Advanced

Is Cash King: A Shareholder’s Perspective ‘a study of excess cash implications on stock returns in periods of boom and bust’

Gunnarsson, Andri Már and Draper, Rohan (2011)
Department of Business Administration
Abstract
The purpose of this study is to identify if a relationship exists between excess cash and stock returns analysed across periods of boom and bust. Our findings document an overall positive relationship between excess cash holdings and stock returns. In regards to the specific period this paper documents a negative relationship in boom times and a positive relationship in times of downturn. From the shareholder perspective, over the long term, more value is obtained from investing in high cash firms.
Please use this url to cite or link to this publication:
author
Gunnarsson, Andri Már and Draper, Rohan
supervisor
organization
year
type
H1 - Master's Degree (One Year)
subject
keywords
Excess cash, stock returns, shareholder, GFC, cash ratio, Management of enterprises, Företagsledning, management
language
Swedish
id
1978015
date added to LUP
2011-06-01
date last changed
2012-04-02 18:50:42
@misc{1978015,
  abstract     = {The purpose of this study is to identify if a relationship exists between excess cash and stock returns analysed across periods of boom and bust. Our findings document an overall positive relationship between excess cash holdings and stock returns. In regards to the specific period this paper documents a negative relationship in boom times and a positive relationship in times of downturn. From the shareholder perspective, over the long term, more value is obtained from investing in high cash firms.},
  author       = {Gunnarsson, Andri Már and Draper, Rohan},
  keyword      = {Excess cash,stock returns,shareholder,GFC,cash ratio,Management of enterprises,Företagsledning, management},
  language     = {swe},
  note         = {Student Paper},
  title        = {Is Cash King: A Shareholder’s Perspective ‘a study of excess cash implications on stock returns in periods of boom and bust’},
  year         = {2011},
}