Non-linear target adjustment in corporate liquidity management : an endogenous thresholds approach
AbstractWe provide new empirical evidence on non-linear 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 InfoPaper provided by Utrecht School of Economics in its series Working Papers with number 06-15.
Length: 13 pages
Date of creation: Jan 2006
Date of revision:
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Other versions of this item:
- W. Allard Bruinshoofd & Clemens Kool, 2009. "Nonlinear target adjustment in corporate liquidity management: an endogenous thresholds approach," Applied Economics, Taylor & Francis Journals, vol. 41(17), pages 2125-2131.
- 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
This paper has been announced in the following NEP Reports:
- NEP-ALL-2007-03-10 (All new papers)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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