Aaltodoc publication archive (Aalto University institutional repository)
School of Business | Department of Finance | Finance | 2011
Thesis number: 12642
What factors cause cash ratios to increase in Western European and Nordic countries?
|Title:||What factors cause cash ratios to increase in Western European and Nordic countries?|
|Year:||2011 Language: eng|
|Department:||Department of Finance|
|Index terms:||rahoitus; financing; euro; euro; kassavirta; cash flow|
» hse_ethesis_12642.pdf size:925 KB (946264)
|Key terms:||cash ratios; financial constraints; agency problems; cash flow volatility; dividends; euro|
Many papers have contribute to the understanding of cash holdings for firms in the U.S.. The possible reasons are also suggested according to different authors. However, cash holdings in Europe have not been investigated even though ample firm data exist in Europe. My study attributes to the analysis of cash ratios in Europe. From my research, I notice that cash ratios increases significantly for firms in western European and Nordic countries from 1980 to 2009. This paper analyzes potential reasons that lead to the increase of cash holdings.
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