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Non-linear target adjustment in corporate liquidity management: an endogenous thresholds approach

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Bruinshoofd, Allard; Kool, Clemens J.M.

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Abstract We provide new empirical evidence on non-linear liquidity management in Dutch firms. Our results reveal that liquidity adjustment from below the target is significantly faster than from above. We find no evidence for bands of inaction around the target.
Document language English
Publication Year 2009
Page/Pages p. 2125-2131
Journal Applied Economics, 41 (2009) 17
Status Postprint; peer reviewed
Licence PEER Licence Agreement (applicable only to documents from PEER project)