Internationalization and Corporate Cash Holdings: Evidence from Brazil and Mexico
Autor(a) principal: | |
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Data de Publicação: | 2015 |
Outros Autores: | , |
Tipo de documento: | Artigo |
Idioma: | eng |
Título da fonte: | RAC. Revista de Administração Contemporânea (Online) |
Texto Completo: | http://old.scielo.br/scielo.php?script=sci_arttext&pid=S1415-65552015000700002 |
Resumo: | This research expands on previous studies of cash holdings and their determinants by studying the relationship between the degree of internationalization and the level of corporate cash holdings. We used a sample of non-financial, publicly traded companies from Brazil and Mexico for the period from 2006 to 2010. Our results suggest that the degree of internationalization is a determinant of cash, and that cash holding increases quadratically as the degree of company internationalization grows. Such behavior was different from the North American company studies in Chiang and Wang (2011). Similar to previous studies, both Trade-off and Pecking Order predictions are relevant control variables in our model. Finally, companies held less cash on their balance sheets during the pre-crisis period. |
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RAC. Revista de Administração Contemporânea (Online) |
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Internationalization and Corporate Cash Holdings: Evidence from Brazil and Mexicocash managementdegree of internationalizationmultinational companiesThis research expands on previous studies of cash holdings and their determinants by studying the relationship between the degree of internationalization and the level of corporate cash holdings. We used a sample of non-financial, publicly traded companies from Brazil and Mexico for the period from 2006 to 2010. Our results suggest that the degree of internationalization is a determinant of cash, and that cash holding increases quadratically as the degree of company internationalization grows. Such behavior was different from the North American company studies in Chiang and Wang (2011). Similar to previous studies, both Trade-off and Pecking Order predictions are relevant control variables in our model. Finally, companies held less cash on their balance sheets during the pre-crisis period.Associação Nacional de Pós-Graduação e Pesquisa em Administração2015-05-01info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersiontext/htmlhttp://old.scielo.br/scielo.php?script=sci_arttext&pid=S1415-65552015000700002Revista de Administração Contemporânea v.19 n.spe 2015reponame:RAC. Revista de Administração Contemporânea (Online)instname:Associação Nacional de Pós-Graduação e Pesquisa em Administração (ANPAD)instacron:ANPAD10.1590/1982-7849rac20151452info:eu-repo/semantics/openAccessArata,NewtonSheng,Hsia HuaLora,Mayra Ivanoffeng2016-05-17T00:00:00Zoai:scielo:S1415-65552015000700002Revistahttps://rac.anpad.org.br/index.php/racONGhttps://rac.anpad.org.br/index.php/rac/oairac@anpad.org.br1982-78491415-6555opendoar:2016-05-17T00:00RAC. Revista de Administração Contemporânea (Online) - Associação Nacional de Pós-Graduação e Pesquisa em Administração (ANPAD)false |
dc.title.none.fl_str_mv |
Internationalization and Corporate Cash Holdings: Evidence from Brazil and Mexico |
title |
Internationalization and Corporate Cash Holdings: Evidence from Brazil and Mexico |
spellingShingle |
Internationalization and Corporate Cash Holdings: Evidence from Brazil and Mexico Arata,Newton cash management degree of internationalization multinational companies |
title_short |
Internationalization and Corporate Cash Holdings: Evidence from Brazil and Mexico |
title_full |
Internationalization and Corporate Cash Holdings: Evidence from Brazil and Mexico |
title_fullStr |
Internationalization and Corporate Cash Holdings: Evidence from Brazil and Mexico |
title_full_unstemmed |
Internationalization and Corporate Cash Holdings: Evidence from Brazil and Mexico |
title_sort |
Internationalization and Corporate Cash Holdings: Evidence from Brazil and Mexico |
author |
Arata,Newton |
author_facet |
Arata,Newton Sheng,Hsia Hua Lora,Mayra Ivanoff |
author_role |
author |
author2 |
Sheng,Hsia Hua Lora,Mayra Ivanoff |
author2_role |
author author |
dc.contributor.author.fl_str_mv |
Arata,Newton Sheng,Hsia Hua Lora,Mayra Ivanoff |
dc.subject.por.fl_str_mv |
cash management degree of internationalization multinational companies |
topic |
cash management degree of internationalization multinational companies |
description |
This research expands on previous studies of cash holdings and their determinants by studying the relationship between the degree of internationalization and the level of corporate cash holdings. We used a sample of non-financial, publicly traded companies from Brazil and Mexico for the period from 2006 to 2010. Our results suggest that the degree of internationalization is a determinant of cash, and that cash holding increases quadratically as the degree of company internationalization grows. Such behavior was different from the North American company studies in Chiang and Wang (2011). Similar to previous studies, both Trade-off and Pecking Order predictions are relevant control variables in our model. Finally, companies held less cash on their balance sheets during the pre-crisis period. |
publishDate |
2015 |
dc.date.none.fl_str_mv |
2015-05-01 |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/article |
dc.type.status.fl_str_mv |
info:eu-repo/semantics/publishedVersion |
format |
article |
status_str |
publishedVersion |
dc.identifier.uri.fl_str_mv |
http://old.scielo.br/scielo.php?script=sci_arttext&pid=S1415-65552015000700002 |
url |
http://old.scielo.br/scielo.php?script=sci_arttext&pid=S1415-65552015000700002 |
dc.language.iso.fl_str_mv |
eng |
language |
eng |
dc.relation.none.fl_str_mv |
10.1590/1982-7849rac20151452 |
dc.rights.driver.fl_str_mv |
info:eu-repo/semantics/openAccess |
eu_rights_str_mv |
openAccess |
dc.format.none.fl_str_mv |
text/html |
dc.publisher.none.fl_str_mv |
Associação Nacional de Pós-Graduação e Pesquisa em Administração |
publisher.none.fl_str_mv |
Associação Nacional de Pós-Graduação e Pesquisa em Administração |
dc.source.none.fl_str_mv |
Revista de Administração Contemporânea v.19 n.spe 2015 reponame:RAC. Revista de Administração Contemporânea (Online) instname:Associação Nacional de Pós-Graduação e Pesquisa em Administração (ANPAD) instacron:ANPAD |
instname_str |
Associação Nacional de Pós-Graduação e Pesquisa em Administração (ANPAD) |
instacron_str |
ANPAD |
institution |
ANPAD |
reponame_str |
RAC. Revista de Administração Contemporânea (Online) |
collection |
RAC. Revista de Administração Contemporânea (Online) |
repository.name.fl_str_mv |
RAC. Revista de Administração Contemporânea (Online) - Associação Nacional de Pós-Graduação e Pesquisa em Administração (ANPAD) |
repository.mail.fl_str_mv |
rac@anpad.org.br |
_version_ |
1754209052899934208 |