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  • Determinants of corporate cash holdings: Firm level evidence from emerging markets 

    Authors:Akben Selçuk, Elif; Altiok-Yilmaz, Ayse
    Publisher and Date:(Springer, 2017)
    The objective of this chapter is to investigate the factors affecting corporate cash holdings in five emerging markets namely Brazil Indonesia Mexico Russia and Turkey. The sample consists of 1991 firms listed on the major stock exchange of their countries and covers the period between 2009 and 2015. The model is estimated by Arellano–Bond dynamic generalized method of moments. Results show that firms which use higher leverage in their capital structure hold more cash. More profitable firms are ...