An investigation of determinants of corporate cash holdings: UK evidence

Wang, Jingyuan (2011) An investigation of determinants of corporate cash holdings: UK evidence. [Dissertation (University of Nottingham only)] (Unpublished)

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Abstract

This dissertation investigates the determinants of corporate cash holdings for the UK publicly traded firms between 2001 and 2010. The empirical evidence suggests that small firms tend to accumulate more cash. The results reveal that firms with better investment opportunities and firms with higher cash flow uncertainty hold more cash. The leverage, cash flow, net working capital and capital expenditure are negatively related with corporate cash holdings. In addition, the impact of financial constraints on corporate cash holdings is also analyzed. Financial constrained firms tend to accumulate more cash than other firms. The findings support the transaction cost motive and precautionary motive of holding cash.

Item Type: Dissertation (University of Nottingham only)
Depositing User: EP, Services
Date Deposited: 30 Apr 2012 08:25
Last Modified: 15 Sep 2016 15:10
URI: http://eprints.nottingham.ac.uk/id/eprint/24957

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