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Excess corporate cash: Liquidity, insurance, or value destroyer?
Author(s) -
Le Guyader Louis P.
Publication year - 2011
Publication title -
journal of corporate accounting and finance
Language(s) - English
Resource type - Journals
eISSN - 1097-0053
pISSN - 1044-8136
DOI - 10.1002/jcaf.21720
Subject(s) - market liquidity , cash , recession , value (mathematics) , business , economics , monetary economics , cash flow , financial economics , finance , keynesian economics , mathematics , statistics
Despite the recession–or perhaps because of it–US companies have excess cash. But does this provide liquidity and insurance, or does it destroy value instead? © 2011 Wiley Periodicals, Inc.