The DOI matches its Crossref record; 5 of the 5 references it cites were found in a registry or an index.
Corporate cash holding and firm value
Abstract
This study contrasts the effect of cash holding on firm value for a sample of US industrial firms during 2001–2007. The study tests empirically for the existence of an optimal cash level that maximizes firm value. Second, the study analyses whether or not deviations from the optimum cash level reduce firm value. The results show a concave relation between cash holding and firm value, verifying the existence of an optimum level of cash holding. Additionally consistent with the initial analysis, deviations above and below optimal cash holding decreases the firm value.
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Citations
Cites
Corporate financing and investment decisions when firms have information that investors do not have
Myers, S. C., & Majluf, N. S. (1984) · Journal of Financial Economics · doi:10.1016/0304-405x(84)90023-0 · Cited by 18,957
Determinants of corporate borrowing
Myers, S. C. (1977) · Journal of Financial Economics · doi:10.1016/0304-405x(77)90015-0 · Cited by 13,169
MYERS, S. C. (1984) · The Journal of Finance · doi:10.1111/j.1540-6261.1984.tb03646.x · Cited by 7,526
A Simple Approximation of Tobin's q
Chung, K. H., & Pruitt, S. W. (1994) · Financial Management · doi:10.2307/3665623 · Cited by 2,460
The Determinants of Corporate Liquidity: Theory and Evidence
Kim, C.-S., Mauer, D. C., & Sherman, A. E. (1998) · The Journal of Financial and Quantitative Analysis · doi:10.2307/2331099 · Cited by 1,244
Metadata
- Authors
- Martínez-Sola, C., García-Teruel, P. J., & Martínez-Solano, P.
- Venue
- Applied Economics
- Publisher
- Informa UK Limited
- Published
- 2011-09-15
- Volume
- 45
- Issue
- 2
- Pages
- 161-170
- ISSN
- 0003-6846 (ISSN-L)
- 1466-4283
- OpenAlex
- W2131484871
- Cited by
- 237
- References
- 5
- FWCI
- 22.88
- Type
- journal article
- Language
- en
- Open access
- closed
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- CoChat. (2026). Citation check: Corporate cash holding and firm value. https://app.cochat.ai/papers/10.1080/00036846.2011.595696
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- Martínez-Sola, C., García-Teruel, P. J., & Martínez-Solano, P. (2013). Corporate cash holding and firm value. Applied Economics. https://doi.org/10.1080/00036846.2011.595696
Data sources
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Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.
