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dc.contributor.authorChen, Yangyang
dc.contributor.authorDou, Paul Y.
dc.contributor.authorRhee, S. Ghon
dc.contributor.authorTruong, Cameron
dc.contributor.authorVeeraraghavan, Madhu
dc.date.accessioned2018-03-29T04:07:12Z
dc.date.available2018-03-29T04:07:12Z
dc.date.issued2015
dc.identifier.issn0378-4266en_US
dc.identifier.doi10.1016/j.jbankfin.2014.09.018en_US
dc.identifier.urihttp://hdl.handle.net/10072/172406
dc.description.abstractThis paper examines whether cultural dimensions explain the variation in corporate cash holdings around the world as well as within the United States. We establish four major findings. First, in an international setting, corporate cash holdings are negatively associated with individualism and positively associated with uncertainty-avoidance. Second, individualism and uncertainty avoidance influence the precautionary motive for holding cash. Third, firms in individualistic states in the United States hold less cash than firms in collectivistic states. Fourth, we show that individualism is positively related to the firm’s capital expenditures, acquisitions, and repurchases while uncertainty avoidance is negatively related. Our findings remain unchanged after controlling for governance factors, firm attributes, and country characteristics.en_US
dc.description.peerreviewedYesen_US
dc.languageEnglishen_US
dc.publisherElsevieren_US
dc.relation.ispartofpagefrom1en_US
dc.relation.ispartofpageto18en_US
dc.relation.ispartofjournalJournal of Banking and Financeen_US
dc.relation.ispartofvolume50en_US
dc.subject.fieldofresearchBanking, Finance and Investment not elsewhere classifieden_US
dc.subject.fieldofresearchcode150299en_US
dc.titleNational culture and corporate cash holdings around the worlden_US
dc.typeJournal articleen_US
dc.type.descriptionC1 - Peer Reviewed (HERDC)en_US
dc.type.codeC - Journal Articlesen_US
dcterms.licensehttp://creativecommons.org/licenses/by-nc-nd/4.0/en_US
dc.description.versionPost-printen_US
gro.rights.copyright© 2015 Elsevier. Licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International Licence (http://creativecommons.org/licenses/by-nc-nd/4.0/) which permits unrestricted, non-commercial use, distribution and reproduction in any medium, providing that the work is properly cited.en_US
gro.hasfulltextFull Text
gro.griffith.authorVeeraraghavan, Madhu


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