Determinants of Corporate Cash Policy: Insights from Private Firms

By Huasheng Gao, Jarrad Harford, Kai Li. 2013

594 citations recorded by the source corpus.

View Paper: https://www.semanticscholar.org/paper/d4fe9a3ad58a8a3df3ee35ebba5c99fe0d4af506

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Citations in the corpus

US political corruption and firm financial policies (2016, background): “Cash has been found to vary systematically by size and industry, and matching absorbs some of this variation (Gao, Harford, and Li, 2013).”
A Comparison of CEO Pay-Performance Sensitivity in Privately-Held and Public Firms (2015, methodology): “4 Finally, in using privately-held firms, we join a recent surge of papers using data on these private firms to draw new insights into public firm behavior (see, for example, Michaely and Roberts (2012), Cronqvist and Fahlenbrach (2013), and Gao, Harford, and Li (2013, 2015)).”
Organization Capital and Mergers and Acquisitions (2017, unknown): “27The data on private firms in Capital IQ are based on mandatory disclosure requirements of the U.S. Securities and Exchange Commission (SEC) for private firms with more than 500 shareholders and more than $10 million in total assets (Gao, Harford, and Li (2013), (2017)).”
Financial Dependence and Innovation: The Case of Public Versus Private Firms (2017, unknown): “On the other hand, the agency conflicts resulting from divergent interests between managers and investors at public firms distort their cash holdings (Gao et al. (2013)), investments (Asker et al. (2011)).”
Corporate Governance and Pollution Externalities of Public and Private Firms* (2020, unknown): “(1)An active recent literature investigates other differences between public and private firms such as their differential access to capital (Brav, 2009; Michaely and Roberts, 2012; Gao et al., 2013) and how this affects their ability to innovate (Bernstein, 2015; Acharya and Zhu, 2017) or invest in ”
Why Has the Value of Cash Increased Over Time? (2018, methodology): “…have been used to consider the dynamics of corporate liquidity.19 For example, Dittmar and Duchin (2010) employ a partial adjustment model to study the SOA of cash holdings over the corporate life cycle, and Gao, Harford, and Li (2013) compare the SOA of cash holdings for public and private firms.”
COVID-19 Pandemic and Firm-level Cash Holding—Moderating Effect of Goodwill and Goodwill Impairment (2020, background): “If the enterprise has abundant cash flow and effective working capital management, the managers will decrease the cash holding level (Gao, Harford, and Li 2013).”
Family control and corporate cash holdings: Evidence from China (2015, background): “2 See, for example, Gao et al. (2013); Harford et al. (2008); Dittmar and Smith (2007); Kalcheva and Lins (2007); Dittmar et al. (2003); and Harford (1999).”
Climate Change and Corporate Cash Holdings: Global Evidence (2020, unknown): “However, several studies find that corporate insiders have more incentives to hold cash rather than paying dividends to the shareholders since they can use it as a flexible financing option in empire building or self-dealing (Dittmar and Mahrt-Smith, 2007; Harford et al., 2008; Gao et al., 2013).”
National Culture and Corporate Cash Holdings around the World (2015, background): “…1986; Dittmar et al., 2003; Mikkelson and Partch, 2003; Pinkowitz et al., 2006; Dittmar and Mahrt-Smith, 2007; Harford et al., 2008; Harford, 1999; Gao et al., 2013); (iv) the financial constraint motive (Almeida et al., 2004; Khurana et al., 2006; Han and Qiu, 2007; Denis and Sibilkov, 2010);…”
Stock Market Listing and the Use of Trade Credit: Evidence from Public and Private Firms (2017, methodology): “private firms documented by recent research on other corporate policies, such as capital structure (Brav, 2009) and cash holdings (Gao et al., 2013).”