[PDF] Top 20 Family Control And The Value Of Cash Holdings

... of family firms is lower at high ownership ...indicating family ownership is harmful for minority shareholders when control is highly ...that family firms exhibit lower performance than ... See full document

... use cash to pursue personal ...the value of excess cash and on the marginal value of total cash ...ket value of excess cash is found to be approximately one-half of the ... See full document

... asset holdings might cause more severe agency ...of cash holdings were more active to engage in merger and acquisition than enterprises with less cash holdings, they would also cause ... See full document

... structure, cash holdings and firm value for a sample of publicly traded Brazilian firms, through panel data regressions, employing the fixed-effects ...and cash holdings (cash to ... See full document

... squander cash flow and help to improve the efficiency of the use of funds, as well as to improve business per- formance and increase corporate ...marginal value of the company’s cash ...and ... See full document

... of cash holdings considered under the two models are the same except that fixed effect model omitted board size (BSIZE) due to invariant nature of the variable ...R-squared value of ...the ... See full document

... corporate cash holdings in emerging markets promote economic ...dissipate cash may be especially strong during financial crises in the emerging markets because of increased market uncertainty can ... See full document

... is cash holdings. Cash holdings is cash and cash equivalents by net assets (total assets minus cash and cash ...variable. Cash-flow is the ratio of ... See full document

... including the directors, employees, stockholders and other legal personalities. The corporate governance is also influenced by these elements. This system determines laws and regulations for the decision making processes ... See full document

... (cash holdings), our key variable (LSI), and a set of control ...19992012. Cash holdings are the ratio of cash and short-term investments (che) to total assets ...1. Cash ... See full document

... holding cash— the transaction motive, the precautionary motive and the speculative ...more cash during economic downturns, the costs of being more cash dependent ...replace cash substitutes ... See full document

... attempt. Cash (Stock) Only is a dummy variable indicating one hundred percent cash (stock) ...Deal value is the dollar value of consideration paid by the acquirer excluding fees and expenses, ... See full document

... the value of cash holdings may be smaller in the OTC ...the value of cash holdings is weaker in the OTC market that is dominated by individual ... See full document

... Median value of the variable investment equals 0330/0, which alongside the fact that it is not even close to the mean and regarding the skewness and elongation, it shows that the distribution for this variable is ... See full document

... of cash cycle and collateral value of ...of cash in countries having difficulty in accessing capital markets with low shareholder ...on cash holdings of Canadian firms during 2008-2010 ... See full document

... liquidity holdings for a firm’s operations is that they help ensure optimal timing of investments and avoid the under pricing ...of cash held within firms with fewer investment opportunities can reduce firm ... See full document

... more cash than their manufacturing matches in almost every year of our sample period, their average cash holdings being almost three times ...target cash regressions, we find that these ... See full document

... of cash. Bates et al. (2009) showed that the average cash ratio, cash and marketable securities over total assets, of ...in cash holdings has become steeper in recent years. Cash ... See full document

... of family ownership--- ownership percentage, control and management---- on group affiliates and standalone firms’ ...[market value of equity + book value of preferred stock + book value ... See full document

... debt, cash holding generates costs and benefits, and it is very important to finance a firm to keep ...of cash holding by balancing the marginal costs of holding liquid assets and marginal benefits of ... See full document