This paper examines the direct and spillover effects of cash transfers paid in a rural and low-income setting. In the short run, an unconditional cash transfer program for ultra-poor households in Northern Nigeria led to a 12 percentage point increase in micro-enterprise formation for program...

This study examines the effect of population aging on corporate cash holdings using a sample of Chinese A-share listed firms from 2007 to 2021. These results indicate that population aging increases corporate cash holdings. The mechanism analysis suggests that increased labor adjustment costs...

The survival of a company is highly dependent on the management of its working capital. Effective working capital management can lead to greater profitability. Insufficient working capital or liquidity shortages can severely hinder profitability and operational sustainability. The primary...

Despite the long-term trend away from cash and the widespread adoption and acceptance of payment cards, many people still carry considerable amounts of cash. In a preregistered study, I examine whether risk attitudes can explain consumers' persistent cash holdings. To self-insure against the...

Aim: This article builds upon recent evidence that centralisation of cash management activities, often advocated by enthusiast protagonists from the academic, corporate and consultancy world, has given way to decentralisation thereof. The aim of the article is to underpin the idea that such...

The objective of this paper is to validate the existence of an extensively documented secular upward trend in corporate cash holding. To do this, we use the new data for Poland and review original datasets from Bates et al. [2009] for the U.S. We find no trace of a trend for Poland and believe...

The beginning of the year 2023 is marked by continued economic instability, some of it still lingering from economic ramifications of the COVID-19 pandemic, some brought on by the war in Ukraine, high energy prices and other more regional factors. For businesses of all shapes and sizes, this...

Firms in the Gulf region are predominantly governed by the entrepreneurial model where royal ownerships/management dominants. Using a Panel Regression Model in a sample of 202 firms across six countries in the Gulf Cooperating Council (GCC), this paper assesses the direct effect of corporate...

Euro banknotes and coins are legal tender in the euro area. Cash is also an important payment instrument for ensuring that consumers have the freedom to choose how they pay, and it is essential for the financial inclusion of all groups in society. The Eurosystem cash strategy aims to ensure that...

This research investigates the association between corporate social responsibility and cash holdings, while also exploring the moderating effect of board gender diversity on this association. The study utilizes a dataset of non-financial firms listed on the Egyptian Exchange (EGX) from 2012 to...

The present study explores the impact of earnings management on the readability of management discussion and analysis (MDA) section of annual reports of 384 Indian firms for 1,160 firm-years. It also explores the moderating behaviour of cash in explaining the association between earnings...

This study investigates whether and how the perception of carbon abatement pressure affects corporate financing behavior. The results show that carbon abatement pressure increases corporate cash holdings via the channel of financing constraints, and this positive relationship still holds after a...

Maintaining an optimal level of liquidity remains a crucial agenda for firms to minimise liquidity risks. Therefore, the study aims to identify the drivers of liquidity by utilizing firm-level data of 1,544 microfinance institutions (MFIs), covering a total of 112 developing countries and a...

We analyze the role of a well-functioning cash infrastructure for the stabilizing role of cash and the resilience of cash cycles. For that purpose, experiences from developed countries with low and high cash usage are assessed by distinguishing between demand and supply factors to demonstrate...