Determinants of Corporate Cash Holdings: Firm Level Evidence From Emerging Markets

dc.contributor.author Akben Selçuk, Elif
dc.contributor.author Selçuk, Elif Akben
dc.contributor.author Altiok-Yilmaz, Ayse
dc.contributor.other Business Administration
dc.date.accessioned 2019-06-28T11:10:43Z
dc.date.available 2019-06-28T11:10:43Z
dc.date.issued 2017
dc.department Fakülteler, İşletme Fakültesi, İşletme Bölümü en_US
dc.description.abstract 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 shown to have higher levels of cash holdings. Another variable which has a positive effect on the level of cash holdings in any given period is the level of cash holdings in the previous period as shown by the positive and significant coefficient of the lagged dependent variable in the model. Liquidity and firm size have a negative and statistically significant impact on the level of corporate cash holdings. Firms with higher level of capital expenditures are also shown to hold less cash. Finally growth opportunities do not have a significant impact on the level of cash holdings for the firms in the emerging markets analyzed. © Springer International Publishing AG 2017. en_US]
dc.identifier.citationcount 4
dc.identifier.doi 10.1007/978-3-319-44591-5_28 en_US
dc.identifier.endpage 428
dc.identifier.issn 1431-1941 en_US
dc.identifier.issn 1431-1941
dc.identifier.scopus 2-s2.0-85057115883 en_US
dc.identifier.startpage 417 en_US
dc.identifier.uri https://hdl.handle.net/20.500.12469/1260
dc.identifier.uri https://doi.org/10.1007/978-3-319-44591-5_28
dc.identifier.wos WOS:000415645900030 en_US
dc.institutionauthor Akben Selçuk, Elif en_US
dc.language.iso en en_US
dc.publisher Springer en_US
dc.relation.journal Contributions to Management Science en_US
dc.relation.publicationcategory Kitap Bölümü - Uluslararası en_US
dc.rights info:eu-repo/semantics/closedAccess en_US
dc.scopus.citedbyCount 6
dc.subject Cash holding en_US
dc.subject Corporate governance en_US
dc.subject Firm size en_US
dc.subject Growth opportunity en_US
dc.subject Total asset en_US
dc.title Determinants of Corporate Cash Holdings: Firm Level Evidence From Emerging Markets en_US
dc.type Book Part en_US
dc.wos.citedbyCount 5
dspace.entity.type Publication
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