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Cash Management, Governance, and the Global Financial Crisis: Evidence From Developing Asia

Year: 2021

Type: article

Abstract: We investigate how governance and the Global Financial Crisis (GFC) affect cash management. Assessing 169,916 firm-years in 26 developing Asian countries, our empirical results show that firms in good (poor) governance countries tend to hold more cash before (after) the GFC. In particular, the outcome effect of governance on cash holdings in the pre-crisis and crisis periods shifts to a substitution effect for governance in the post-crisis period in developing Asia.

Source: Asian Economics Letters

DOI: 10.46557/001c.27135

Authors: Hasan Tekin, Ali Yavuz Polat, Ahmet Faruk Aysan, Erhan Muğaloğlu

Institutions: Karabük University, Abdullah Gül University, Hamad bin Khalifa University

Language: English

Topic: Corporate Finance and Governance

Subfield: Accounting

Field: Business, Management and Accounting

Domain: Social Sciences

SDG: Peace, justice, and strong institutions

Open Access status: diamond

OpenAlex ID: W3194111981