Investment Committee, Corporate Cash Holdings and Corporate Life Cycle

Baban Eulaiwi; Ahmed Al-Hadi; Syed Hussain; Khamis Al Yahyaee

doi:10.1111/irfi.12240

Investment Committee, Corporate Cash Holdings and Corporate Life Cycle

Baban Eulaiwi, Ahmed Al-Hadi, Syed Hussain, Khamis Al Yahyaee^*

^*Corresponding author for this work

Economics & Finance

Research output: Contribution to journal › Article › peer-review

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	https://doi.org/10.1111/irfi.12240
Publication status	Accepted/In press - Jan 1 2018

ASJC Scopus subject areas

Finance
Economics and Econometrics

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10.1111/irfi.12240

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