Corporate Governance and Cash Holdings

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Author(s): Ahmed Hassanein (Mansoura University, Egypt & Gulf University for Sceince and Technology (GUST), Kuwait)
Copyright: 2021
Pages: 17
Source title: Corporate Governance and Its Implications on Accounting and Finance
Source Author(s)/Editor(s): Ahmad Alqatan (University of Portsmouth, UK), Khaled Hussainey (University of Portsmouth, UK)and Hichem Khlif (University of Sfax, Tunisia)
DOI: 10.4018/978-1-7998-4852-3.ch014

Keywords: Accounting and Finance / Business & Management / Business Science Reference / Management Science

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Abstract

Corporate cash induces the opportunistic behavior of corporate managers that can create an agency problem. A corporate governance system controls the opportunistic behavior of managers and can affect the firm's policy on holding cash. This study explains how the aspects of corporate governance, country-level and firm-level governance, can affect the corporate policy on holding cash. First, the study provides the nature, definition, and importance of corporate cash holdings. Second, it outlines various motivations and theories behind holding corporate cash. Third, it explains the relation between firm-level governance and corporate cash holdings. Fourth, it focuses on the impact of firm-specific governance attributes on the level of corporate cash holdings. Fifth, it presents the relation between country-level governance and corporate cash holdings.

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