Creditor Rights, Country Governance, and Corporate Cash Holdings

Bruce Seifert · Halit Gonenc B

46 citations0/0 files storedJournal of International Financial Management and Accounting

No readable copy stored yet — this record is metadata only.

No open-access location is known for this record yet.

Literature note Cite in a project Citation map

Corporate Finance and Governance Global Financial Crisis and Policies Working Capital and Financial Performance

Abstract

Abstract This study examines the impact of creditor rights and country governance on cash holdings using a sample of firms from 47 countries. We hypothesize that cash holdings are smaller when both creditor rights and country governance are high. In these circumstances firms will not need to hold as much cash for future investments needs (precautionary funds) because firms will expect that funds will be available in the future. Our findings support our hypothesis and hold for alternative definitions for cash holdings, different country samples, different definitions of governance and concerns about endogeneity.

Paper brief

Loading…

Cite this work

Citation unavailable for this work.

BibTeX RIS CSL-JSON

No public copy is stored for this record, so only the metadata is cited.

Citations in this library

Citation map →

Stored only when both papers are in the corpus — 46 citations exist upstream.

References

1997Legal Determinants of External Finance 1996Financial Dependence and Growth 1999The determinants and implications of corporate cash holdings 2008The law and economics of self-dealing 2008The Economic Consequences of Legal Origins 2009Why Do U.S. Firms Hold So Much More Cash than They Used To?2007Private credit in 129 countries☆2006Corporate governance and the value of cash holdings

Cited by

2021The influence of country governance on the capital structure and investment financing decisions of firms: An international investigation 2016The relationship between judicial efficiency and corporate cash holdings: An international study 2024Cash is queen? Impact of gender-diverse boards on firms' cash holdings during COVID-19 2020Chief Executive Officers’ monitoring, board effectiveness, managerial ownership, and cash holdings: evidence from ASEAN 2021The role of shareholders and creditors' rights in affecting cash holdings and firm value: A recent evidence from ASEAN

Explore the map →

Papers that cite the same references — the relational fallback while embeddings are still backfilling.

Imported from OpenAlex (CC0) — nothing here is generated.