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政大機構典藏 > 商學院 > 財務管理學系 > 期刊論文 > Item 140.119/150566

Please use this identifier to cite or link to this item: https://nccur.lib.nccu.edu.tw/handle/140.119/150566

Title:	Debt capacity, cash holdings and financial constraints
Authors:	周冠男 Chou, Robin K.;Lu, Chien-Lin;Chen, Hsuan-Chi;Lin, Chih-Yung
Contributors:	財管系
Keywords:	cash holdings;debt capacity;debt structure;financial constraints;leverage deviation
Date:	2023-12
Issue Date:	2024-03-26 15:24:03 (UTC+8)
Abstract:	In this study, we explore the relationship among debt capacity, cash holdings and financial constraints by using the deviation in leverage as a proxy for debt capacity. Our findings show a positive relationship between cash holdings and debt capacity. Furthermore, financially constrained firms benefit more from holding cash that leads to larger increases in debt capacity and easier access to bank loans and credit lines by reducing the heterogeneous beliefs of creditors. Our results indicate that cash holdings complement debt capacity for financially constrained firms.
Relation:	Journal of Business Finance and Accounting
Data Type:	article
DOI 連結:	https://doi.org/10.1111/jbfa.12771
DOI:	10.1111/jbfa.12771
Appears in Collections:	[財務管理學系] 期刊論文

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