The Relationship between Financial Constraints and the Value of Cash Holding: An Empirical Investigation of the North America
The main purpose of this dissertation is to explore the relationship between cash holding and financial constraints based on two type of companies, which are financial constrained companies and financial unconstrained companies. The sample is selected from all industries in the North America (exclud...
| Main Author: | |
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| Format: | Dissertation (University of Nottingham only) |
| Language: | English |
| Published: |
2018
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| Online Access: | https://eprints.nottingham.ac.uk/54516/ |
| _version_ | 1848799052998639616 |
|---|---|
| author | Wang, Jiayu |
| author_facet | Wang, Jiayu |
| author_sort | Wang, Jiayu |
| building | Nottingham Research Data Repository |
| collection | Online Access |
| description | The main purpose of this dissertation is to explore the relationship between cash holding and financial constraints based on two type of companies, which are financial constrained companies and financial unconstrained companies. The sample is selected from all industries in the North America (exclude the financial industry and the utility industry). There are three proxies are chosen to classify the sorts of companies, and three regression model are conducted to examine the impacts of cash holdings on both types of enterprises. The empirical results demonstrate that for the reason of difficulties in entering external capital market, financial constrained firms tend to hold more cash from cash flow to satisfy their company’s growth and investment opportunities, compared to firms without financial friction. |
| first_indexed | 2025-11-14T20:29:32Z |
| format | Dissertation (University of Nottingham only) |
| id | nottingham-54516 |
| institution | University of Nottingham Malaysia Campus |
| institution_category | Local University |
| language | English |
| last_indexed | 2025-11-14T20:29:32Z |
| publishDate | 2018 |
| recordtype | eprints |
| repository_type | Digital Repository |
| spelling | nottingham-545162022-08-19T15:57:53Z https://eprints.nottingham.ac.uk/54516/ The Relationship between Financial Constraints and the Value of Cash Holding: An Empirical Investigation of the North America Wang, Jiayu The main purpose of this dissertation is to explore the relationship between cash holding and financial constraints based on two type of companies, which are financial constrained companies and financial unconstrained companies. The sample is selected from all industries in the North America (exclude the financial industry and the utility industry). There are three proxies are chosen to classify the sorts of companies, and three regression model are conducted to examine the impacts of cash holdings on both types of enterprises. The empirical results demonstrate that for the reason of difficulties in entering external capital market, financial constrained firms tend to hold more cash from cash flow to satisfy their company’s growth and investment opportunities, compared to firms without financial friction. 2018-09-12 Dissertation (University of Nottingham only) NonPeerReviewed application/pdf en https://eprints.nottingham.ac.uk/54516/1/%E6%96%87%E6%A1%A32.pdf Wang, Jiayu (2018) The Relationship between Financial Constraints and the Value of Cash Holding: An Empirical Investigation of the North America. [Dissertation (University of Nottingham only)] |
| spellingShingle | Wang, Jiayu The Relationship between Financial Constraints and the Value of Cash Holding: An Empirical Investigation of the North America |
| title | The Relationship between Financial Constraints and the Value of Cash Holding: An Empirical Investigation of the North America |
| title_full | The Relationship between Financial Constraints and the Value of Cash Holding: An Empirical Investigation of the North America |
| title_fullStr | The Relationship between Financial Constraints and the Value of Cash Holding: An Empirical Investigation of the North America |
| title_full_unstemmed | The Relationship between Financial Constraints and the Value of Cash Holding: An Empirical Investigation of the North America |
| title_short | The Relationship between Financial Constraints and the Value of Cash Holding: An Empirical Investigation of the North America |
| title_sort | relationship between financial constraints and the value of cash holding: an empirical investigation of the north america |
| url | https://eprints.nottingham.ac.uk/54516/ |