出版社：Associação Nacional de Pós-Graduação e Pesquisa em Administração
摘要：This research expands on previous studies of cash holdings and their determinants by studying the relationship between the degree of internationalization and the level of corporate cash holdings. We used a sample of non - financial, publicly traded companies from Brazil and Mexico for the period from 2006 to 2010. Our results suggest that the degree of internationalization is a determinant of cash, and that cash holding increases quadratically as the degree of company internationalization grows. Such behavior was different from the North American company studies in Chiang and Wang (2011). Similar to previous studies, both Trade - off and Pecking Order predictions are relevant control variables in our model. Finally, companies held less cash on their balance sheets du ring the precrisis period.
其他摘要：This research expands on previous studies of cash holdings and their determinants by studying the relationship between the degree of internationalization and the level of corporate cash holdings. We used a sample of non - financial, publicly traded companies from Brazil and Mexico for the period from 2006 to 2010. Our results suggest that the degree of internationalization is a determinant of cash, and that cash holding increases quadratically as the degree of company internationalization grows. Such behavior was different from the North American company studies in Chiang and Wang (2011). Similar to previous studies, both Trade - off and Pecking Order predictions are relevant control variables in our model. Finally, companies held less cash on their balance sheets du ring the precrisis period.
关键词：Cash management; degree of internationalization; multinational companies.
其他关键词：Cash management; degree of internationalization; multinational companies.
