Essays about: "excess cash holdings"

Found 5 essays containing the words excess cash holdings.

  1. 1. Excess Cash holdings and Acquisitions: A study on Nordic firms

    University essay from Göteborgs universitet/Graduate School

    Author : Hannes Sandström; Lingjun Zhang; [2020-07-08]
    Keywords : Cash holdings; Excess cash; Mergers and acquisitions; Corporate governance; Agency conflicts; Free cash flow theories; Information asymmetries; Cash holding motives;

    Abstract : By adapting a well-recognized model for estimating normal cash holdings, this study examines if Nordic public firms with excess cash have a higher likelihood of performing acquisitions. Given that firms have access to capital markets, firms should be able to fund positive net present value projects regardless of current cash levels. READ MORE

  3. 2. An Empirical Study of the Impact of Excess Cash Holdings on Enterprise Value for Nordic and Chinese Listed Companies

    University essay from Lunds universitet/Nationalekonomiska institutionen

    Author : Xiaochen Gu; Baizhanysh Baizrakhmanov; [2016]
    Keywords : excess cash holdings; enterprise value; NASDAQ OMX Nordic; Chinese A-share market; Business and Economics;

    Abstract : Cash holding strategy is an important financial decision for firms. It is highly related to firms’ operation and development because cash is an important guarantee to meet the business payment and investment opportunity. READ MORE

  4. 3. The Impact of Agency Costs on Corporate Cash Holdings. A Study of German Public and Private Tech Companies

    University essay from Lunds universitet/Nationalekonomiska institutionen

    Author : Simon Neufert; [2016]
    Keywords : Keywords: agency costs; cash holdings; excess cash; Germany; technology industry; bank power; TecDax; Business and Economics;

    Abstract : Purpose: The main objective of this thesis is to examine the effect different drivers of agency costs have on corporate cash holdings in public and private German technology firms. The analysis identifies three potential sources of agency costs. READ MORE

  5. 4. The Effect of Excess Cash on M&A - Evidence from Europe

    University essay from Handelshögskolan i Stockholm/Institutionen för finansiell ekonomi

    Author : Lars Bechert; Nikolaus Schwarz; [2016]
    Keywords : Cash holdings; Excess cash; M A; Europe; Overinvestment;

    Abstract : This paper studies the development of corporate cash holdings and their effect on M&A in a European context. We observe a secular increase in corporate cash ratios which is in line with the U.S. trend. READ MORE

  6. 5. The optimal way to increase cash holdings: From a market perspective - a study of various ways to increase cash holdings and their implications on market value during economic boom and recession

    University essay from Lunds universitet/Företagsekonomiska institutionen

    Author : Ramin Khadem; Patrik Pettersson; [2013]
    Keywords : R D; CAPEX; Dividends; market value; excess cash; Business and Economics;

    Abstract : The main purpose of this paper is to identify a relationship between different approaches to accumulate cash and companies’ market values between periods of different economic conditions. Our thesis contributes with information that helps firm managers decide how to increase cash holdings. READ MORE