Corruption and corporate cash holdings부패와 현금 보유 정책
We examine the relation between corruption and corporate cash holding policy using data from 32,603 firms in 44 countries. We find a non-linear relation between corruption and corporate cash holdings with a negative coefficient of the cubic term of corruption. Specifically, in developed countries, a U-shape relation exists between corruption and cash holdings; however, in emerging and frontier countries, we find an inverted U-shape relation. From these outcomes, we suggest that corruption is an important variable that affects corporate cash holding policy in diverse ways by the level of economic development.
- Advisors
- Han, Seung Hunresearcher; 한승헌researcher
- Description
- 한국과학기술원 :기술경영학부,
- Publisher
- 한국과학기술원
- Issue Date
- 2020
- Identifier
- 325007
- Language
- eng
- Description
학위논문(박사) - 한국과학기술원 : 기술경영학부, 2020.2,[ii, 38 p. :]
- Keywords
Cash holdings▼aFinancial Policy▼aCorruption▼aEmerging markets▼aInternational study; 현금보유정책▼a재무정책▼a부패▼a개발도상국▼a국제연구
- Appears in Collection
- MG-Theses_Ph.D.(박사논문)
- Files in This Item
- There are no files associated with this item.
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