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

Allard Bruinshoofd () and Clemens Kool

Applied Economics, 2009, vol. 41, issue 17, 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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DOI: 10.1080/00036840701222587

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