Purpose: In this paper, the authors examine the association between a firm's geographical location and the value of its cash holdings. Design/methodology/approach: Following Loughran and Schultz (2005) and Nielsson and Wójcik (2016), the authors define firms as either geographically remote or...

Purpose – Short‐term cash need plays a critical role in equity issuance decisions. Consequently, the ease with which a seasoned equity offer (SEO) is completed can have a direct effect on the cost of raising equity. The purpose of this paper is to examine whether liquidity is likely to...

Purpose The purpose of this paper is to examine whether cash flow volatility (CFV) has a negative impact on future stock returns, and whether the CFV-return relation is different among financially constrained and unconstrained firms, by using a broad sample of 21 developed markets....