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Determinants of cash holding in South Africa: evidence from non financial firms

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dc.date.accessioned 2020-02-14T10:15:23Z
dc.date.available 2020-02-14T10:15:23Z
dc.date.issued 2020-02-14 en
dc.identifier.uri http://hdl.handle.net/20.500.11910/15116
dc.description.abstract Cash holding is one of the most significant components of a firms current assets. The benefit of holding cash revolves around choosing the optimal timing of investment and avoiding under-price issues. This paper investigates the determinants of corporate cash holding of 80 non-financial firms in South Africa between 2007 and 2017. The Arellano-Bover/Blundell-Bond generalized method of moments (GMM) estimates indicate that leverage, firms growth opportunity, business confidence, economic growth and political stability have a negative effect on cash holdings, whereas debt maturity and cashflow exerts a positive influence. Other factors such as firm size, dividends payments, inflation rate and financial crises have an insignificant impact on company cash holdings. en
dc.format.medium Print en
dc.publisher Earthscan en
dc.subject GROWTH OPPORTUNITIES en
dc.subject CASH HOLDING en
dc.subject FINANCIAL MANAGEMENT en
dc.title Determinants of cash holding in South Africa: evidence from non financial firms en
dc.type Journal Article en
dc.description.version Y en
dc.ProjectNumber N/A en
dc.Volume 11(2) en
dc.BudgetYear 2019/20 en
dc.ResearchGroup Center for Science, Technology and Innovation Indicators en
dc.SourceTitle African Review of Economics and Finance en
dc.PlaceOfPublication Johannesburg en
dc.ArchiveNumber 11177 en
dc.PageNumber 303-324 en
dc.outputnumber 10292 en
dc.bibliographictitle Kasongo, A. (2019) Determinants of cash holding in South Africa: evidence from non financial firms . <i>African Review of Economics and Finance</i>. 11(2):303-324. en
dc.publicationyear 2019 en
dc.contributor.author1 Kasongo, A. en


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