International Business and Accounting Research Journal
Vol 4, No 2 (2020): July 2020 Article in press

Examining The Excess Cash Holdings As An Indicator of Agency Problems

Hendrawaty, Ernie (Unknown)

Article Info

Publish Date
07 Jul 2020

Abstract

This research aims to examine the implications of excess cash holdings on firm value based on agency theory. Data were obtained from a total sample of 1828 non-financial public companies in Indonesia, with 672 exceeding normal cash holdings using the panel regression techniques. The result showed that excess cash holdings have a negative effect on the firm value which is stronger for more concentrated ownership, for more dispersed ownership and for more financially difficult firms. Overall the empirical finding showed that excess cash holdings acts as a significant indicator of agency problems.

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Journal Info
International Business and Accounting Research Journal
Website

Abbrev

ibarj

Publisher

Lembaga Pendidikan Profesional Cendekia Hotel and Business School

Subject

Economics, Econometrics & Finance

Description

International Business and Accounting Research Journal seeks to consolidate its position as the premier vehicle for the diversification of academic finance. The journal publishes high quality, insightful, well-written papers that explore current and new issues in International Finance. The editorial ...