학회소식
[2003년 제 4차] Do cash holdings give the signal for a change in a
작성자 : 관리자
조회수 : 846
게시일 :
2003-10-13
In this paper we explore the effects of the firm’s cash holdings on its capital structure. Unlike existing studies, this paper examines how the change in the firm’s cash holdings affects the change in its capital structure in the future. We find that there are positive and strong relationships between the change in cash holdings and the change in leverage ratio. Also, we suggest the hypothesis that may connect our results with the theory of the traditional capital structure.
