CAUSALITY RELATIONSHIP BETWEEN STOCK LIQUIDITY AND CORPORATE CASH HOLDINGS
Küçük Resim Yok
Tarih
2021
Yazarlar
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Dergi ISSN
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Yayıncı
Erişim Hakkı
info:eu-repo/semantics/openAccess
Özet
Recent research documents evidence that stock liquidity and asset liquidity are associated. In the literature, some research finds the effect of asset liquidity on stock liquidity whereas some finds the effect of stock liquidity on corporate liquidity. This study examines the causality relationship between a firm’s stock liquidity and its cash holdings. We use Granger causality for a dataset of listed non-financial companies. We find bidirectional causality between the two variables. The evidence shows that the causality from stock liquidity to cash holdings is weaker than the otherwise. Furthermore, our findings imply that investors are more reliant on firm’s cash holdings for valuation of smaller firms.
Açıklama
Anahtar Kelimeler
Kaynak
Uluslararası Yönetim İktisat ve İşletme Dergisi
WoS Q Değeri
Scopus Q Değeri
Cilt
17
Sayı
1
