Corporate Financial Policy and the Value of Cash
We examine the cross-sectional variation in the marginal value of corporate cash holdings that arises from differences in corporate financial policy. We begin by providing semi-quantitative predictions for the value of an extra dollar of cash depending upon the likely use of that dollar, and derive...
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Main Authors: | FAULKENDER, Michael, WANG, Rong |
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Format: | text |
Language: | English |
Published: |
Institutional Knowledge at Singapore Management University
2006
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Subjects: | |
Online Access: | https://ink.library.smu.edu.sg/lkcsb_research/1150 https://ink.library.smu.edu.sg/context/lkcsb_research/article/2149/viewcontent/WangRongCash72.pdf |
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Institution: | Singapore Management University |
Language: | English |
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