イワタ キヨノリ
IWATA Kiyonori
岩田 聖德 所属 東京経済大学 経営学部 職種 専任講師 |
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言語種別 | 英語 |
発行・発表の年月 | 2023/11/14 |
形態種別 | 研究論文(学術雑誌) |
査読 | 査読あり |
標題 | How does stock liquidity affect corporate cash holdings in Japan?: A pre-registered report |
執筆形態 | 共著 |
掲載誌名 | Pacific-Basin Finance Journal |
掲載区分 | 国外 |
著者・共著者 | Ryosuke Fujitani, Yukihiro Yasuda |
概要 | Our research proposes a compelling link: firms with more actively traded (liquid) stocks would hold higher cash reserves as a cushion against unexpected stock price crashes.
This prediction becomes particularly striking in scenarios where managers are not primarily driven to use cash to boost stock prices through stock repurchases. To rule out possible alternative explanations, we will examine variations in the relationship between stock liquidity and cash holdings. |
researchmap用URL | https://www.sciencedirect.com/science/article/pii/S0927538X23002767 |