, Jarrad - 2012
more cash; (2) when they have excess cash, they invest less and pay out more to shareholders; and (3) they are more likely …
Persistent link: https://www.econbiz.de/10013111117
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Firm Cash Holdings and CEO Inside Debt
Liu, Yixin - 2013
shareholders declines as CEO inside debt increases. Our evidence supports the view that inside debt tilts managerial incentives …
Persistent link: https://www.econbiz.de/10013090056
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Banking Relationships, Managerial Incentives, Board Monitoring and Corporate Cash Holdings : An Emerging Market Perspective
Yu, Hai-Chin - 2020
pronounced when firms have poorly incentivized managers. We find that firms with a larger number of banking relationships are …
Persistent link: https://www.econbiz.de/10012837473
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Managerial Ownership and Corporate Cash Holdings : Insights from an Emerging Market
Abdioglu, Nida - 2019
ownership and cash holding is found. The findings indicate that managerial ownership aligns the interests of managers with those … of shareholders. These firms with managerial ownership prefer to hold less cash. In addition, it is reported that at … higher level of managerial ownership, entrenchment effect of managers is seen. Managers practice their own interests at the …
Persistent link: https://www.econbiz.de/10012869868
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CEO Characteristics and Value of Cash Holdings
Mun, Seongjae - 2017
This study examines the effect of CEO characteristics on the value of excess cash using the listed firm data in Korea. We find that firms with business major CEO have significantly higher value of excess cash compared to the other firms, but science and engineering major have no significant...
Persistent link: https://www.econbiz.de/10012949554
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Corporate Governance and Cash Holdings : Evidence from Worldwide Board Reforms
Chen, Ruiyuan (Ryan) - 2020
Using staggered board reforms as a quasi-natural experiment and a difference-in-differences approach, this study examines the impact of corporate governance on cash holdings in 41 countries. We find that board reforms are followed by significant reductions in cash holdings. This effect is more...
Persistent link: https://www.econbiz.de/10012839468