The DOI matches its Crossref record; 2 of the 2 references it cites were found in a registry or an index.
Scale Economies, the Value of Time, and the Demand for Money: Longitudinal Evidence from Firms
Abstract
COMPUSTAT data on 12,000 firms for the years 1961–92 indicate that large firms hold less cash as a percentage of sale than small ones. Whether comparisons are made within or across industries, the clasticity of cash balance with respect to sales is about 0.8. Firms headquartered in counties with high wages hold more money for a given level of sales, a finding consistent with the idea that time can substitute for mony in the provision of transactions services. The estimates are consistent with both scale economies in the holding of money and secular declines in velocity.
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Citations
Cites
A Model of the Demand for Money by Firms
Miller, M. H., & Orr, D. (1966) · The Quarterly Journal of Economics · doi:10.2307/1880728 · Cited by 1,340
The Demand for Money: Some Theoretical and Empirical Results
Friedman, M. (1959) · Journal of Political Economy · doi:10.1086/258194 · Cited by 579
Cited by
The determinants and implications of corporate cash holdings
Opler, T. (1999) · Journal of Financial Economics · doi:10.1016/s0304-405x(99)00003-3 · Cited by 3,914
Arellano, M. (2003) · doi:10.1093/0199245282.001.0001 · Cited by 2,108
International Corporate Governance and Corporate Cash Holdings
Dittmar, A., Mahrt-Smith, J., & Servaes, H. (2003) · The Journal of Financial and Quantitative Analysis · doi:10.2307/4126766 · Cited by 1,633
Power Laws in Economics and Finance
Gabaix, X. (2009) · Annual Review of Economics · doi:10.1146/annurev.economics.050708.142940 · Cited by 907
Cointegration Vector Estimation by Panel DOLS and Long‐run Money Demand*
Mark, N. C., & Sul, D. (2003) · Oxford Bulletin of Economics and Statistics · doi:10.1111/j.1468-0084.2003.00066.x · Cited by 786
Metadata
- Authors
- Mulligan, C. B.
- Venue
- Journal of Political Economy
- Publisher
- University of Chicago Press
- Published
- 1997-10
- Volume
- 105
- Issue
- 5
- Pages
- 1061-1079
- ISSN
- 0022-3808 (ISSN-L)
- 1537-534X
- OpenAlex
- W1986090375
- Cited by
- 313
- References
- 2
- FWCI
- 10.07
- Type
- journal article
- Language
- en
- Open access
- closed
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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.
