Is Cash King: A Shareholder’s Perspective ‘a study of excess cash implications on stock returns in periods of boom and bust’
(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:
http://lup.lub.lu.se/student-papers/record/1978015
- author
- Gunnarsson, Andri Már and Draper, Rohan
- supervisor
- organization
- year
- 2011
- 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 00:00:00
- 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}}, 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}}, }