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We review the literature on corporate cash holdings considering studies on the precautionary motive, agency conflicts, and the incentives related to corporate taxation.We present a theoretical framework and empirical evidence on the determinants of cash in the context of the firm’s policies related to payout, financing, risk management, operations, and investment.Finally, we highlight a few methodological issues in empirical research.

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Cash Holdings

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  • 发表日期：

    2025年

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  • Marco Bianco

摘要

We review the literature on corporate cash holdings considering studies on the precautionary motive, agency conflicts, and the incentives related to corporate taxation.We present a theoretical framework and empirical evidence on the determinants of cash in the context of the firm’s policies related to payout, financing, risk management, operations, and investment.Finally, we highlight a few methodological issues in empirical research.