This paper examines the extent of firm level over-investment of free cash flow. Using an
accounting-based framework to measure over-investment and free cash flow, I find evidence …

This study contrasts the effect of cash holding on firm value for a sample of US industrial
firms during 2001–2007. The study tests empirically for the existence of an optimal cash …

This work analyses the factors that might explain the level of cash holdings in a sample of
860 small and medium‐sized firms from Spain during the period 1996–2001. The empirical …

Investment decisions plays vital role in achieving the firm's strategic plan. Due to the
involvement of large amount of money, these decisions are most critical for all the …

With corporate cash holdings on the rise, stakeholders need to know, among other things,
what informs the companies' cash holding policies and whether there are any benefits to be …

Earnings management practices can exacerbate information asymmetry between
stakeholders such as creditors, suppliers and investors and the focal firm. However, different …

We show the influence the size of a corporate board has on firms' ESG controversies. Our
analysis suggests that businesses with larger boards are more effective in mitigating ESG …

Corporate cash holdings always involve a trade-off between benefits and costs. This study
investigates the determinants of corporate cash holdings. Cash flows, leverage, liquidity …

Cash holdings play an important role at the heart of firms' policies. Researchers have
devoted considerable attention to the dramatic increase in cash reserves despite alternative …

This study finds that the agency problems of companies with high free cash flow (FCF) and
low growth opportunities induce auditors of companies in the US to raise audit fees to …