{"id":"https://openalex.org/W2590142214","doi":"https://doi.org/10.1177/0972150916668610","title":"Determinants of Corporate Cash Holdings","display_name":"Determinants of Corporate Cash Holdings","publication_year":2017,"publication_date":"2017-02-01","ids":{"openalex":"https://openalex.org/W2590142214","doi":"https://doi.org/10.1177/0972150916668610","mag":"2590142214"},"language":"en","primary_location":{"id":"doi:10.1177/0972150916668610","doi":"https://doi.org/10.1177/0972150916668610","is_oa":false,"landing_page_url":"https://doi.org/10.1177/0972150916668610","pdf_url":null,"source":{"id":"https://openalex.org/S967494592","display_name":"Global Business Review","issn_l":"0972-1509","issn":["0972-1509","0973-0664"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-b","anvur-class-a","anvur-scientific","cwts-core","jufo-1","norway-1","poland-70","russia-white-list-1"],"host_organization":"https://openalex.org/P4310320017","host_organization_name":"SAGE Publishing","host_organization_lineage":["https://openalex.org/P4310320017"],"host_organization_lineage_names":["SAGE Publishing"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Global Business Review","raw_type":"journal-article"},"volume":null,"type":"article","indexed_in":["crossref"],"open_access":{"is_oa":false,"oa_status":"closed","oa_url":null,"any_repository_has_fulltext":false},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5071358519","display_name":"Yogesh Maheshwari","orcid":null,"observed_orcids":[]},"institutions":[{"id":"https://openalex.org/I33003672","display_name":"Indian Institute of Management Indore","ror":"https://ror.org/02j8pmw82","country_code":"IN","type":"education","lineage":["https://openalex.org/I33003672"]}],"countries":["IN"],"is_corresponding":true,"raw_author_name":"Yogesh Maheshwari","raw_affiliation_strings":["Indian Institute of Management Indore, Rau-Pithampur Road, Indore, India"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Indian Institute of Management Indore, Rau-Pithampur Road, Indore, India","institution_ids":["https://openalex.org/I33003672"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5043853055","display_name":"Kamarajugadda Tulasi Vigneswara Rao","orcid":"https://orcid.org/0000-0002-5115-6772","observed_orcids":["https://orcid.org/0000-0002-5115-6772"]},"institutions":[{"id":"https://openalex.org/I33003672","display_name":"Indian Institute of Management Indore","ror":"https://ror.org/02j8pmw82","country_code":"IN","type":"education","lineage":["https://openalex.org/I33003672"]}],"countries":["IN"],"is_corresponding":false,"raw_author_name":"K.T. Vigneswara Rao","raw_affiliation_strings":["Indian Institute of Management Indore, Rau-Pithampur Road, Indore, India"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Indian Institute of Management Indore, Rau-Pithampur Road, Indore, India","institution_ids":["https://openalex.org/I33003672"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":1,"corresponding_author_ids":["https://openalex.org/A5071358519"],"corresponding_institution_ids":["https://openalex.org/I33003672"],"apc_list":{"value":3650,"currency":"USD","value_usd":3650},"apc_paid":null,"fwci":17.7206,"has_fulltext":false,"cited_by_count":70,"citation_normalized_percentile":{"value":0.98914749,"is_in_top_1_percent":false,"is_in_top_10_percent":true},"cited_by_percentile_year":{"min":97,"max":100},"biblio":{"volume":"18","issue":"2","first_page":"416","last_page":"427"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10019","display_name":"Corporate Finance and Governance","score":0.9810000061988831,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10019","display_name":"Corporate Finance and Governance","score":0.9810000061988831,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T12544","display_name":"Working Capital and Financial Performance","score":0.013199999928474426,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T12123","display_name":"Financial Analysis and Corporate Governance","score":0.001500000013038516,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/corporate-cash-holdings","display_name":"cash holdings","score":0.9929999709129333},{"id":"https://openalex.org/keywords/determinants-of-cash","display_name":"determinants of cash","score":0.7680000066757202},{"id":"https://openalex.org/keywords/cash-flow","display_name":"cash flow","score":0.8809999823570251},{"id":"https://openalex.org/keywords/dividends","display_name":"dividends","score":0.6869999766349792},{"id":"https://openalex.org/keywords/market-to-book-ratio","display_name":"market-to-book ratio","score":0.9950000047683716},{"id":"https://openalex.org/keywords/debt-issuance","display_name":"debt issuance","score":0.8640000224113464},{"id":"https://openalex.org/keywords/stock-issuance","display_name":"share issuance","score":0.9980000257492065},{"id":"https://openalex.org/keywords/working-capital","display_name":"working capital","score":0.796999990940094},{"id":"https://openalex.org/keywords/financial-leverage","display_name":"leverage","score":0.9750000238418579},{"id":"https://openalex.org/keywords/r-d-investment","display_name":"R&D investment","score":0.9419999718666077},{"id":"https://openalex.org/keywords/capital-expenditure","display_name":"capital expenditure","score":0.9649999737739563},{"id":"https://openalex.org/keywords/corporate-financial-policy","display_name":"corporate financial policy","score":0.9359999895095825}],"concepts":[{"id":"https://openalex.org/C166819830","wikidata":"https://www.wikidata.org/wiki/Q2025903","display_name":"Operating cash flow","level":3,"score":0.6920157074928284},{"id":"https://openalex.org/C128044525","wikidata":"https://www.wikidata.org/wiki/Q1682806","display_name":"Cash flow forecasting","level":3,"score":0.6584174633026123},{"id":"https://openalex.org/C6422946","wikidata":"https://www.wikidata.org/wiki/Q857354","display_name":"Panel data","level":2,"score":0.6516164541244507},{"id":"https://openalex.org/C97366136","wikidata":"https://www.wikidata.org/wiki/Q460184","display_name":"Cash flow statement","level":3,"score":0.6498750448226929},{"id":"https://openalex.org/C76087492","wikidata":"https://www.wikidata.org/wiki/Q1047352","display_name":"Cash management","level":3,"score":0.6410890817642212},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.5769580006599426},{"id":"https://openalex.org/C163428354","wikidata":"https://www.wikidata.org/wiki/Q1047513","display_name":"Cash flow","level":2,"score":0.5446864366531372},{"id":"https://openalex.org/C149933338","wikidata":"https://www.wikidata.org/wiki/Q950816","display_name":"Capital structure","level":3,"score":0.5193370580673218},{"id":"https://openalex.org/C153083717","wikidata":"https://www.wikidata.org/wiki/Q6535263","display_name":"Leverage (statistics)","level":2,"score":0.5173770785331726},{"id":"https://openalex.org/C110000284","wikidata":"https://www.wikidata.org/wiki/Q1499557","display_name":"Cash conversion cycle","level":4,"score":0.5101912021636963},{"id":"https://openalex.org/C59399099","wikidata":"https://www.wikidata.org/wiki/Q5284040","display_name":"Dividend policy","level":3,"score":0.4821128845214844},{"id":"https://openalex.org/C207972119","wikidata":"https://www.wikidata.org/wiki/Q5048703","display_name":"Cash on cash return","level":5,"score":0.4410094618797302},{"id":"https://openalex.org/C60679458","wikidata":"https://www.wikidata.org/wiki/Q823288","display_name":"Working capital","level":2,"score":0.44042789936065674},{"id":"https://openalex.org/C116168712","wikidata":"https://www.wikidata.org/wiki/Q181201","display_name":"Dividend","level":2,"score":0.42972755432128906},{"id":"https://openalex.org/C80515813","wikidata":"https://www.wikidata.org/wiki/Q1134763","display_name":"Corporate finance","level":2,"score":0.42930975556373596},{"id":"https://openalex.org/C172497479","wikidata":"https://www.wikidata.org/wiki/Q302208","display_name":"Capital expenditure","level":2,"score":0.4234324097633362},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.4217492938041687},{"id":"https://openalex.org/C556758197","wikidata":"https://www.wikidata.org/wiki/Q580018","display_name":"Monetary economics","level":1,"score":0.4012098014354706},{"id":"https://openalex.org/C120527767","wikidata":"https://www.wikidata.org/wiki/Q3196867","display_name":"Debt","level":2,"score":0.37759873270988464},{"id":"https://openalex.org/C184454666","wikidata":"https://www.wikidata.org/wiki/Q140830","display_name":"Cash and cash equivalents","level":4,"score":0.3662757873535156},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.35973531007766724},{"id":"https://openalex.org/C149782125","wikidata":"https://www.wikidata.org/wiki/Q160039","display_name":"Econometrics","level":1,"score":0.1549285650253296},{"id":"https://openalex.org/C119857082","wikidata":"https://www.wikidata.org/wiki/Q2539","display_name":"Machine learning","level":1,"score":0.0},{"id":"https://openalex.org/C41008148","wikidata":"https://www.wikidata.org/wiki/Q21198","display_name":"Computer science","level":0,"score":0.0}],"mesh":[],"locations_count":2,"locations":[{"id":"doi:10.1177/0972150916668610","doi":"https://doi.org/10.1177/0972150916668610","is_oa":false,"landing_page_url":"https://doi.org/10.1177/0972150916668610","pdf_url":null,"source":{"id":"https://openalex.org/S967494592","display_name":"Global Business Review","issn_l":"0972-1509","issn":["0972-1509","0973-0664"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-b","anvur-class-a","anvur-scientific","cwts-core","jufo-1","norway-1","poland-70","russia-white-list-1"],"host_organization":"https://openalex.org/P4310320017","host_organization_name":"SAGE Publishing","host_organization_lineage":["https://openalex.org/P4310320017"],"host_organization_lineage_names":["SAGE Publishing"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Global Business Review","raw_type":"journal-article"},{"id":"pmh:oai:RePEc:sae:globus:v:18:y:2017:i:2:p:416-427","doi":null,"is_oa":false,"landing_page_url":"https://journals.sagepub.com/doi/10.1177/0972150916668610","pdf_url":null,"source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"article"}],"best_oa_location":null,"sustainable_development_goals":[{"id":"https://metadata.un.org/sdg/8","display_name":"Decent work and economic growth","score":0.48510000109672546}],"sustainable_development_goals_aurora":[],"study_designs":[],"awards":[],"funders":[],"has_content":{"pdf":false,"grobid_xml":false},"content_urls":null,"referenced_works_count":30,"referenced_works":["https://openalex.org/W1495656322","https://openalex.org/W1966917639","https://openalex.org/W1990061071","https://openalex.org/W2000578291","https://openalex.org/W2010075759","https://openalex.org/W2011414866","https://openalex.org/W2016405775","https://openalex.org/W2021324354","https://openalex.org/W2027996361","https://openalex.org/W2039248778","https://openalex.org/W2065316645","https://openalex.org/W2067402622","https://openalex.org/W2081793210","https://openalex.org/W2087295814","https://openalex.org/W2093956953","https://openalex.org/W2101247287","https://openalex.org/W2104134967","https://openalex.org/W2112352537","https://openalex.org/W2125652664","https://openalex.org/W2126924836","https://openalex.org/W2140037540","https://openalex.org/W2184743580","https://openalex.org/W3121131820","https://openalex.org/W3121720731","https://openalex.org/W3122956016","https://openalex.org/W3123030201","https://openalex.org/W3123722965","https://openalex.org/W3124114405","https://openalex.org/W3125353045","https://openalex.org/W4299678552"],"related_works":["https://openalex.org/W4320582663","https://openalex.org/W7097466632","https://openalex.org/W7009694984","https://openalex.org/W2095650144","https://openalex.org/W2357394163","https://openalex.org/W7155379426","https://openalex.org/W4312905442","https://openalex.org/W2935429180","https://openalex.org/W6949991431","https://openalex.org/W2461122714"],"abstract_inverted_index":{"This":[0,36],"article":[1,137],"aims":[2],"at":[3],"examining":[4],"the":[5,21,30,44,55,60,70,77,102,110,134,151,157],"financial":[6,72],"determinants":[7,61],"of":[8,32,54,59,62,76,101,113,133],"corporate":[9,63,71],"cash":[10,64,85,88,111,172],"holdings.":[11],"The":[12,74,136],"study":[13,37,78],"employs":[14],"panel":[15,33],"data":[16,34],"regression":[17],"method.":[18],"It":[19,105],"uses":[20],"fixed-effects":[22],"method":[23],"based":[24],"on":[25],"Hausman":[26],"test":[27],"results":[28,75],"for":[29,43],"estimation":[31],"model.":[35],"has":[38],"implications":[39],"that":[40,109,159],"are":[41,116],"beneficial":[42],"business":[45],"managers":[46,144],"to":[47,145,148,153],"have":[48],"a":[49,80,165],"better":[50],"understanding":[51],"and":[52,57,68,87,97,125],"appreciation":[53],"role":[56],"importance":[58],"holdings":[65,86,112],"in":[66],"formulating":[67],"evaluating":[69],"policies.":[73],"indicate":[79],"strong":[81],"positive":[82],"relationship":[83],"between":[84],"flow,":[89],"dividend":[90],"payment,":[91],"market-to-book":[92],"ratio,":[93],"net":[94,98,120],"debt":[95],"issuance":[96,100],"equity":[99],"sample":[103],"firms.":[104],"is":[106],"also":[107],"found":[108],"these":[114],"firms":[115,152,168],"negatively":[117],"affected":[118],"by":[119],"working":[121,176],"capital,":[122],"leverage,":[123],"research":[124],"development":[126],"expenditure":[127,132],"as":[128,130,141,143,147,164],"well":[129,142],"capital":[131,177],"firm.":[135],"will":[138],"help":[139],"researchers":[140],"understand":[146],"what":[149],"motivates":[150],"hold":[154,170],"cash,":[155],"given":[156],"fact":[158],"despite":[160],"being":[161],"often":[162],"termed":[163],"non-earning":[166],"asset,":[167],"generally":[169],"more":[171],"than":[173],"their":[174],"normal":[175],"requirement.":[178]},"counts_by_year":[{"year":2025,"cited_by_count":5},{"year":2024,"cited_by_count":6},{"year":2023,"cited_by_count":14},{"year":2022,"cited_by_count":16},{"year":2021,"cited_by_count":9},{"year":2020,"cited_by_count":11},{"year":2019,"cited_by_count":5},{"year":2018,"cited_by_count":4}],"updated_date":"2026-10-16T09:59:22.235173","created_date":"2017-03-03T00:00:00"}