The Influence of CEO Characteristics on Corporate Cash Holdings of Small Cap Companies: An empirical analysis of Germany
(2015) BUSN89 20151Department of Business Administration
- Abstract
- This study investigates the influence of CEO characteristics on corporate cash holdings. Previous research has already led to an extensive body of firm specific determinants of such, which connects tradeoff, agency and other theories. The upper echelons theory has until present not experienced major attention with regard to this field. This work shows that idiosyncratic managerial values, cognitive styles and demographics do add explanatory value to the enigma of corporate cash policies. In a multiple regression model for listed German small cap companies, the transferability of ordinary factors to civil law countries is examined and new determinants of CEO characteristics are introduced. While firm specific characteristics show conformity... (More)
- This study investigates the influence of CEO characteristics on corporate cash holdings. Previous research has already led to an extensive body of firm specific determinants of such, which connects tradeoff, agency and other theories. The upper echelons theory has until present not experienced major attention with regard to this field. This work shows that idiosyncratic managerial values, cognitive styles and demographics do add explanatory value to the enigma of corporate cash policies. In a multiple regression model for listed German small cap companies, the transferability of ordinary factors to civil law countries is examined and new determinants of CEO characteristics are introduced. While firm specific characteristics show conformity with expectations derived from present literature, manager specific factors can not uniformly be conveyed to the sample at hand. Hence, particularities of CEO characteristics in German small cap companies indeed seem to exist. (Less)
Please use this url to cite or link to this publication:
http://lup.lub.lu.se/student-papers/record/7370172
- author
- Ilchmann, Hendrik LU and Salomon, David
- supervisor
- organization
- course
- BUSN89 20151
- year
- 2015
- type
- H1 - Master's Degree (One Year)
- subject
- keywords
- Cash Holdings, Upper Echelons, CEO Characteristics, Corporate Governanc
- language
- English
- id
- 7370172
- date added to LUP
- 2015-06-29 13:35:25
- date last changed
- 2015-06-29 13:35:25
@misc{7370172, abstract = {{This study investigates the influence of CEO characteristics on corporate cash holdings. Previous research has already led to an extensive body of firm specific determinants of such, which connects tradeoff, agency and other theories. The upper echelons theory has until present not experienced major attention with regard to this field. This work shows that idiosyncratic managerial values, cognitive styles and demographics do add explanatory value to the enigma of corporate cash policies. In a multiple regression model for listed German small cap companies, the transferability of ordinary factors to civil law countries is examined and new determinants of CEO characteristics are introduced. While firm specific characteristics show conformity with expectations derived from present literature, manager specific factors can not uniformly be conveyed to the sample at hand. Hence, particularities of CEO characteristics in German small cap companies indeed seem to exist.}}, author = {{Ilchmann, Hendrik and Salomon, David}}, language = {{eng}}, note = {{Student Paper}}, title = {{The Influence of CEO Characteristics on Corporate Cash Holdings of Small Cap Companies: An empirical analysis of Germany}}, year = {{2015}}, }