{"id":"https://openalex.org/W4296366170","doi":"https://doi.org/10.1080/00036846.2022.2117781","title":"The impact of economic policy uncertainty and financial development on the sensitivity of corporate cash holding to cash flows","display_name":"The impact of economic policy uncertainty and financial development on the sensitivity of corporate cash holding to cash flows","publication_year":2022,"publication_date":"2022-09-19","ids":{"openalex":"https://openalex.org/W4296366170","doi":"https://doi.org/10.1080/00036846.2022.2117781"},"language":"en","primary_location":{"id":"doi:10.1080/00036846.2022.2117781","doi":"https://doi.org/10.1080/00036846.2022.2117781","is_oa":false,"landing_page_url":"https://doi.org/10.1080/00036846.2022.2117781","pdf_url":null,"source":{"id":"https://openalex.org/S201533460","display_name":"Applied Economics","issn_l":"0003-6846","issn":["0003-6846","1466-4283"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a","anvur-class-a","anvur-scientific","cwts-core","fnege-3","jufo-1","norway-1","poland-40","russia-white-list-1","vabb-shw"],"host_organization":"https://openalex.org/P4310320547","host_organization_name":"Taylor & Francis","host_organization_lineage":["https://openalex.org/P4310320547","https://openalex.org/P4310320449"],"host_organization_lineage_names":["Taylor & Francis","Informa"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Applied Economics","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/A5051419830","display_name":"Tenkir Seifu Legesse","orcid":null,"observed_orcids":[]},"institutions":[{"id":"https://openalex.org/I4537092","display_name":"Addis Ababa University","ror":"https://ror.org/038b8e254","country_code":"ET","type":"education","lineage":["https://openalex.org/I4537092"]}],"countries":["ET"],"is_corresponding":true,"raw_author_name":"Tenkir Seifu Legesse","raw_affiliation_strings":["College of Business & Economics, School of Commerce, Addis Ababa University, Addis Ababa, Ethiopia"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"College of Business & Economics, School of Commerce, Addis Ababa University, Addis Ababa, Ethiopia","institution_ids":["https://openalex.org/I4537092"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5012788435","display_name":"Haifeng Guo","orcid":"https://orcid.org/0000-0002-6663-8838","observed_orcids":["https://orcid.org/0000-0002-6663-8838"]},"institutions":[{"id":"https://openalex.org/I204831749","display_name":"Southwestern University of Finance and Economics","ror":"https://ror.org/04ewct822","country_code":"CN","type":"education","lineage":["https://openalex.org/I204831749"]}],"countries":["CN"],"is_corresponding":false,"raw_author_name":"Haifeng Guo","raw_affiliation_strings":["Department of Finance, Southwestern University of Finance and Economics, Chengdu, China"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Department of Finance, Southwestern University of Finance and Economics, Chengdu, China","institution_ids":["https://openalex.org/I204831749"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5086751198","display_name":"Ying Wang","orcid":"https://orcid.org/0000-0003-3156-6720","observed_orcids":["https://orcid.org/0000-0003-3156-6720","https://orcid.org/0009-0007-8628-4823"]},"institutions":[{"id":"https://openalex.org/I204983213","display_name":"Harbin Institute of Technology","ror":"https://ror.org/01yqg2h08","country_code":"CN","type":"education","lineage":["https://openalex.org/I204983213"]}],"countries":["CN"],"is_corresponding":false,"raw_author_name":"Ying Wang","raw_affiliation_strings":["School of Management, Department of Finance, Harbin Institute of Technology, Harbin, China"],"raw_orcid":"https://orcid.org/0000-0003-3156-6720","affiliations":[{"raw_affiliation_string":"School of Management, Department of Finance, Harbin Institute of Technology, Harbin, China","institution_ids":["https://openalex.org/I204983213"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5101618724","display_name":"Jiqiang Tang","orcid":"https://orcid.org/0009-0009-9070-8347","observed_orcids":["https://orcid.org/0009-0009-9070-8347","https://orcid.org/0000-0002-8720-5994"]},"institutions":[{"id":"https://openalex.org/I4210087772","display_name":"National Computer Network Emergency Response Technical Team/Coordination Center of Chinar","ror":"https://ror.org/00247dh76","country_code":"CN","type":"nonprofit","lineage":["https://openalex.org/I4210087772"]}],"countries":["CN"],"is_corresponding":false,"raw_author_name":"Jiqiang Tang","raw_affiliation_strings":["National Computer Network Emergency Response Technical Team/Coordination Center of China, Beijing, China"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"National Computer Network Emergency Response Technical Team/Coordination Center of China, Beijing, China","institution_ids":["https://openalex.org/I4210087772"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5070419048","display_name":"Zhen Yu Wu","orcid":"https://orcid.org/0000-0001-7254-2990","observed_orcids":["https://orcid.org/0000-0001-7254-2990","https://orcid.org/0000-0003-1664-7370"]},"institutions":[{"id":"https://openalex.org/I4210087772","display_name":"National Computer Network Emergency Response Technical Team/Coordination Center of Chinar","ror":"https://ror.org/00247dh76","country_code":"CN","type":"nonprofit","lineage":["https://openalex.org/I4210087772"]}],"countries":["CN"],"is_corresponding":false,"raw_author_name":"Zhen Wu","raw_affiliation_strings":["National Computer Network Emergency Response Technical Team/Coordination Center of China, Beijing, China"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"National Computer Network Emergency Response Technical Team/Coordination Center of China, Beijing, China","institution_ids":["https://openalex.org/I4210087772"]}]}],"institutions":[],"countries_distinct_count":2,"institutions_distinct_count":4,"corresponding_author_ids":["https://openalex.org/A5051419830"],"corresponding_institution_ids":["https://openalex.org/I4537092"],"apc_list":null,"apc_paid":null,"fwci":1.4974,"has_fulltext":false,"cited_by_count":18,"citation_normalized_percentile":{"value":0.83246025,"is_in_top_1_percent":false,"is_in_top_10_percent":false},"cited_by_percentile_year":{"min":88,"max":99},"biblio":{"volume":"55","issue":"32","first_page":"3728","last_page":"3746"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10019","display_name":"Corporate Finance and Governance","score":0.9657999873161316,"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":0.9657999873161316,"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/T12544","display_name":"Working Capital and Financial Performance","score":0.011300000362098217,"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/T10007","display_name":"Monetary Policy and Economic Impact","score":0.0017000000225380063,"subfield":{"id":"https://openalex.org/subfields/2000","display_name":"General Economics, Econometrics and 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"}}],"keywords":[{"id":"https://openalex.org/keywords/economic-policy-uncertainty","display_name":"economic policy uncertainty","score":0.9729999899864197},{"id":"https://openalex.org/keywords/financial-development","display_name":"financial development","score":0.9959999918937683},{"id":"https://openalex.org/keywords/corporate-cash-holdings","display_name":"cash holdings","score":0.890999972820282},{"id":"https://openalex.org/keywords/cash-flow-sensitivity","display_name":"cash flow sensitivity","score":0.9150000214576721},{"id":"https://openalex.org/keywords/precautionary-motive","display_name":"precautionary motive","score":0.824999988079071},{"id":"https://openalex.org/keywords/2008-financial-crisis","display_name":"2008 financial crisis","score":0.8709999918937683},{"id":"https://openalex.org/keywords/financial-institutions","display_name":"financial institutions","score":0.7549999952316284},{"id":"https://openalex.org/keywords/financial-markets","display_name":"financial markets","score":0.9200000166893005}],"concepts":[{"id":"https://openalex.org/C163428354","wikidata":"https://www.wikidata.org/wiki/Q1047513","display_name":"Cash flow","level":2,"score":0.6821142435073853},{"id":"https://openalex.org/C76087492","wikidata":"https://www.wikidata.org/wiki/Q1047352","display_name":"Cash management","level":3,"score":0.6154007315635681},{"id":"https://openalex.org/C128044525","wikidata":"https://www.wikidata.org/wiki/Q1682806","display_name":"Cash flow forecasting","level":3,"score":0.6006299257278442},{"id":"https://openalex.org/C166819830","wikidata":"https://www.wikidata.org/wiki/Q2025903","display_name":"Operating cash flow","level":3,"score":0.5996520519256592},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.5541036128997803},{"id":"https://openalex.org/C97366136","wikidata":"https://www.wikidata.org/wiki/Q460184","display_name":"Cash flow statement","level":3,"score":0.5364509224891663},{"id":"https://openalex.org/C110000284","wikidata":"https://www.wikidata.org/wiki/Q1499557","display_name":"Cash conversion cycle","level":4,"score":0.5273020267486572},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.48725953698158264},{"id":"https://openalex.org/C2778083465","wikidata":"https://www.wikidata.org/wiki/Q693464","display_name":"Cash","level":2,"score":0.48460137844085693},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.4463844299316406},{"id":"https://openalex.org/C556758197","wikidata":"https://www.wikidata.org/wiki/Q580018","display_name":"Monetary economics","level":1,"score":0.43656668066978455},{"id":"https://openalex.org/C73283319","wikidata":"https://www.wikidata.org/wiki/Q1416617","display_name":"Financial system","level":1,"score":0.43160057067871094}],"mesh":[],"locations_count":2,"locations":[{"id":"doi:10.1080/00036846.2022.2117781","doi":"https://doi.org/10.1080/00036846.2022.2117781","is_oa":false,"landing_page_url":"https://doi.org/10.1080/00036846.2022.2117781","pdf_url":null,"source":{"id":"https://openalex.org/S201533460","display_name":"Applied Economics","issn_l":"0003-6846","issn":["0003-6846","1466-4283"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a","anvur-class-a","anvur-scientific","cwts-core","fnege-3","jufo-1","norway-1","poland-40","russia-white-list-1","vabb-shw"],"host_organization":"https://openalex.org/P4310320547","host_organization_name":"Taylor & Francis","host_organization_lineage":["https://openalex.org/P4310320547","https://openalex.org/P4310320449"],"host_organization_lineage_names":["Taylor & Francis","Informa"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Applied Economics","raw_type":"journal-article"},{"id":"pmh:oai:RePEc:taf:applec:v:55:y:2023:i:32:p:3728-3746","doi":null,"is_oa":false,"landing_page_url":"http://hdl.handle.net/10.1080/00036846.2022.2117781","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":[{"id":"https://openalex.org/G4701708814","display_name":"\u57fa\u4e8e\u4e92\u8054\u7f51\u91d1\u878d\u7684\u6295\u8d44\u8005\u98ce\u9669\u611f\u77e5\u3001\u4fe1\u606f\u4e0d\u5bf9\u79f0\u4e0e\u5c3e\u90e8\u5e02\u573a\u6548\u7387\u7814\u7a76","funder_award_id":"71773025","funder_id":"https://openalex.org/F4320321001","funder_display_name":"National Natural Science Foundation of China"}],"funders":[{"id":"https://openalex.org/F4320321001","display_name":"National Natural Science Foundation of China","ror":"https://ror.org/01h0zpd94"}],"has_content":{"grobid_xml":false,"pdf":false},"content_urls":null,"referenced_works_count":31,"referenced_works":["https://openalex.org/W1513281941","https://openalex.org/W1547540007","https://openalex.org/W1966917639","https://openalex.org/W1972338270","https://openalex.org/W2003397202","https://openalex.org/W2066777296","https://openalex.org/W2087295814","https://openalex.org/W2129123189","https://openalex.org/W2538523549","https://openalex.org/W2586581208","https://openalex.org/W2591970675","https://openalex.org/W2616662920","https://openalex.org/W2741800057","https://openalex.org/W2753726906","https://openalex.org/W2754739319","https://openalex.org/W2892224068","https://openalex.org/W2896020960","https://openalex.org/W3121250421","https://openalex.org/W3121504769","https://openalex.org/W3121720731","https://openalex.org/W3121759882","https://openalex.org/W3121986562","https://openalex.org/W3123109570","https://openalex.org/W3123274296","https://openalex.org/W3123722965","https://openalex.org/W3124114405","https://openalex.org/W3125236353","https://openalex.org/W3125353045","https://openalex.org/W3126004765","https://openalex.org/W4299846046","https://openalex.org/W4403998421"],"related_works":["https://openalex.org/W2984164706","https://openalex.org/W2770038424","https://openalex.org/W3018501098","https://openalex.org/W2896020960","https://openalex.org/W7202343411","https://openalex.org/W4379196643","https://openalex.org/W4411326595","https://openalex.org/W3190536590","https://openalex.org/W2412532209","https://openalex.org/W3146199195"],"abstract_inverted_index":{"The":[0],"paper":[1],"examines":[2],"how":[3],"economic":[4,37,67,92],"policy":[5,14,38,68,86,93],"uncertainty":[6,39,69,94],"and":[7,16,44,54,95],"financial":[8,20,52,80,96],"development":[9],"affect":[10],"a":[11],"firm\u2019s":[12],"cash-holding":[13,85],"before":[15],"after":[17],"the":[18,64,103],"global":[19],"crisis.":[21],"Using":[22],"Chinese":[23],"nonfinancial":[24],"firm":[25],"data":[26],"from":[27],"1997":[28],"to":[29,47,74,89],"2018,":[30],"we":[31],"obtain":[32],"three":[33],"main":[34],"findings.":[35],"First,":[36],"increases":[40],"corporate":[41,58,71],"cash":[42,49,60,76],"holdings":[43],"its":[45],"sensitivity":[46,73],"operating":[48,75],"flows.":[50],"Second,":[51],"institution":[53],"market":[55],"developments":[56],"reduce":[57],"cash-holdings\u2019":[59,72],"flow":[61],"sensitivity.":[62],"Third,":[63],"impact":[65],"of":[66],"on":[70],"flows":[77],"decreases":[78],"with":[79],"development.":[81],"Firms":[82],"adjust":[83],"their":[84],"in":[87,91],"response":[88],"changes":[90],"development,":[97],"indicating":[98],"that":[99],"macroeconomic":[100],"factors":[101],"determine":[102],"precautionary":[104],"motive":[105],"for":[106],"holding":[107],"cash.":[108]},"counts_by_year":[{"year":2026,"cited_by_count":9},{"year":2025,"cited_by_count":6},{"year":2024,"cited_by_count":2},{"year":2023,"cited_by_count":1}],"updated_date":"2026-11-08T12:12:28.789561","created_date":"2022-09-20T00:00:00"}