Determinants of corporate cash holding: evidence from UK listed firms
Our paper revisits the determinants of company cash holding. It attempts to explain the cash holding behavior of firms’ managers by investigating non-financial companies listed on the London Stock Exchange from 2011 to 2016. Our results indicate that firm size, leverage, cash flow, cash flow volatil...
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| Published in | Business and economic horizons Vol. 14; no. 3; pp. 561 - 569 |
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| Main Authors | , , |
| Format | Journal Article |
| Language | English |
| Published |
Prague
Prague Development Center
01.01.2018
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| Subjects | |
| Online Access | Get full text |
| ISSN | 1804-5006 1804-1205 1804-5006 |
| DOI | 10.15208/beh.2018.40 |
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| Abstract | Our paper revisits the determinants of company cash holding. It attempts to explain the cash holding behavior of firms’ managers by investigating non-financial companies listed on the London Stock Exchange from 2011 to 2016. Our results indicate that firm size, leverage, cash flow, cash flow volatility, and investment opportunity exert influence on such cash holding behavior. It can be explained by the trade-off theory, the pecking-order theory and free cash flow theory. Our results may shed light on the decrease in the cash holding level for the post-crisis period. |
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| AbstractList | Our paper revisits the determinants of company cash holding. It attempts to explain the cash holding behavior of firms’ managers by investigating non-financial companies listed on the London Stock Exchange from 2011 to 2016. Our results indicate that firm size, leverage, cash flow, cash flow volatility, and investment opportunity exert influence on such cash holding behavior. It can be explained by the trade-off theory, the pecking-order theory and free cash flow theory. Our results may shed light on the decrease in the cash holding level for the post-crisis period. |
| Author | Tran, Phi Long Le, Duac Hoang Ta, Thu Phuong |
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| ContentType | Journal Article |
| Copyright | 2018. This work is published under https://creativecommons.org/licenses/by/4.0 (the “License”). Notwithstanding the ProQuest Terms and Conditions, you may use this content in accordance with the terms of the License. |
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| DOI | 10.15208/beh.2018.40 |
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| Snippet | Our paper revisits the determinants of company cash holding. It attempts to explain the cash holding behavior of firms’ managers by investigating non-financial... Our paper revisits the determinants of company cash holding. It attempts to explain the cash holding behavior of firms' managers by investigating non-financial... |
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| Title | Determinants of corporate cash holding: evidence from UK listed firms |
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