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	Provedor de dados AgEcon (1) Autor Bruinshoofd, W. Allard (1) Kool, Clemens J.M. (1) Palavra-chave C33 (1) C43 (1) Corporate liquidity demand (1) E41 (1) G3 (1) Precautionary liquidity (1) Mais... Tipo do documento Journal Article (1) Ano 2004 (1) País United States (1) Idioma Inglês (1)		Ordenar por:  Relevância Autor Título Ano Registros recuperados: 1 Primeira ... 1 ... Última Dutch corporate liquidity management: New evidence on aggregation AgEcon Bruinshoofd, W. Allard; Kool, Clemens J.M.. In this paper we investigate Dutch corporate liquidity management in general, and target adjustment behaviour in particular. To this purpose, we use a simple error correction model of corporate liquidity holdings applied to firm-level data for the period 1977-1997. We confirm the existence of long-run liquidity targets at the firm level. We also find that changes in liquidity holdings are driven by short-run shocks as well as the urge to converge towards targeted liquidity levels. The rate of target convergence is higher when we include more firm-specific information in the target. This result supports the idea that increased precision in defining liquidity targets associates with a faster observed rate of target convergence. It also suggests that the slow... Tipo: Journal Article Palavras-chave: Corporate liquidity demand; Precautionary liquidity; C33; C43; E41; G3. Ano: 2004 URL: http://purl.umn.edu/37606 Registros recuperados: 1 Primeira ... 1 ... Última

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