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Earnings quality and corporate cash holdings
16 references·16 citing·37 second hopsampled
Earnings quality and corporate cash holdings (2011)Earnings quality and corporate cash holdi…The market pricing of accruals quality (2005)The market pricing of accrual…Earnings management and investor protection: an international comparison (2003)Earnings management and inves…Corporate Governance and Equity Prices (2003)Corporate Governance and Equi…The Quality of Accruals and Earnings: The Role of Accrual Estimation Errors (2002)The Quality of Accruals and E…The effect of international institutional factors on properties of accounting earnings (2000)The effect of international i…The determinants and implications of corporate cash holdings (1999)The determinants and implicat…Industry costs of equity (1997)Industry costs of equityAgency costs of free cash flow, corporate finance, and takeovers (1996)Agency costs of free cash flo…The Cross-Section of Expected Stock Returns (1992)The Cross-Section of Expected…Earnings Management During Import Relief Investigations (1991)Earnings Management During Im…Managerial discretion and optimal financing policies (1990)Managerial discretion and opt…Large Shareholders and Corporate Control (1986)Large Shareholders and Corpor…Agency Costs of Free Cash Flow, Corporate Finance, and Takeovers (1986)Agency Costs of Free Cash Flo…Corporate Financing and Investment Decisions When Firms Have InformationThat Investors Do Not Have (1984)Corporate Financing and Inves…Corporate financing and investment decisions when firms have information that investors do not have (1984)Corporate financing and inves…Risk, Return, and Equilibrium: Empirical Tests (1973)Risk, Return, and Equilibrium…Environmental, social, and governance ( ESG ) disclosure, earnings management and cash holdings: Evidence from a European context (2023)Environmental, social, and go…Earnings quality and financial flexibility: A moderating role of corporate governance (2022)Earnings quality and financia…Do political connections reduce earnings management? (2022)Do political connections redu…Digital transformation and corporate cash holdings in China's A-share listed companies (2022)Digital transformation and co…Do female executives and CEO tenure matter for corporate cash holdings? Insight from a Southeast Asian country (2021)Do female executives and CEO …Does internal information quality impact corporate cash holdings? Evidence from China (2020)Does internal information qua…Female CFOs and corporate cash holdings: Precautionary motive or agency motive? (2019)Female CFOs and corporate cas…Cash holding and over-investment behavior in firms with problem directors (2019)Cash holding and over-investm…Accruals quality, financial constraints, and corporate cash holdings (2019)Accruals quality, financial c…Cash holdings and earnings quality: evidence from the Main and Alternative UK markets (2018)Cash holdings and earnings qu…Social capital and corporate cash holdings (2017)Social capital and corporate …Financial statement comparability and corporate cash holdings (2017)Financial statement comparabi…A state-of-the-art review of corporate cash holding research (2017)A state-of-the-art review of …CSR Performance and the Value of Cash Holdings: International Evidence (2015)CSR Performance and the Value…Earnings Quality in Acquired and Nonacquired Family Firms (2013)Earnings Quality in Acquired …The Economic Consequences of Financial Restatements: Evidence from the Market for Corporate Control (2012)The Economic Consequences of …Corporate Forecasts of Earnings Per Share and Stock Price Behavior: Empirical Test (1976)Earnings Management through Real Activities Manipulation (2003)Performance matched discretionary accrual measures (2005)The economic implications of corporate financial reporting (2005)CAPITAL ASSET PRICES: A THEORY OF MARKET EQUILIBRIUM UNDER CONDITIONS OF RISK* (1964)Common risk factors in the returns on stocks and bonds (1993)Multifactor Explanations of Asset Pricing Anomalies (1996)Measuring Mutual Fund Performance with Characteristic‐Based Benchmarks (1997)Conditional Skewness in Asset Pricing Tests (2000)The Behavior of Stock-Market Prices (1965)THE VALUATION OF RISK ASSETS AND THE SELECTION OF RISKY INVESTMENTS IN STOCK PORTFOLIOS AND CAPITAL BUDGETS**This paper is another in a series of interrelated theoretical and statistical studies of corporate financial and investment policies being made under grants from the Rockefeller Foundation, and more recently the Ford Foundation, to the Harvard Business School. The generous support for this work is most gratefully acknowledged. The author is also much indebted to his colleagues Professors Bishop, Christenson, Kahr, Raiffa, and (especially) Schlaifer, for extensive discussion and commentary on an earlier draft of this paper; but responsibility for any errors or imperfections remains strictly his own.[Professor Sharpe's paper, “Capital Asset Prices: A Theory of Market Equilibrium Under Conditions of Risk” (Journal of Finance, September 1964) appeared after this paper was in final form and on its way to the printers. My first section, which parallels the first half of his paper (with corresponding conclusions), sets the algebraic framework for sections II, III and VI, (which have no counterpart in his paper) and for section IV on the equilibrium prices of risk assets, concerning which our results differ significantly for reasons which will be explored elsewhere. Sharpe does not take up the capital budgeting problem developed in section V below.] (1975)Mergers and the Market for Corporate Control (1965)Takeover Bids, The Free-Rider Problem, and the Theory of the Corporation (1980)A Survey of Corporate Governance (1997)Law and Finance (1998)Corporate Ownership Around the World (1999)Theory of the firm: Managerial behavior, agency costs and ownership structure (1976)Determinants of corporate borrowing (1977)The Determination of Financial Structure: The Incentive-Signalling Approach (1977)The Capital Structure Puzzle (1984)The Determinants of Capital Structure Choice (1988)Event Studies in Economics and Finance (1997)GROWTH, BETA AND AGENCY COSTS AS DETERMINANTS OF DIVIDEND PAYOUT RATIOS (1982)Two Agency-Cost Explanations of Dividends (1984)Corporate performance and managerial remuneration (1985)The Modern Industrial Revolution, Exit, and the Failure of Internal Control Systems (1993)What Do We Know about Capital Structure? Some Evidence from International Data (1995)The Valuation of Risk Assets and the Selection of Risky Investments in Stock Portfolios and Capital Budgets (1965)Returns to Buying Winners and Selling Losers: Implications for Stock Market Efficiency (1993)Illiquidity and stock returns: cross-section and time-series effects (2002)The Market for "Lemons": Quality Uncertainty and the Market Mechanism (1970)Information asymmetry, corporate disclosure, and the capital markets: A review of the empirical disclosure literature (2001)On Persistence in Mutual Fund Performance (1997)How do family ownership, control and management affect firm value? (2005)How does financial reporting quality relate to investment efficiency? (2009)The Impact of Corporate Sustainability on Organizational Processes and Performance (2014)Do Investment-Cash Flow Sensitivities Provide Useful Measures of Financing Constraints? (1997)
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References

  • 1984Corporate financing and investment decisions when firms have information that investors do not have18,936 cited
  • 1992The Cross-Section of Expected Stock Returns17,251 cited
  • 1986Agency Costs of Free Cash Flow, Corporate Finance, and Takeovers17,216 cited
  • 1973Risk, Return, and Equilibrium: Empirical Tests14,248 cited
  • 1996Agency costs of free cash flow, corporate finance, and takeovers9,308 cited
  • 1986Large Shareholders and Corporate Control8,403 cited
  • 1991Earnings Management During Import Relief Investigations8,369 cited
  • 1984Corporate Financing and Investment Decisions When Firms Have InformationThat Investors Do Not Have6,535 cited
  • 2003Corporate Governance and Equity Prices6,115 cited
  • 1997Industry costs of equity5,793 cited
  • 2003Earnings management and investor protection: an international comparison5,395 cited
  • 2002The Quality of Accruals and Earnings: The Role of Accrual Estimation Errors5,163 cited
  • 1999The determinants and implications of corporate cash holdings3,910 cited
  • 1990Managerial discretion and optimal financing policies3,679 cited
  • 2000The effect of international institutional factors on properties of accounting earnings

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3,198 cited
  • 2005The market pricing of accruals quality3,101 cited
  • Cited by

    • 2015CSR Performance and the Value of Cash Holdings: International Evidence180 cited
    • 2012The Economic Consequences of Financial Restatements: Evidence from the Market for Corporate Control113 cited
    • 2013Earnings Quality in Acquired and Nonacquired Family Firms102 cited
    • 2018Cash holdings and earnings quality: evidence from the Main and Alternative UK markets97 cited
    • 2019Female CFOs and corporate cash holdings: Precautionary motive or agency motive?88 cited
    • 2017Financial statement comparability and corporate cash holdings87 cited
    • 2017Social capital and corporate cash holdings84 cited
    • 2019Cash holding and over-investment behavior in firms with problem directors76 cited
    • 2022Digital transformation and corporate cash holdings in China's A-share listed companies74 cited
    • 2023Environmental, social, and governance ( ESG ) disclosure, earnings management and cash holdings: Evidence from a European context57 cited
    • 2022Do political connections reduce earnings management?45 cited
    • 2017A state-of-the-art review of corporate cash holding research45 cited
    • 2019Accruals quality, financial constraints, and corporate cash holdings41 cited
    • 2021Do female executives and CEO tenure matter for corporate cash holdings? Insight from a Southeast Asian country40 cited
    • 2022Earnings quality and financial flexibility: A moderating role of corporate governance38 cited
    • 2020Does internal information quality impact corporate cash holdings? Evidence from China35 cited