Share Issuance and Cash Savings

By R. D. McLean. 2011

296 citations recorded by the source corpus.

Subfields: Accounting, Finance

View Paper: https://www.semanticscholar.org/paper/6e14c32828ea8c6ccac34a990c10a748dca9b048

How researchers see this paper

The researchers whose trusted networks rank it highest, strongest advocate first. Every researcher gets a different order.

In Accounting

1. Lee Pinkowitz
2. René M. Stulz
3. Rohan Williamson
4. Julien Hugonnier
5. Erwan Morellec
6. Semyon Malamud
7. Asli Demirgüç-Kunt
8. J. Qian

In Finance

1. Rohan Williamson
2. Lee Pinkowitz
3. René M. Stulz
4. Julien Hugonnier
5. Erwan Morellec
6. Semyon Malamud
7. Gustavo Manso
8. Jarrad Harford

Citations in the corpus

• Climate Change and Corporate Cash Holdings: Global Evidence (2020, unknown): “McLean (2011) argues that public firms issue shares as a source of increasing cash when they have the precautionary motives that are reflected in their high cash flow volatility and large Research and Development (RD) expenditures.”
• Cash Holdings, Competition, and Innovation (2016, unknown): “, McLean (2011). Therefore, net equity issuances are a way to implement a cash holdings policy, not necessarily a determinant of the policy.”
• Precautionary Savings with Risky Assets: When Cash Is Not Cash (2016, unknown): “model in Kim and Weisbach (2008) and McLean (2011) and estimates panel regressions explaining the sources of corporate financial investments.”
• Determinants of Corporate Cash Policy: Insights from Private Firms (2013, unknown): “Following prior work such as Opler, Pinkowitz, Stulz, and Williamson (1999), we remove financial and utilities firms.”
• Equity Market Misvaluation, Financing, and Investment (2015, unknown): “This result echoes the descriptive findings in McLean (2011) that firms tend to hoard the proceeds from equity issuances.”
• Do U.S. firms hold more cash than foreign firms do (2016, background): “Existing evidence suggests that firms retain more cash from equity issues than from debt issuance (see McLean 2011).”
• Corporate cash holdings: Causes and consequences (2015, unknown): “For example, recent evidence by McLean (2011) shows that US public firms increasingly get their cash from new equity issues rather than from operating cash flows.”
• Excess Cash and Stock Returns (2010, unknown): “I define excess cash following Opler et al. (1999) as the residual from cross-sectional regressions of cash-to-assets ratios on variables previously determined to explain cash holdings.”
• Capital Supply Uncertainty, Cash Holdings, and Investment (2014, result): “Baumol (1952), Miller and Orr (1966), and Tobin (1968).”