Credit ratings and corporate cash holdings: Evidence from Korea’s corporate reform after the 1997 Asian financial crisis

2018 ◽  
Vol 45 ◽  
pp. 9-18 ◽  
Author(s):  
Denis Yongmin Joe ◽  
Frederick Dongchuhl Oh
Keyword(s):  
Financial Crisis ◽  
Credit Ratings ◽  
Cash Holdings ◽  
Asian Financial Crisis ◽  
Corporate Cash Holdings ◽  
Corporate Reform

scholarly journals All You Need Is Cash: Corporate Cash Holdings and Investment after the Financial Crisis

2019 ◽  
Author(s):  
Andreas Joseph ◽  
Christiane Kneer ◽  
Neeltje van Horen ◽  
Jumana Saleheen
Keyword(s):  
Financial Crisis ◽  
Cash Holdings ◽  
Corporate Cash Holdings

Foreign ownership, state ownership and cash holdings under the global financial crisis: evidence from the emerging market of Vietnam

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Quynh Nga Nguyen Thi ◽  
Quoc Trung Tran ◽  
Hong Phat Doan
Keyword(s):  
Financial Crisis ◽  
Global Financial Crisis ◽  
Emerging Market ◽  
Cash Holdings ◽  
Foreign Ownership ◽  
State Ownership ◽  
Exogenous Shock ◽  
Content Type ◽  
The Global Financial Crisis ◽  
Corporate Cash Holdings

PurposeThis paper investigates how the global financial crisis changes the effects of state ownership and foreign ownership on corporate cash holdings in an emerging market.Design/methodology/approachWe employ an interactive term between state ownership (foreign ownership) and a crisis dummy to analyze how the global financial crisis determines the effect of state ownership (foreign ownership) on corporate cash holdings.FindingsWith a research sample including 5,493 observations from 621 listed firms over the period 2007–2017, we find that state ownership (foreign ownership) is negatively (positively) related to corporate cash holdings and the effect of state ownership (foreign ownership) is stronger (weaker) during the crisis period. Moreover, the increase in the effect of state ownership is larger in financially unconstrained firms.Originality/valuePrior research shows that the effects of state ownership and foreign ownership on corporate cash holdings in emerging markets are still debatable. This paper extends this line of research by investigating how the global financial crisis – an exogenous shock – changes these effects.

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