Nonlinear target adjustment in corporate liquidity management: an endogenous thresholds approach

W. Allard Bruinshoofd () and Clemens Kool

Applied Economics, 2009, vol. 41, issue 17, pages 2125-2131

Abstract: We provide new empirical evidence on nonlinear liquidity management in Dutch firms. Our results reveal that liquidity adjustment from below the target is significantly faster than from above. We find no evidence for bands of inaction around the target.

Date: 2009

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Related works:
Working Paper: Non-Linear Target Adjustment in Corporate Liquidity Management: An Endogenous Thresholds Approach (2006)
Working Paper: Non-linear target adjustment in corporate liquidity management: an endogenous thresholds approach (2006)
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