CEO managerial ability and the marginal value of cash
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DOI: 10.1016/j.adiac.2017.07.007
Abstract: This study examines whether the managerial ability of a chief executive officer (CEO) is associated with a marginal value of cash. We predict that more talented CEOs make better use of cash, creating the marginal… read more here.
Keywords: cash; marginal value; value; managerial ability ... See more keywords
How investors value cash and cash flows when managers commit to providing earnings forecasts
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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
CEO overconfidence and the value of corporate cash holdings
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DOI: 10.1016/j.jcorpfin.2018.11.006
Abstract: Cash holding is on average more valuable when firms are managed by overconfident CEOs. Economically, having an overconfident CEO on board is associated with an increase of $0.28 in the value of $1.00 cash holding.… read more here.
Keywords: cash; value; ceo overconfidence; value cash ... See more keywords
Corporate Financial Policy and the Value of Cash under Uncertainty
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DOI: 10.1108/ijmf-12-2015-0210
Abstract: In this paper we provide evidence on how firm-specific and macroeconomic uncertainty affects shareholders' valuation of a firm's cash holdings. This extends previous work on this issue by highlighting the importance of the source of… read more here.
Keywords: uncertainty; cash; value cash; financial policy ... See more keywords
Audit committee members with CEO experience and the value of cash holdings
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DOI: 10.1108/maj-04-2019-2269
Abstract: The purpose of this study is to examine whether the presence of an audit committee (AC) members with Chief Executive Officer (CEO) experience (supervisory experts) affects the market value of cash holdings.,To estimate the marginal… read more here.
Keywords: committee members; audit committee; value; cash holdings ... See more keywords
Geographical proximity and value of corporate cash holdings
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DOI: 10.1108/mf-09-2019-0470
Abstract: In this paper, the authors examine the association between a firm's geographical location and the value of its cash holdings.,Following Loughran and Schultz (2005) and Nielsson and Wojcik (2016), the authors define firms as either… read more here.
Keywords: cash; geographical proximity; marginal value; value ... See more keywords