Is saving vital? Evidence from the financial crisis
Küçük Resim Yok
Tarih
2020
Yazarlar
Dergi Başlığı
Dergi ISSN
Cilt Başlığı
Yayıncı
Univ Oviedo
Erişim Hakkı
info:eu-repo/semantics/openAccess
Özet
We use a sample of 8,561 firm-years from the highly regulated Main Market (MAIN) and relatively unregulated Alternative Investment Market (AIM) in the United Kingdom to analyse the impact of financial restrictions on optimal cash holdings in the context of financial crises. Employing system generalised methods of moments, we find that AIM firms have a faster adjustment speed of cash as confirmed by precautionary and transaction motives over 2002-2017. However, AIM firms decrease (increase) their adjustment speed of cash more than MAIN firms during (after) the financial crises.
Açıklama
Anahtar Kelimeler
adjustment speed, eurozone debt crisis, financial constraints, global financial crisis, market regulations
Kaynak
Economics and Business Letters
WoS Q Değeri
N/A
Scopus Q Değeri
Q2
Cilt
9
Sayı
2
