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
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.
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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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Persistent link: https://EconPapers.repec.org/RePEc:taf:applec:v:41:y:2009:i:17:p:2125-2131
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