Essays about: "Precautionary Motive"

Found 4 essays containing the words Precautionary Motive.

1. 1. Cash Holdings, Secured Debt and Collateral

   University essay from Lunds universitet/Företagsekonomiska institutionen

   Author : Anton Wihlborg; Philip Dahl; [2023]
   Keywords : Corporate Cash Holdings; Secured Debt; Unencumbered Tangibility; Precautionary Motive; Financial Constraints; Business and Economics;

   Abstract : The purpose of this study is to empirically investigate the relationship between unencumbered tangibility and cash holdings, and to evaluate if corporations consider them to be substitutable variables of corporate liquidity. The study relies on a panel data set and then employs a firm fixed effect regression model to estimate the strength and direction of the relationship of interest. READ MORE

3. 2. Cash Holdings from a Risk Management Perspective - A study on high investment firms

   University essay from Lunds universitet/Företagsekonomiska institutionen

   Author : Fanny Andrea Bjørndalen; Johanna Nilsson; [2015]
   Keywords : Cash Management; Cash Holdings; Hedging; Risk Management; Underinvestment problems; Investment opportunities; Business and Economics;

   Abstract : Due to a globalized market place, risk management has grown in importance and become a central part of firms’ corporate strategies. The incentives for engaging in risk reducing activities revolve around reduced agency costs and exploitation of financial advantages. READ MORE

4. 3. Is cash still king? – A study of the firm characteristics that determine the cash holding levels of Swedish corporations and the impact of the 2008 financial crisis on corporate cash policies

   University essay from Lunds universitet/Företagsekonomiska institutionen

   Author : Robert Kinnunen; [2015]
   Keywords : Cash holdings; free cash flow theory; GMM estimation; dynamic panel regressions; pecking order hypothesis; Business and Economics;

   Abstract : The purpose of the thesis is to identify the key determinants of corporate liquidity in Swedish firms and whether these have changed in the wake of the 2008 financial crisis. For these means, data obtained from companies listed on the Swedish NASDAQ OMX Stockholm stock exchange are used to estimate a number of dynamic panel regression models in E-Views. READ MORE

5. 4. Can manager conservatism explain corporate cash holdings? Evidence from the Eurozone

   University essay from Handelshögskolan i Stockholm/Institutionen för finansiell ekonomi

   Author : Moritz Zimmermann; Kornelius Pfaff; [2013]
   Keywords : Cash holdings; Precautionary savings motive; Behavioural finance; Manager fixed effects; Executive compensation;

   Abstract : Differences in cash holdings across firms have traditionally been explained by precautionary savings motives. However, in line with a recent U.S. study, we identify a group of European industrial companies with a particularly high ratio of cash to assets, which cannot be explained by precautionary savings, agency or tax motives. READ MORE