Artículo
Cash holdings and corporate financialization: Evidence from listed Latin American firms
Fecha de publicación:
08/2022
Editorial:
SAGE Publications
Revista:
Competition & Change
ISSN:
1024-5294
e-ISSN:
1477-2221
Idioma:
Inglés
Tipo de recurso:
Artículo publicado
Clasificación temática:
Resumen
The increase in cash holdings held by non-financial corporations in emerging economies in general, and Latin American in particular, has received less attention vis-à-vis their advanced economies? peers. Considering that cash holdings contain not only cash but also short-term, interest-bearing assets, we test whether the pursuit of financial revenues was one motive behind the decision to hold this type of asset as it is claimed in analyses of corporate financialization. We use a panel of listed non-financial firms from Argentina, Brazil, Chile, Mexico, and Peru between 1998 and 2018 to test this hypothesis. Although we find supporting statistical evidence in favor of this relation, this is mostly explained by Brazil and results point towards a low economic significance.
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Articulos(IIESS)
Articulos de INST. DE INVESTIGACIONES ECONOMICAS Y SOCIALES DEL SUR
Articulos de INST. DE INVESTIGACIONES ECONOMICAS Y SOCIALES DEL SUR
Citación
Rabinovich, Joel; Perez Artica, Rodrigo; Cash holdings and corporate financialization: Evidence from listed Latin American firms; SAGE Publications; Competition & Change; 27; 3-4; 8-2022; 635-655
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