Iskandar-Datta, Mai E.; Jia, Yonghong - In: Journal of Banking & Finance 36 (2012) 3, pp. 898-912
This study documents a pronounced secular upward trend in cash holdings which is almost systemic across seven industrialized countries over 1991–2008, with France exhibiting a modest rise and Japan a substantial decline. However, the driving forces underlying the cash pattern are not uniform...