Bookcover of Cash Reserves during the Financial Crisis
Booktitle:

Cash Reserves during the Financial Crisis

An Analysis of large US Companies and their Reactions to the Financial Crisis

VDM Verlag Dr. Müller (2011-04-06 )

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ISBN-13:

978-3-639-34482-0

ISBN-10:
3639344820
EAN:
9783639344820
Book language:
English
Blurb/Shorttext:
By the end of 2006, the average company in the S&P 500 held approximately 7.9% of its total assets in cash – a total amount of 721 billion dollars! Nevertheless, in three years, this figure increased to approximately 1,157 billion dollars. By the end of 2009, the same companies had almost 10% of their total assets “invested” in cash. This book is dedicated to investigating this increase in cash holdings in the course of only three years, a period that was heavily impacted by a financial crisis. The main objective is to identify what determines a company's decision to enlarge its cash holdings, especially when confronted with an economic downturn. Existing theoretical approaches to explaining cash holdings (such as tradeoff, pecking order and free cash flow theory) are challenged by a data set prone to a severe financial as well as economic crisis.
Publishing house:
VDM Verlag Dr. Müller
Website:
http://www.vdm-verlag.de
By (author) :
Markus Trapp
Number of pages:
76
Published at:
2011-04-06
Stock:
Available
Category:
Economics
Price:
49.00 €
Keywords:
finance, tradeoff / pecking order theory, cash, liquidity, speculative / precautionary motive

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