The Determinants of Corporate Cash Management Policy: Evidence from around the World

• Main Authors: KUSNADI, Yuanto, Wei, K. C. John
• Format: text
• Language: English
• Published: Institutional Knowledge at Singapore Management University 2011
• Subjects: Legal protection; Financial constraints; Hedging needs; Cash management policy; Accounting; Corporate Finance
• Online Access: https://ink.library.smu.edu.sg/soa_research/1143
• Institution: Singapore Management University

We examine the determinants of corporate cash management policies across a broad sample of international firms. We document that firms in countries with strong legal protection of minority investors are more likely to decrease their cash holdings in response to an increase in cash flow than are firm...