Corporate Governance, Cash Holdings, and Firm Value: Evidence from Japan

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Qi Luo; Toyohiko Hachiya;
(2005)
  • Journal: Review of Pacific Basin Financial Markets and Policies,volume 8,issue 4,pages613-636
  • Subject: Corporate governance, cash holdings, firm value, Japan
    • jel: jel:G1 | jel:G2 | jel:G3

This paper presents evidence on cash holdings for Japanese firms listed on the Tokyo Stock Exchange, focusing on the impact of corporate governance factors in cash holdings and the implication of cash holdings to firm value. We find that insider ownership and bank relat... View more
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