Investment Committee, Corporate Cash Holdings and Corporate Life Cycle

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

*Corresponding author for this work

Research output: Contribution to journalArticlepeer-review

3 Citations (Scopus)

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 languageEnglish
Pages (from-to)757-769
Number of pages13
JournalInternational Review of Finance
Volume20
Issue number3
DOIs
Publication statusPublished - Sept 1 2020

ASJC Scopus subject areas

  • Finance
  • Economics and Econometrics

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