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  5. International Business and Accounting Research Journal
  6. 2020
  7. Vol 4, No 2 (2020): July 2020
Please use this identifier to cite or link to this item: https://www.um.edu.mt/library/oar/handle/123456789/68173
Title: Examining the excess cash holdings as an indicator of agency problems
Authors: Hendrawaty, Ernie
Keywords: Administrative agencies
Cash management
Stock exchanges
Holding companies
Issue Date: 2020
Publisher: Sekolah Tinggi Ekonomi dan Bisnis Islam Lampung
Citation: Hendrawaty, E. (2020). Examining the excess cash holdings as an indicator of agency problems. International Business and Accounting Research Journal, 4(2), 71-80.
Abstract: This research aims to examine the implications of excess cash holdings on firm value based on agency theory. Data were obtained from a total sample of 1828 non-financial public companies in Indonesia, with 672 exceeding normal cash holdings using the panel regression techniques. The result showed that excess cash holdings have a negative effect on the firm value which is stronger for more concentrated ownership, for more dispersed ownership and for more financially difficult firms. Overall the empirical finding showed that excess cash holdings acts as a significant indicator of agency problems
URI: https://www.um.edu.mt/library/oar/handle/123456789/68173
Appears in Collections:Vol 4, No 2 (2020): July 2020

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