Cash Holdings and Corporate Diversification

By R. Duchin. 2010

615 citations recorded by the source corpus.

Subfields: Accounting, Economics and Econometrics

View Paper: https://www.semanticscholar.org/paper/f1dfc743dbaa05c3dc066d68f8ec652ce8dd89bf

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Citations in the corpus

Family control and corporate cash holdings: Evidence from China (2015, background): “…but recent studies have found that in emerging markets controlling families have strong incentive to pursue private benefit and expropriate minority 1 See, for example, Duchin (2010); Denis and Sibikov (2010); Bates et al. (2009); Opler et al. (1999); and Kim et al. (1998); Almeida et al. (2013).”
Aggregate Risk and the Choice between Cash and Lines of Credit (2010, neutral): “Stulz, and Williamson (1999), Almeida, Campello, and Weisbach (2004, 2009), Denis and Sibilikov (2007), and Duchin (2009) ).”
The Sensitivity of Corporate Cash Holdings to Corporate Governance (2012, background): “(1999), Bates, Kahle, and Stulz (2009), and Duchin (2010). With regard to governance-related determinants, misaligned incentives of corporate insiders and outsiders can cause corporate cash holdings to deviate from the levels that would be observed if only operational determinants were at work. We c”
US political corruption and firm financial policies (2016, background): “A partial list of recent work includes Foley, Hartzell, Titman, and Twite (2007), Duchin (2010), Lins, Servaes, and Tufano (2010), Hoberg, Phillips, and Prabhala (2014), and the other research cited later in the paper. For a review of empirical capital structure research, see Graham and Leary (2011)”
Credit Lines as Monitored Liquidity Insurance: Theory and Evidence (2012, positive): “To estimate investment opportunities, we build on Acharya, Almeida and Campello (2007) and Duchin (2010) and construct the following measures (for definitions of variables see Table A1 in the Appendix): 1.”
Climate Change and Corporate Cash Holdings: Global Evidence (2020, neutral): “A few relevant and renowned studies in this area of literature include Fazzari et al. (1988), Whited (1992), Kaplan and Zingales (1997), Almeida et al.”
Internal Capital Markets in Business Groups: Evidence from the Asian Financial Crisis (2014, positive): “Recent evidence suggests that conglomerates’ internal capital markets allow these ﬁ rms to save less cash than stand-alone ﬁ rms (Duchin, 2010).”
National Culture and Corporate Cash Holdings around the World (2015, background): “…(Almeida et al., 2004; Khurana et al., 2006; Han and Qiu, 2007; Denis and Sibilkov, 2010); (v) the tax motive (Foley et al., 2007); (vi) the diversification motive (Duchin, 2010); and (vii) the product market competitiveness motive (Haushalter et al., 2007; Fresard, 2010; Schroth and Szalay, 2010).”
Does Diversification Create Value in the Presence of External Financing Constraints? Evidence from the 2007-2009 Financial Crisis (2016, positive): “As a result, the studies that use RVA restrict their samples for any analysis based on such measure to diversified firms only (e.g. Rajan et al. (2000), Peyer and Shivdanani (2001), Duchin (2010), or Hovakimian (2010)).”
Why Has the Value of Cash Increased Over Time? (2018, positive): “We follow Duchin (2010) and estimate within-firm diversification as the correlation of cross-segment cash flows and the correlation of cross-segment investment opportunities (Q) for firms reporting multiple segments in Compustat.”
Corporate Liquidity Management: A Conceptual Framework and Survey (2014, positive): “The findings of Erel, Jang & Weisbach (2014) relate to those of Duchin (2010), who reports that conglomerate firms carry less cash in their balance sheet for hedging and constraints motives.”
Corporate social responsibility and corporate cash holdings (2016, background): “…and Partch, 2003; Pinkowitz et al., 2006; Dittmar and Mahrt-Smith, 2007; Harford et al., 2008), the financial constraint motive (Almeida et al., 2004; Han and Qiu, 2007; Denis and Sibilkov, 2010), the tax motive (Foley et al., 2007), and the diversification motive (Duchin, 2010; Tong, 2011).”
Corporate cash holdings: Causes and consequences (2015, positive): “The problem is illustrated by Duchin et al. (2015), who hand-collect individual asset holdings (shortterm investment) data from the footnotes of the annual reports of S&P 500 firms and”