Work

Does Foreign Institutional Ownership Contribute a More Efficient and Value-Added Cash Policy? Evidence from Taiwan

Year: 2025

Type: article

Abstract: : This study uses non-financial listed firms in Taiwan as sample to estimate the effect of foreign institutional ownership on corporate cash holdings and firm values as well. The empirical results exhibit a negative effect of foreign institutional ownership on corporate cash holdings, and this negative effect is greater than that of domestic institutional ownership. In addition, the positive contribution of cash holdings to firm values only come from foreign institutional ownership, no such effect from domestic institutional ownership. Our results demonstrate that foreign institutional ownership really contributes a more efficient and value-added cash policy in Taiwan. Keywords: Foreign Institutional Ownership, Domestic Institutional Ownership, Cash Holdings, Firm Value

Source: Zenodo (CERN European Organization for Nuclear Research)

DOI: 10.5281/zenodo.15500697

Authors: Zhe-Qiao Wu, Yi-Chein Chiang

Institution: Feng Chia University

Language: English

Topic: Corporate Finance and Governance

Subfield: Accounting

Field: Business, Management and Accounting

Domain: Social Sciences

Open Access status: green

OpenAlex ID: W6893258185

FWCI:

Cites:

Cited by:

Related to: