{"id":"https://openalex.org/W3127310331","doi":"https://doi.org/10.1017/s0022109021000120","title":"Do Funding Conditions Explain the Relation Between Cash Holdings and Stock Returns?","display_name":"Do Funding Conditions Explain the Relation Between Cash Holdings and Stock Returns?","publication_year":2021,"publication_date":"2021-02-09","ids":{"openalex":"https://openalex.org/W3127310331","doi":"https://doi.org/10.1017/s0022109021000120","mag":"3127310331"},"language":"en","primary_location":{"id":"doi:10.1017/s0022109021000120","doi":"https://doi.org/10.1017/s0022109021000120","is_oa":false,"landing_page_url":"https://doi.org/10.1017/s0022109021000120","pdf_url":null,"source":{"id":"https://openalex.org/S193228710","display_name":"Journal of Financial and Quantitative Analysis","issn_l":"0022-1090","issn":["0022-1090","1756-6916"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a-star","anvur-class-a","anvur-scientific","cwts-core","erih-plus","fnege-1","ft50","jufo-3","norway-2","poland-140","russia-white-list-1","vabb-shw"],"host_organization":"https://openalex.org/P4310311721","host_organization_name":"Cambridge University Press","host_organization_lineage":["https://openalex.org/P4310311721","https://openalex.org/P4310311702"],"host_organization_lineage_names":["Cambridge University Press","University of Cambridge"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Journal of Financial and Quantitative Analysis","raw_type":"journal-article"},"volume":null,"type":"article","is_traditional":true,"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/A5086662991","display_name":"Tyler K. Jensen","orcid":"https://orcid.org/0000-0002-9966-4637","observed_orcids":["https://orcid.org/0000-0002-9966-4637"]},"institutions":[{"id":"https://openalex.org/I173911158","display_name":"Iowa State University","ror":"https://ror.org/04rswrd78","country_code":"US","type":"education","lineage":["https://openalex.org/I173911158"]}],"countries":["US"],"is_corresponding":true,"raw_author_name":"Tyler K. Jensen","raw_affiliation_strings":["Iowa State University Ivy College of Business"],"raw_orcid":"https://orcid.org/0000-0002-9966-4637","affiliations":[{"raw_affiliation_string":"Iowa State University Ivy College of Business","institution_ids":["https://openalex.org/I173911158"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":1,"corresponding_author_ids":["https://openalex.org/A5086662991"],"corresponding_institution_ids":["https://openalex.org/I173911158"],"apc_list":{"value":3255,"currency":"USD","value_usd":3255},"apc_paid":null,"fwci":2.1581,"has_fulltext":false,"cited_by_count":13,"citation_normalized_percentile":{"value":0.8812458,"is_in_top_1_percent":false,"is_in_top_10_percent":false},"cited_by_percentile_year":{"min":89,"max":98},"biblio":{"volume":"57","issue":"3","first_page":"1174","last_page":"1203"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10019","display_name":"Corporate Finance and Governance","score":0.9336000084877014,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10019","display_name":"Corporate Finance and Governance","score":0.9336000084877014,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10047","display_name":"Financial Markets and Investment Strategies","score":0.05310000106692314,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T12123","display_name":"Financial Analysis and Corporate Governance","score":0.004699999932199717,"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":0.9070000052452087},{"id":"https://openalex.org/keywords/stock-returns","display_name":"stock returns","score":0.9760000109672546},{"id":"https://openalex.org/keywords/r-d-investment","display_name":"R&D investment","score":0.7459999918937683},{"id":"https://openalex.org/keywords/growth-opportunities","display_name":"growth opportunities","score":0.9010000228881836},{"id":"https://openalex.org/keywords/capital-expenditure","display_name":"capital expenditure","score":0.9409999847412109},{"id":"https://openalex.org/keywords/distress-risk","display_name":"distress risk","score":0.8619999885559082},{"id":"https://openalex.org/keywords/expected-returns","display_name":"expected returns","score":0.6349999904632568}],"concepts":[{"id":"https://openalex.org/C204036174","wikidata":"https://www.wikidata.org/wiki/Q909380","display_name":"Stock (firearms)","level":2,"score":0.6913539171218872},{"id":"https://openalex.org/C2778083465","wikidata":"https://www.wikidata.org/wiki/Q693464","display_name":"Cash","level":2,"score":0.6518140435218811},{"id":"https://openalex.org/C172497479","wikidata":"https://www.wikidata.org/wiki/Q302208","display_name":"Capital expenditure","level":2,"score":0.5824238061904907},{"id":"https://openalex.org/C163428354","wikidata":"https://www.wikidata.org/wiki/Q1047513","display_name":"Cash flow","level":2,"score":0.5804147720336914},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.5035595297813416},{"id":"https://openalex.org/C556758197","wikidata":"https://www.wikidata.org/wiki/Q580018","display_name":"Monetary economics","level":1,"score":0.46870774030685425},{"id":"https://openalex.org/C166819830","wikidata":"https://www.wikidata.org/wiki/Q2025903","display_name":"Operating cash flow","level":3,"score":0.45992928743362427},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.44186609983444214},{"id":"https://openalex.org/C83646750","wikidata":"https://www.wikidata.org/wiki/Q193893","display_name":"Capital (architecture)","level":2,"score":0.4182840585708618},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.36356788873672485},{"id":"https://openalex.org/C78519656","wikidata":"https://www.wikidata.org/wiki/Q101333","display_name":"Mechanical engineering","level":1,"score":0.0},{"id":"https://openalex.org/C95457728","wikidata":"https://www.wikidata.org/wiki/Q309","display_name":"History","level":0,"score":0.0},{"id":"https://openalex.org/C127413603","wikidata":"https://www.wikidata.org/wiki/Q11023","display_name":"Engineering","level":0,"score":0.0},{"id":"https://openalex.org/C166957645","wikidata":"https://www.wikidata.org/wiki/Q23498","display_name":"Archaeology","level":1,"score":0.0}],"mesh":[],"locations_count":2,"locations":[{"id":"doi:10.1017/s0022109021000120","doi":"https://doi.org/10.1017/s0022109021000120","is_oa":false,"landing_page_url":"https://doi.org/10.1017/s0022109021000120","pdf_url":null,"source":{"id":"https://openalex.org/S193228710","display_name":"Journal of Financial and Quantitative Analysis","issn_l":"0022-1090","issn":["0022-1090","1756-6916"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a-star","anvur-class-a","anvur-scientific","cwts-core","erih-plus","fnege-1","ft50","jufo-3","norway-2","poland-140","russia-white-list-1","vabb-shw"],"host_organization":"https://openalex.org/P4310311721","host_organization_name":"Cambridge University Press","host_organization_lineage":["https://openalex.org/P4310311721","https://openalex.org/P4310311702"],"host_organization_lineage_names":["Cambridge University Press","University of Cambridge"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Journal of Financial and Quantitative Analysis","raw_type":"journal-article"},{"id":"pmh:oai:RePEc:cup:jfinqa:v:57:y:2022:i:3:p:1174-1203_12","doi":null,"is_oa":false,"landing_page_url":"https://www.cambridge.org/core/product/identifier/S0022109021000120/type/journal_article","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":[],"study_designs":[],"awards":[],"funders":[],"has_content":{"grobid_xml":false,"pdf":false},"content_urls":null,"referenced_works_count":33,"referenced_works":["https://openalex.org/W1805699599","https://openalex.org/W1982558172","https://openalex.org/W1995834279","https://openalex.org/W2006985435","https://openalex.org/W2015800048","https://openalex.org/W2039912669","https://openalex.org/W2046981474","https://openalex.org/W2052752492","https://openalex.org/W2056917813","https://openalex.org/W2062269829","https://openalex.org/W2121085701","https://openalex.org/W2136120210","https://openalex.org/W2602498544","https://openalex.org/W2916725777","https://openalex.org/W2972588609","https://openalex.org/W3021190191","https://openalex.org/W3121238216","https://openalex.org/W3121453935","https://openalex.org/W3121630491","https://openalex.org/W3121986562","https://openalex.org/W3122520021","https://openalex.org/W3123201237","https://openalex.org/W3123639445","https://openalex.org/W3124012175","https://openalex.org/W3124339933","https://openalex.org/W3124620510","https://openalex.org/W3124786919","https://openalex.org/W3124796920","https://openalex.org/W3124955107","https://openalex.org/W3125353045","https://openalex.org/W3125476415","https://openalex.org/W3125580691","https://openalex.org/W4242067316"],"related_works":["https://openalex.org/W2218232220","https://openalex.org/W3125192385","https://openalex.org/W7095941228","https://openalex.org/W1979578542","https://openalex.org/W4416730737","https://openalex.org/W2907718167","https://openalex.org/W2769275251","https://openalex.org/W2046981474","https://openalex.org/W2408663943","https://openalex.org/W1931732505"],"abstract_inverted_index":{"Abstract":[0],"The":[1,46],"prior":[2],"literature":[3],"links":[4],"cash":[5,26,43,83],"holdings":[6],"and":[7,27,44,73,84],"returns":[8,28,85],"(Simutin":[9],"(2010),":[10],"Palazzo":[11],"(2012)).":[12],"Using":[13],"two":[14],"signals":[15],"of":[16],"aggregate-funding":[17],"availability,":[18],"I":[19],"find":[20],"that":[21,79],"the":[22,80],"positive":[23],"association":[24,41,81],"between":[25,42,82],"only":[29],"exists":[30],"during":[31],"constrained":[32,49],"funding":[33],"environments.":[34],"In":[35],"unconstrained":[36],"periods,":[37],"there":[38],"is":[39,66,86],"no":[40],"returns.":[45],"relation":[47],"in":[48,69,102],"environments":[50],"does":[51],"not":[52],"appear":[53],"to":[54,57,100],"be":[55],"related":[56],"capital":[58,103],"expenditures,":[59],"expected":[60],"return,":[61],"or":[62,105],"distress":[63],"risk":[64],"but":[65],"more":[67,87],"prevalent":[68],"firms":[70],"undertaking":[71],"research":[72],"development":[74],"(R&D)":[75],"expenditures.":[76],"This":[77],"suggests":[78],"consistent":[88],"with":[89],"expanding":[90],"(or":[91],"maintaining)":[92],"future":[93],"growth":[94],"opportunities":[95],"rather":[96],"than":[97],"being":[98],"attributable":[99],"differences":[101],"expenditures":[104],"risk.":[106]},"counts_by_year":[{"year":2026,"cited_by_count":1},{"year":2025,"cited_by_count":1},{"year":2024,"cited_by_count":4},{"year":2023,"cited_by_count":7}],"updated_date":"2026-11-10T11:39:43.021295","created_date":"2021-02-15T00:00:00"}