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Net operating working capital and firm value: A cross-country analysis
16 references·9 citing·36 second hop
Net operating working capital and firm value: A cross-country analysis (2019)Net operating working capital and firm va…Why Do U.S. Firms Hold So Much More Cash than They Used To? (2009)Why Do U.S. Firms Hold So Muc…The law and economics of self-dealing (2008)The law and economics of self…Estimating Standard Errors in Finance Panel Data Sets: Comparing Approaches (2008)Estimating Standard Errors in…Does the Contribution of Corporate Cash Holdings and Dividends to Firm Value Depend on Governance? A Cross‐country Analysis (2006)Does the Contribution of Corp…Corporate governance and the value of cash holdings (2006)Corporate governance and the …International Corporate Governance and Corporate Cash Holdings (2003)International Corporate Gover…Does Working Capital Management Affect Profitability of Belgian Firms? (2003)Does Working Capital Manageme…Investor Protection and Corporate Valuation (2002)Investor Protection and Corpo…Investor protection and corporate governance (2000)Investor protection and corpo…The determinants and implications of corporate cash holdings (1999)The determinants and implicat…Taxes, Financing Decisions, and Firm Value (1998)Taxes, Financing Decisions, a…Law and Finance (1998)Law and FinanceTrade Credit: Theories and Evidence (1997)Trade Credit: Theories and Ev…Legal Determinants of External Finance (1997)Legal Determinants of Externa…Agency Costs of Free Cash Flow, Corporate Finance, and Takeovers (1986)Agency Costs of Free Cash Flo…Risk, Return, and Equilibrium: Empirical Tests (1973)Risk, Return, and Equilibrium…Working capital management and board diversity towards firm performances in Indonesia's LQ45 (2022)Working capital management an…On the role of institutional factors in shaping working capital management policies: Empirical evidence from European listed firms (2022)On the role of institutional …Working Capital Management and Its Impact on Firms’ Performance: An Empirical Analysis on Ethiopian Exporters (2021)Working Capital Management an…Working capital management and business performance: evidence from Latin American companies (2021)Working capital management an…The liquidity risk–financial performance nexus: Evidence from hybrid financial institutions (2021)The liquidity risk–financial …Economic Sustainability of Pig Slaughtering Firms in the Production Chain of Denomination of Origin Hams in Italy (2021)Economic Sustainability of Pi…Working capital and financial performance in MENA region (2020)Working capital and financial…Packages or systems? Working capital management and financial performance among listed U.S. manufacturing firms (2020)Packages or systems? Working …The Effect of Cash Conversion Cycle on Profitability in Omani Companies (2019)The Effect of Cash Conversion…What Do We Know about Capital Structure? Some Evidence from International Data (1995)A Survey of Corporate Governance (1997)Corporate Ownership Around the World (1999)CAPITAL ASSET PRICES: A THEORY OF MARKET EQUILIBRIUM UNDER CONDITIONS OF RISK* (1964)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)The Cross-Section of Expected Stock Returns (1992)Common risk factors in the returns on stocks and bonds (1993)On Persistence in Mutual Fund Performance (1997)The Problem of Social Cost (1960)Theory of the firm: Managerial behavior, agency costs and ownership structure (1976)Earnings management and investor protection: an international comparison (2003)Law, finance, and economic growth in China (2005)Agency costs of free cash flow, corporate finance, and takeovers (1996)Corporate Governance and Equity Prices (2003)Costly external finance, corporate investment, and the subprime mortgage credit crisis (2010)Product Market Threats, Payouts, and Financial Flexibility (2012)Feverish Stock Price Reactions to COVID-19* (2020)The Cost of Capital, Corporation Finance and the Theory of Investment (1958)The Colonial Origins of Comparative Development: An Empirical Investigation (2001)Corporate financing and investment decisions when firms have information that investors do not have (1984)The theory and practice of corporate finance: evidence from the field (2001)The Cash Flow Sensitivity of Cash (2004)New Evidence on Measuring Financial Constraints: Moving Beyond the KZ Index (2010)Specification Tests in Econometrics (1978)Econometric Analysis of Cross Section and Panel Data (2001)Robust Standard Errors for Panel Regressions with Cross-Sectional Dependence (2007)Robust Inference With Multiway Clustering (2011)Policy Uncertainty and Corporate Investment (2015)The Modern Industrial Revolution, Exit, and the Failure of Internal Control Systems (1993)Do Investment-Cash Flow Sensitivities Provide Useful Measures of Financing Constraints? (1997)Disentangling the Incentive and Entrenchment Effects of Large Shareholdings (2002)The ultimate ownership of Western European corporations (2002)The Economic Consequences of Legal Origins (2008)Women on Boards and Firm Financial Performance: A Meta-Analysis (2014)Do institutional investors drive corporate social responsibility? International evidence (2018)
this work references cited by second hop

References

  • 1998Law and Finance17,902 cited
  • 1986Agency Costs of Free Cash Flow, Corporate Finance, and Takeovers17,216 cited
  • 1973Risk, Return, and Equilibrium: Empirical Tests14,248 cited
  • 2008Estimating Standard Errors in Finance Panel Data Sets: Comparing Approaches10,793 cited
  • 1997Legal Determinants of External Finance9,776 cited
  • 2000Investor protection and corporate governance6,847 cited
  • 2002Investor Protection and Corporate Valuation4,055 cited
  • 1999The determinants and implications of corporate cash holdings3,910 cited
  • 2008The law and economics of self-dealing3,514 cited
  • 2009Why Do U.S. Firms Hold So Much More Cash than They Used To?2,896 cited
  • 1997Trade Credit: Theories and Evidence2,600 cited
  • 2006Corporate governance and the value of cash holdings2,135 cited
  • 2003Does Working Capital Management Affect Profitability of Belgian Firms?1,844 cited
  • 2003International Corporate Governance and Corporate Cash Holdings1,636 cited
  • 2006Does the Contribution of Corporate Cash Holdings and Dividends to Firm Value Depend on Governance? A Cross‐country Analysis1,198 cited

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Taxes, Financing Decisions, and Firm Value
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  • 2020Working capital and financial performance in MENA region38 cited
  • 2020Packages or systems? Working capital management and financial performance among listed U.S. manufacturing firms34 cited
  • 2022Working capital management and board diversity towards firm performances in Indonesia's LQ4530 cited
  • 2021The liquidity risk–financial performance nexus: Evidence from hybrid financial institutions25 cited
  • 2021Working capital management and business performance: evidence from Latin American companies22 cited
  • 2022On the role of institutional factors in shaping working capital management policies: Empirical evidence from European listed firms17 cited
  • 2021Working Capital Management and Its Impact on Firms’ Performance: An Empirical Analysis on Ethiopian Exporters17 cited
  • 2021Economic Sustainability of Pig Slaughtering Firms in the Production Chain of Denomination of Origin Hams in Italy16 cited
  • 2019The Effect of Cash Conversion Cycle on Profitability in Omani Companies15 cited