TY - JOUR
T1 - Investment Committee, Corporate Cash Holdings and Corporate Life Cycle
AU - Eulaiwi, Baban
AU - Al-Hadi, Ahmed
AU - Hussain, Syed Mujahid
AU - Al-Yahyaee, Khamis Hamed
N1 - Publisher Copyright:
© 2018 International Review of Finance Ltd. 2018
PY - 2020/9/1
Y1 - 2020/9/1
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.
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U2 - 10.1111/irfi.12240
DO - 10.1111/irfi.12240
M3 - Article
AN - SCOPUS:85056179520
SN - 1369-412X
VL - 20
SP - 757
EP - 769
JO - International Review of Finance
JF - International Review of Finance
IS - 3
ER -