Acharya, Viral V. (contributor); … - 2007
whether the variation is \exogenous" and unrelated to the credit risk of
the rm, or whether it is an \endogenous" response to … negatively related to the \exogenous" component of cash holdings independent of credit
risk factors. Similarly, although rms … endogenous
precautionary savings are central to understanding the e ects of cash on credit risk.
Keywords: Credit risk; Default …