Multinational firms and cash holdings: Evidence from China

• Main Authors: WU, Weijun, YANG, Yang, ZHOU, Sili
• Format: text
• Language: English
• Published: Institutional Knowledge at Singapore Management University 2017
• Subjects: Cash holdings; Multinationals; SOEs; China; Asian Studies; Corporate Finance; International Business
• Online Access: https://ink.library.smu.edu.sg/lkcsb_research/5319; https://ink.library.smu.edu.sg/context/lkcsb_research/article/6318/viewcontent/1_s20_S1544612316301805_main.pdf
• Institution: Singapore Management University

To adapt to globalization, Chinese multinational firms have more exploitation of cash. This paper shows that Chinese multinational corporations (MNCs) do not hold significantly more cash relative to domestic firms unless these multinationals heavily relay on the foreign sales. In addition, the multi...