Non-)precautionary cash hoarding and the evolution of growth firms
We analyze whether growth firms should delay current investment to hoard cash in order to reduce dilution from external financing. This hoarding motive is the natural counterpart to saving cash as a precaution to help secure funding for future investment opportunities. However, the two motives lead...
| Main Authors: | , |
|---|---|
| Format: | Article |
| Language: | English |
| Published: |
INFORMS Inst.for Operations Res.and the Management Sciences
2019
|
| Subjects: | |
| Online Access: | View Fulltext in Publisher |