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Determinants Of Corporate Cash Holdings: The Case Of An Emerging Market

Author

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  • Nizamettin Bayyurt
  • Mirgül Nizaeva

Abstract

This study attempts to investigate both firm-specific and country specific determinants of corporate cash holding behaviors in case of Turkish listed 164 manufacturing firms over the period of 2003 to 2013. According to our examination, on average, manufacturing firms hold 7.3 % cash to total assets. The findings of the panel data analysis indicate that large firms, based on their total assets, hold more cash than their smaller counterparts. A positive effect of interest rate and risk on corporate cash holding was observed. Furthermore, negative associations between net working capital, leverage, asset tangibility degree, capital expenditures and cash holding level were captured.

Suggested Citation

  • Nizamettin Bayyurt & Mirgül Nizaeva, 2016. "Determinants Of Corporate Cash Holdings: The Case Of An Emerging Market," Economy & Business Journal, International Scientific Publications, Bulgaria, vol. 10(1), pages 191-201.
    • Handle: RePEc:isp:journl:v:10:y:2016:i:1:p:191-201
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    Cited by:

    1. Nwokoye Anwuli Gladys, 2022. "What Determines Cash Holding of Listed Deposit Money Banks? Evidence from Nigeria," International Journal of Economics and Finance, Canadian Center of Science and Education, vol. 14(6), pages 1-36, June.

    More about this item

    Keywords

    determinants; corporate cash holdings; emerging market;
    All these keywords.

    JEL classification:

    • A - General Economics and Teaching

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