The current literature frequently examines the effects of shareholder rights protection on corporate cash holdings in the context of agency theory. In this study, we show that national culture influences corporate managers' cash holding behavior beyond the effects of corporate governance and...

We take a new approach to the study of the impact of EMU on consumption smoothing. Rather than relying on inferences based on the behavior of consumption levels or growth, we focus on consumption volatility and therefore on smoothing more directly. Consequently, we find that even though EMU...