Firms' cash reserve, financial constraint, and geopolitical risk

Chien Chiang Lee, Chih Wei Wang

研究成果: 雜誌貢獻期刊論文同行評審

40 引文 斯高帕斯(Scopus)

摘要

This study investigates whether geopolitical risks influence Chinese firms' cash holdings. We find that firms tend to hoard more cash as a precautionary measure when faced with geopolitical risk. Moreover, firms that are financially constrained maintain cash reserves as buffer against geopolitical risk. Finally, firms in manufacturing-related industries tend to save more cash and protect themselves from risk spillover as China's manufacturing sector has slowed down with the current China–United States trade war. Our research notes that policymakers and investors can pay more attention to the effect of geopolitical risk on enterprises' cash reserves.

原文???core.languages.en_GB???
文章編號101480
期刊Pacific Basin Finance Journal
65
DOIs
出版狀態已出版 - 2月 2021

指紋

深入研究「Firms' cash reserve, financial constraint, and geopolitical risk」主題。共同形成了獨特的指紋。

引用此