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

Bruinshoofd, Allard; Kool, Clemens J.M.

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@article{ Bruinshoofd2009,
 title = {Non-linear target adjustment in corporate liquidity management: an endogenous thresholds approach},
 author = {Bruinshoofd, Allard and Kool, Clemens J.M.},
 journal = {Applied Economics},
 number = {17},
 pages = {2125-2131},
 volume = {41},
 year = {2009},
 doi = {https://doi.org/10.1080/00036840701222587},
 urn = {https://nbn-resolving.org/urn:nbn:de:0168-ssoar-241270},
 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.},
}