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Erscheinungsjahr: 
2021
Quellenangabe: 
[Journal:] Cogent Business & Management [ISSN:] 2331-1975 [Volume:] 8 [Issue:] 1 [Article No.:] 1910161 [Year:] 2021 [Pages:] 1-11
Verlag: 
Taylor & Francis, Abingdon
Zusammenfassung: 
This research provides new evidence on financing constraints on corporate fixed investment by emphasizing the role of cash holdings as a precautionary source of funds. Applying GMM estimates to a sample of 106 Jordanian firms, the results suggest that firms follow trade-off theory in financing their investments but are financially constrained. The coefficient of the cash holdings variable appears to be negative in the fixed-investment regression, suggesting that when firms face financing shocks, they draw upon their precautionary cash reserves to smooth the path of their expenditure on fixed assets.
Schlagwörter: 
cash holdings
financing constraints
fixed investment
cash holdings
financing constraints
fixed investment
JEL: 
G11
G30
G32
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