Ando, Koichi; Hori, Keiichi; Saito, Makoto - Institute of Economic Research, Hitotsubashi University - 2009
between 1982 and 2005, this paper empirically investigates the determinants of corporate cash holdings using the panel data of … extraction by banks over industry firms promoted corporate cash holdings in the early 1980s. However, the weakened bank power was … not responsible for a drastic decrease in the cash/asset ratio observed during the first half of the 1990s. Instead, the …