淡江大學機構典藏:Item 987654321/24222
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    Please use this identifier to cite or link to this item: https://tkuir.lib.tku.edu.tw/dspace/handle/987654321/24222


    Title: Differential cash constraints, financial leverage and demand for money by firms in a Developing Country
    Authors: 鄒孟文;Tsou, Meng-wen;Liu, Jin-tan;Wang, Ping
    Contributors: 淡江大學國際貿易學系暨國際企業研究所
    Date: 2001-01
    Issue Date: 2009-11-30 18:11:26 (UTC+8)
    Abstract: This paper studies firms’ demand for money by developing a differential-cash-constraint framework with firms’ entire wage bills requiring cash in advance and a fraction of investment purchases being financed by credits. In addition to conventional scale and opportunity-cost factors, firms’ financial status and profitability are crucial determinants for their money demand behavior. Employing a new data set consisting of a panel of Taiwanese firms over 1990–97, our econometric analysis lends empirical support to our theory. The estimates suggest that economies of scale in firms’ cash management are present and that lower financial leverage or higher profitability raises money demand significantly.
    Relation: CEANA Meeting
    Appears in Collections:[Graduate Institute & Department of International Business] Proceeding

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