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Uncertain cash flow than ever
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In light of increasing global financial market volatilities, firms are encountering a more uncertain cash flow than ever. To avoid missing investment opportunities, firms will hold cash as a precautionary measure. We investigate whether cash holdings in Taiwanese firms is indeed driven by the uncertainty of cash flow. Our empirical results confirm that uncertainty of cash flow is the most important factor that explains why firms hold cash.
26p
trinhthamhodang2
21-01-2020
21
1
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