The role of corruption in shaping the value of holding cash

Domenico Rocco Cambrea, Maurizio La Rocca, Alfio Cariola

Risultato della ricerca: Contributo in rivistaArticolo in rivistapeer review

6 Citazioni (Scopus)

Abstract

This paper analyses the relationship between cash holdings and performance, considering the moderating effect of corruption that exists in the institutional context in which firms operate. The results show the importance of corruption in shaping the sign and the intensity of the value of cash holdings. The sign of the effect of corporate liquidity on firm performance changes according to varying levels of corruption. Holding cash is shown to have a noteworthy and no marginal role in supporting business activities and points to an avenue of investigation for future research.
Lingua originaleEnglish
pagine (da-a)104-108
Numero di pagine5
RivistaFINANCE RESEARCH LETTERS
DOI
Stato di pubblicazionePubblicato - 2017

Keywords

  • Cash holdings
  • Cash stock
  • Corruption
  • Firm performance

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