Fiche du document
11 février 2020
- handle: 10670/1.yic7md
- hal: hal-02474321
info:eu-repo/semantics/OpenAccess
Mots-clés
D - Microeconomics/D.D2 - Production and Organizations/D.D2.D22 - Firm Behavior: Empirical Analysis G - Financial Economics/G.G3 - Corporate Finance and Governance/G.G3.G30 - General G - Financial Economics/G.G3 - Corporate Finance and Governance/G.G3.G32 - Financing Policy • Financial Risk and Risk Management • Capital and Ownership Structure • Value of Firms • Goodwill O - Economic Development, Innovation, Technological Change, and Growth/O.O1 - Economic Development/O.O1.O16 - Financial Markets • Saving and Capital Investment • Corporate Finance and GovernanceSujets proches
Capitalization (Finance) Managerial finance Corporate financial management Financial management of corporations Financial management, Corporate Corporate finance Corporation finance Financial analysis of corporations Business finance Financial planning of corporationsCiter ce document
Joel Rabinovich et al., « Cash holdings and the financialisation of Latin American nonfinancial corporations », HALSHS : archive ouverte en Sciences de l’Homme et de la Société, ID : 10670/1.yic7md
Métriques
Partage / Export
Résumé
The growth in cash holdings by non-financial corporations in emerging economies in general and Latin American in particular has received less attention compared to their peers from advanced economies. Taking into account that cash holdings contain not only cash but also short-term, interest-bearing assets, we test whether financial profitability measured by the weight of financial income over total revenues was one motive behind the increase in this type of financial asset as it is claimed in analyses of the financialisation of the firm. We use a panel of nonfinancial firms from Argentina, Brazil, Chile, Colombia, Mexico and Peru to test this hypothesis and find supporting evidence for the Brazilian case only.