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

dc.contributor.authorAkben Selçuk, Elif
dc.contributor.authorAltiok-Yilmaz, Ayse
dc.date.accessioned2019-06-28T11:10:43Z
dc.date.available2019-06-28T11:10:43Z
dc.date.issued2017
dc.departmentFakülteler, İşletme Fakültesi, İşletme Bölümüen_US
dc.description.abstractThe 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.citation4
dc.identifier.doi10.1007/978-3-319-44591-5_28en_US
dc.identifier.endpage428
dc.identifier.issn1431-1941en_US
dc.identifier.issn1431-1941
dc.identifier.scopus2-s2.0-85057115883en_US
dc.identifier.scopusqualityN/A
dc.identifier.startpage417en_US
dc.identifier.urihttps://hdl.handle.net/20.500.12469/1260
dc.identifier.urihttps://doi.org/10.1007/978-3-319-44591-5_28
dc.identifier.wosWOS:000415645900030en_US
dc.identifier.wosqualityN/A
dc.institutionauthorAkben Selçuk, Elifen_US
dc.language.isoenen_US
dc.publisherSpringeren_US
dc.relation.journalContributions to Management Scienceen_US
dc.relation.publicationcategoryKitap Bölümü - Uluslararasıen_US
dc.rightsinfo:eu-repo/semantics/closedAccessen_US
dc.subjectCash holdingen_US
dc.subjectCorporate governanceen_US
dc.subjectFirm sizeen_US
dc.subjectGrowth opportunityen_US
dc.subjectTotal asseten_US
dc.titleDeterminants of corporate cash holdings: Firm level evidence from emerging marketsen_US
dc.typeBook Parten_US
dspace.entity.typePublication

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