How firms manage their cash flows: an examination of diversification’s effect
Sign Up to like & getrecommendations! Published in 2017 at "Review of Quantitative Finance and Accounting"
DOI: 10.1007/s11156-016-0565-1
Abstract: We extend recently documented evidence that diversified firms hold significantly less cash than specialized firms to consider differences in how diversified and specialized firms adjust their cash flows to achieve their target cash balance. We… read more here.
Keywords: cash; cash flows; firms manage; finance ... See more keywords
When labor representatives join supervisory boards: empirical evidence of the relationship between the change to parity codetermination and working capital and operating cash flows
Sign Up to like & getrecommendations! Published in 2017 at "Journal of Business Economics"
DOI: 10.1007/s11573-017-0860-x
Abstract: We examine how the change to 50% labor representation on German supervisory boards is related to working capital and operating cash flows, since both are proxies for short-term financial policies. We expect the change to… read more here.
Keywords: working capital; codetermination; operating cash; cash flows ... See more keywords
Value relevance of banks' cash flows from operations
Sign Up to like & getrecommendations! Published in 2017 at "Advances in Accounting"
DOI: 10.1016/j.adiac.2017.08.002
Abstract: This study examines the value relevance of banks' cash flows from operations. While banks are required to provide statements of cash flows under Generally Accepted Accounting Principles (GAAP), banks have long argued that cash flow… read more here.
Keywords: value relevance; banks cash; cash; cash flows ... See more keywords
How investors value cash and cash flows when managers commit to providing earnings forecasts
Sign Up to like & getrecommendations! Published in 2018 at "Advances in Accounting"
DOI: 10.1016/j.adiac.2018.03.004
Abstract: Abstract Theory considers voluntary disclosure to be an important mechanism for reducing information asymmetry in the corporate setting (Bertomeu, Beyer, & Dye, 2011). Prior research on corporate cash policy suggests that investors value cash holdings… read more here.
Keywords: information; investors value; cash; cash flows ... See more keywords
Cash flows and credit cycles
Sign Up to like & getrecommendations! Published in 2018 at "Journal of Banking and Finance"
DOI: 10.1016/j.jbankfin.2017.10.013
Abstract: Aggregate productivity falls in recessions and rises in expansions. Several empirical studies suggest that the systematic behavior of lending standards, with laxer (tighter) standards applied during expansions (recessions), is responsible for reverting trends in aggregate… read more here.
Keywords: credit; cash; cash flows; cash flow ... See more keywords
Derivative cash flows and corporate investment
Sign Up to like & getrecommendations! Published in 2020 at "Journal of Banking and Finance"
DOI: 10.1016/j.jbankfin.2020.105916
Abstract: Abstract According to an influential argument, corporate hedging supports corporate investment when internal cash flows are volatile and external financing is costly (Froot, Scharfstein and Stein, 1993). Despite its vast influence, the predictions of this… read more here.
Keywords: corporate investment; derivative cash; cash flows; cash ... See more keywords
How common are credit-less recoveries? Firm-level evidence on the role of financial markets in crisis recovery
Sign Up to like & getrecommendations! Published in 2021 at "Journal of Corporate Finance"
DOI: 10.1016/j.jcorpfin.2021.102016
Abstract: Abstract We study firm recoveries from systemic sudden stops in developing countries, where firms' cash flows suffer exogenous shocks. Contrary to macro studies suggesting that output recovery precedes that of the financial sector, firm-level data… read more here.
Keywords: recovery; credit; cash; cash flows ... See more keywords
Multi-period asset-liability management with cash flows and probability constraints: A mean-field formulation approach
Sign Up to like & getrecommendations! Published in 2020 at "Journal of the Operational Research Society"
DOI: 10.1080/01605682.2019.1610207
Abstract: Abstract Using a multi-period mean-variance model, we investigate an asset-liability portfolio management problem with probability constraints, where an investor intends to control the probability of bankruptcy before the terminal time in the investment. In our… read more here.
Keywords: multi period; probability; liability; cash flows ... See more keywords
Optimising ‘cash flows’: converting corporate finance to hard currency
Sign Up to like & getrecommendations! Published in 2018 at "Journal of Cultural Economy"
DOI: 10.1080/17530350.2018.1434677
Abstract: ABSTRACT Following recent works that have underlined the increasing search for liquidity in economic exchange, this article studies how illiquid forms of money are converted into liquid forms by corporate finance actors. In the name… read more here.
Keywords: cash flows; corporate finance; optimising cash; flows converting ... See more keywords
The impact of Covid-19 pandemic on the value relevance of cash flows: evidence from banks
Sign Up to like & getrecommendations! Published in 2023 at "International Journal of Emerging Markets"
DOI: 10.1108/ijoem-06-2022-0902
Abstract: PurposeThis paper is motivated by the ongoing debate on the value relevance of cash flow statement (CFS) between bank regulators, on one hand, and accounting standard setters, on the other hand. The importance and usefulness… read more here.
Keywords: cash flows; relevance cash; value; value relevance ... See more keywords
Earnings persistence and predictability within the emerging economy of Georgia
Sign Up to like & getrecommendations! Published in 2020 at "Journal of Financial Reporting and Accounting"
DOI: 10.1108/jfra-03-2019-0043
Abstract: The purpose of this paper is to provide the first empirical assessment of the persistence and predictability of earnings within the Georgian private sector entities.,The sample comprises of all the Georgian private sector entities who,… read more here.
Keywords: cash flows; persistence predictability; private sector;