Cash holdings and firm performance: A perspective on non-linear relationships and the impact of the COVID-19 pandemic
Authors
DOI: https://doi.org/10.57110/vnu-jeb.v4i5.295Keywords:
Cash holding, non-linear relationship, firm performance, moderating impactReferences
Alnori, F. (2020). Cash holdings: Do they boost or hurt firms’ performance? Evidence from listed non-financial firms in Saudi Arabia. International Journal of Islamic and Middle Eastern Finance and Management, 13(5), 919-934. https://doi.org/10.1108/IMEFM-08-2019-0338
Azeez, A. A. (2015). Corporate governance and firm performance: Evidence from Sri Lanka. Journal of Finance and Bank Management, 3, 180-189. http://doi.org/10.15640/jfbm.v3n1a16
Anton, S. G., & Nucu, A. E. A. (2019). Firm value and corporate cash holdings. Empirical evidence from the Polish listed firms. E+M Ekonomie a Management, 22(3), 121-134. https://doi.org/10.15240/tul/001/2019-3-008
Bates, T. W., Kahle, K. M., & Stulz, R. M. (2009). Why do U.S. firms hold so much more cash than they used to? The Journal of Finance, 64(5), 1985-2021. https://doi.org/10.1111/j.1540-6261.2009.01492.x
Dittmar, A., Mahrt-Smith, J., & Servaes, H. (2003). International corporate governance and corporate cash holdings. Journal of Financial and Quantitative Analysis, 38(1), 111-133. https://doi.org/10.2307/4126766
General Statistic Office of Vietnam. (2021). The recent business situation and development solutions for the upcoming period. https://www.gso.gov.vn/du-lieu-va-so-lieu-thong-ke/2023/10/tinh-hinh-doanh-nghiep-nhung-nam-gan-day-va-giai-phap-phat-trien-trong-giai-doan-toi/
Habib, A., Bhatti, M. I., Khan, M. A., & Azam, Z. (2021). Cash holding and firm value in the presence of managerial optimism. Journal of Risk and Financial Management, 14(8), 356. https://doi.org/10.3390/jrfm14080356
Harford, J. (1999). Corporate cash reserves and acquisitions. The Journal of Finance, 54(6), 1969-1997. https://doi.org/10.1111/0022-1082.00179
Jensen, M. C. (1986). Agency costs of free cash flow, corporate finance, and takeovers. American Economic Review, 76(2), 323-329. https://www.jstor.org/stable/1818789
Martínez-Sola, C., García-Teruel, P. J., & Martínez-Solano, P. (2013). Corporate cash holding and firm value. Applied Economics, 45(2), 161-170. https://doi.org/10.1080/00036846.2011.595696
McConnell, J. J., & Servaes, H. (1990). Additional evidence on equity ownership and corporate value. Journal of Financial economics, 27(2), 595-612. https://doi.org/10.1016/0304-405X(90)90069-C
Mendelson, H. (2000). Organizational architecture and success in the information technology industry. Management Science, 46(4), 513-529. https://doi.org/10.1287/mnsc.46.4.513.12060
Mikkelson, W. H., & Partch, M. M. (2003). Do persistent large cash reserves hinder performance? Journal of Financial and Quantitative Analysis, 38(2), 275-294. https://doi.org/10.2307/4126751
Morck, R., Shleifer, A., & Vishny, R. W. (1988). Management ownership and market valuation: An empirical analysis. Journal of Financial Economics, 20, 293-315. https://doi.org/10.1016/0304-405X(88)90048-7
Opler, T., Pinkowitz, L., Stulz, R., & Williamson, R. (1999). The determinants and implications of corporate cash holdings. Journal of Financial Economics, 52(1), 3-46. https://doi.org/10.1016/S0304-405X(99)00003-3
Phillips, P. A., & Sipahioglu, M. A. (2004). Performance implications of capital structure: evidence from quoted UK organisations with hotel interests. The Service Industries Journal, 24(5), 31-51. https://doi.org/10.1080/0264206042000276829
Pinkowitz, L., & Williamson, R. (2001). Bank power and cash holdings: Evidence from Japan. The Review of Financial Studies, 14(4), 1059-1082. https://doi.org/10.1093/rfs/14.4.1059
Downloads
Downloads
Published
Abstract View
PDF Downloaded
How to Cite
Issue
Section
License
Copyright (c) 2024 Trần Mạnh Hà
This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.
by VNU Journal of Economics and Business
Most read articles by the same author(s)
- Tran Manh Ha, Impacts of global value chain participation on current account imbalance: Evidence of ASEAN countries , VNU JOURNAL OF ECONOMICS AND BUSINESS: Vol. 4 No. 1