Determinants of Corporate Cash Holdings: Evidence from Canada

By Amarjit Gill, Charul Shah. 2011

274 citations recorded by the source corpus.

The purpose of this study is to investigate the determinants of corporate cash holdings in Canada. This study also seeks to extend the findings of Afza and Adnan (2007). A sample of 166 Canadian firms listed on Toronto Stock Exchange for a period of 3 years (from 2008-2010) was selected. This study applied co-relational and non-experimental research design. The results show that market-to-book ratio, cash flow, net working capital, leverage, firm size, board size, and the CEO (chief executive officer) duality significantly affect the corporate cash holdings in Canada. This study contributes to the literature on the factors that determine the corporate cash holdings. The findings may be useful for the financial managers, investors, and financial management consultants.

Subfields: Accounting

View Paper: https://www.semanticscholar.org/paper/4437c9c1eba02e59bb8c8803017449c49d2af10c

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In Accounting

1. Amarjit Gill
2. N. Biger

Citations in the corpus

• The impact of corporate governance on working capital management efficiency of American manufacturing firms (2013, background): “Thus, an optimal level of cash based on the firm’s needs is the essential ingredient that enables a business to survive and prosper (Gill and Shah, 2012).”