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    政大機構典藏 > 商學院 > 會計學系 > 期刊論文 >  Item 140.119/72405
    Please use this identifier to cite or link to this item: http://nccur.lib.nccu.edu.tw/handle/140.119/72405


    Title: Operating Performances of Japanese Firms with Large Cash Holdings during the Bubble Economy
    Authors: 潘健民
    Pan, Chien-Min Kevin
    Contributors: 會計系
    Keywords: cash;operating performance;bubble economy;Japan
    Date: 2006-04
    Issue Date: 2014-12-26 17:11:39 (UTC+8)
    Abstract: The existing literature posits that large corporate cash holdings might induce agency problems and thus hinder firms' operating performance. This paper investigates how Japanese firms maintain high/low cash holding position during the late 1980s and early 1990s. I find that firms pile cash because there is no profitable project. On the other hand, firms maintain a low cash holding position due to over-investing. I also find that excess cash holdings significantly affect firms' operating performance. Lastly, I find no direct evidences that ownership structure affect firms operating performance.
    Relation: Journal of Management Accounting, Japan: Supplement, 75-99
    Data Type: article
    Appears in Collections:[會計學系] 期刊論文

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