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Non-linear target adjustment in corporate liquidity management: an endogenous thresholds approach
[journal article]
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
DOI
https://doi.org/10.1080/00036840701222587
Status
Postprint; peer reviewed
Licence
PEER Licence Agreement (applicable only to documents from PEER project)