CORPORATE CASH HOLDING PATTERNS FROM A PERFORMANCE PERSPECTIVE

Qiwang Zhang, Ji Wang and Jiannan Geng
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Qiwang Zhang: Business School, Liaoning University, P. R. China
Ji Wang: Business School, Liaoning University, P. R. China
Jiannan Geng: Business School, Liaoning University, P. R. China

The Singapore Economic Review (SER), 2022, vol. 67, issue 02, 821-848

Abstract: Because of the difficulty of corporate cash flow forecasting and cash demand forecasting, the corporate cash holding decisions have always been a focus in theory and practice. This paper constructs corporate cash holding patterns by combining the two basic characteristics of cash holding level and volatility, and uses the dynamic panel model to test the impact of different cash holding patterns on corporate performance. The research findings reveal that there are significant differences in the impact of different cash holding patterns on corporate performance, with the stable and normal-level cash holding pattern having the greatest positive impact, while volatile and low-level cash holding pattern proved to be greatest negative impacts.

Keywords: Corporate cash holding pattern; cash holding level; cash holding volatility; corporate performance (search for similar items in EconPapers)
Date: 2022
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DOI: 10.1142/S0217590821500405

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