CORPORATE DEMAND FOR CASH: THE INFLUENCE OF CORPORATE POPULATION GROWTH AND STRUCTURE.
The article presents information on the corporate demand for cash. This article presents a historical model of non-financial corporate cash demand. The main thrust of the argument is that very large firms have had a different demand-for-cash function from other firms. When the business population ch...
| Publicado en: | Review of Economics & Statistics Vol. 60; no. 3; pp. 467 - 472 |
|---|---|
| Autor principal: | |
| Formato: | Artículo |
| Publicado: |
MIT Press
Aug78
|
| Materias: | |
| Acceso en línea: | Ver este registro en EBSCOhost |
| fields | @attributes: recordID: 1 pdfLink: plink: https://search.ebscohost.com/login.aspx?direct=true&db=hlh&AN=4650611&site=ehost-live header: @attributes: shortDbName: hlh uiTerm: 4650611 longDbName: Humanities International Complete uiTag: AN controlInfo: bkinfo: jinfo: jid: 00346535 RMS jtl: Review of Economics & Statistics issn: 00346535 maglogo: N pubinfo: dt: Aug78 vid: 60 iid: 3 pid: 776 pub: MIT Press artinfo: ui: 4650611 10.2307/1924172 ppf: 467 ppct: 5 formats: tig: atl: CORPORATE DEMAND FOR CASH: THE INFLUENCE OF CORPORATE POPULATION GROWTH AND STRUCTURE. aug: au: Hunter, Helen Manning su: Corporations Demand function Capital Corporate finance Corporate growth Financial statements Business Business enterprises sug: subj: Corporations Demand function Capital Corporate finance Corporate growth Financial statements Business Business enterprises ab: The article presents information on the corporate demand for cash. This article presents a historical model of non-financial corporate cash demand. The main thrust of the argument is that very large firms have had a different demand-for-cash function from other firms. When the business population changes substantially, relative increases or decreases in numbers tend to be greater where entry and exit are easier, among smaller firms. Thus, business structure has changed with business population. Aggregate corporate cash holding is therefore influenced over the long run by changes in corporate population, as well as by changes in aggregate receipts, interest rates and cyclical factors. Empirical estimates indicate that the sector's postwar holding of cash, relative to receipts, was substantially less than it would have been if the composition of the corporate population had not changed as the number of firms "exploded" after 1947. The Internal Revenue Service's annual Statistics of Income gives totals for selected assets and income statement variables for firms classified by type of business and size of assets. This permits comparison of group averages for firms of different sizes. pubtype: Academic Journal doctype: Article src: R language: English refInfo: copyright: @attributes: flag: Y dt: @attributes: year: 1978 holdings: @attributes: islocal: N |
|---|