Abstract
We investigate the association between voluntary formation of board investment committee (IC) and corporate cash holdings of nonfinancial firms over the corporate life cycle stages for a large sample of Gulf Cooperation Council firms during 2005–2016. We find that IC increases corporate cash holdings in growth and maturity stages of firm, compared to introduction, shake-out, and decline stages. These results have important implications for investors, policy makers, and regulators. Our findings are robust to various econometrics specifications.
| Original language | English |
|---|---|
| Journal | International Review of Finance |
| DOIs | |
| Publication status | Accepted/In press - Jan 1 2018 |
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ASJC Scopus subject areas
- Finance
- Economics and Econometrics
Cite this
Investment Committee, Corporate Cash Holdings and Corporate Life Cycle. / Eulaiwi, Baban; Al-Hadi, Ahmed; Hussain, Syed; Al Yahyaee, Khamis.
In: International Review of Finance, 01.01.2018.Research output: Contribution to journal › Article
}
TY - JOUR
T1 - Investment Committee, Corporate Cash Holdings and Corporate Life Cycle
AU - Eulaiwi, Baban
AU - Al-Hadi, Ahmed
AU - Hussain, Syed
AU - Al Yahyaee, Khamis
PY - 2018/1/1
Y1 - 2018/1/1
N2 - We investigate the association between voluntary formation of board investment committee (IC) and corporate cash holdings of nonfinancial firms over the corporate life cycle stages for a large sample of Gulf Cooperation Council firms during 2005–2016. We find that IC increases corporate cash holdings in growth and maturity stages of firm, compared to introduction, shake-out, and decline stages. These results have important implications for investors, policy makers, and regulators. Our findings are robust to various econometrics specifications.
AB - We investigate the association between voluntary formation of board investment committee (IC) and corporate cash holdings of nonfinancial firms over the corporate life cycle stages for a large sample of Gulf Cooperation Council firms during 2005–2016. We find that IC increases corporate cash holdings in growth and maturity stages of firm, compared to introduction, shake-out, and decline stages. These results have important implications for investors, policy makers, and regulators. Our findings are robust to various econometrics specifications.
UR - http://www.scopus.com/inward/record.url?scp=85056179520&partnerID=8YFLogxK
UR - http://www.scopus.com/inward/citedby.url?scp=85056179520&partnerID=8YFLogxK
U2 - 10.1111/irfi.12240
DO - 10.1111/irfi.12240
M3 - Article
AN - SCOPUS:85056179520
JO - International Review of Finance
JF - International Review of Finance
SN - 1369-412X
ER -