TY - GEN
T1 - Dynamical adjustment of cash holdings in operations management
AU - Li, Guojun
AU - Hankins, Kristine Watson
PY - 2011
Y1 - 2011
N2 - This paper empirically studies how do firms adjust cash holdings dynamically. The analysis reveals that firms have an optimal level of cash holdings, and tend to adjust the cash holdings toward the optimal level. Moreover, additional tests indicate that the speed of adjustment has asymmetric feature, which the speed in the under group is faster than that in the partial group. Overall, our results provide that compelling evidence firm's cash policy encompasses a substantial and valuable strategic dimension.
AB - This paper empirically studies how do firms adjust cash holdings dynamically. The analysis reveals that firms have an optimal level of cash holdings, and tend to adjust the cash holdings toward the optimal level. Moreover, additional tests indicate that the speed of adjustment has asymmetric feature, which the speed in the under group is faster than that in the partial group. Overall, our results provide that compelling evidence firm's cash policy encompasses a substantial and valuable strategic dimension.
KW - Cash holding
KW - Dynamical adjustment
KW - Operations management
UR - http://www.scopus.com/inward/record.url?scp=80052998000&partnerID=8YFLogxK
UR - http://www.scopus.com/inward/citedby.url?scp=80052998000&partnerID=8YFLogxK
U2 - 10.4028/www.scientific.net/AMR.314-316.2003
DO - 10.4028/www.scientific.net/AMR.314-316.2003
M3 - Conference contribution
AN - SCOPUS:80052998000
SN - 9783037852156
T3 - Advanced Materials Research
SP - 2003
EP - 2007
BT - Advanced Manufacturing Technology
T2 - 2011 International Conference on Advanced Design and Manufacturing Engineering, ADME 2011
Y2 - 16 September 2011 through 18 September 2011
ER -