Nonlinear target adjustment in corporate liquidity management: an endogenous thresholds approach
AbstractWe provide new empirical evidence on nonlinear liquidity management in Dutch firms. Our results reveal that liquidity adjustment from below the target is significantly faster than from above. We find no evidence for bands of inaction around the target.
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Bibliographic InfoArticle provided by Taylor & Francis Journals in its journal Applied Economics.
Volume (Year): 41 (2009)
Issue (Month): 17 ()
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Other versions of this item:
- A. Bruinshoofd & C.J.M. Kool, 2006. "Non-linear target adjustment in corporate liquidity management : an endogenous thresholds approach," Working Papers 06-15, Utrecht School of Economics.
- W. Allard Bruinshoofd & Clemens J. M. Kool, 2006. "Non-Linear Target Adjustment in Corporate Liquidity Management: An Endogenous Thresholds Approach," DNB Working Papers 087, Netherlands Central Bank, Research Department.
- C33 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Models with Panel Data; Spatio-temporal Models
- E41 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Demand for Money
- G3 - Financial Economics - - Corporate Finance and Governance
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