DO GROUP AFFILIATED AND UNAFFILIATED FIRMS HOLD CASH DIFFERENTLY? THE CASE OF PAKISTAN

Clicks: 36
ID: 97047
2017
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Abstract
This study analyses the effect of business group membership on cash holding pattern of affiliated firms listed at Pakistan Stock Exchange from 2009-2014. Group affiliation can increase benefits for affiliated firms by providing an access to internal capital markets, particularly in emerging economies where institutional control is weak and access to external financing is difficult and expensive. Using panel data of public limited group affiliated firms and comparable standalone firms, the empirical results show that group firms hold less cash than standalone firms. The results are in line with the view that access to internal capital markets enables group affiliated firms to manage their operations with low cash reserves.
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ishtiaq2017doannals Use this key to autocite in the manuscript while using SciMatic Manuscript Manager or Thesis Manager
Authors Ishtiaq, Ahmad;
Journal annals of the university of oradea: economic science
Year 2017
DOI
DOI not found
URL
http://anale.steconomiceuoradea.ro/volume/2017/n1/36.pdf
Keywords
business economics as a science finance management. industrial management accounting. bookkeeping

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