{"id":3307,"date":"2016-04-18T23:57:53","date_gmt":"2016-04-18T20:57:53","guid":{"rendered":"http:\/\/www.berjournal.com\/?p=3307"},"modified":"2016-04-19T19:36:36","modified_gmt":"2016-04-19T16:36:36","slug":"managerial-ownership-and-corporate-cash-holdings-insights-from-an-emerging-market","status":"publish","type":"post","link":"https:\/\/www.berjournal.com\/tr\/managerial-ownership-and-corporate-cash-holdings-insights-from-an-emerging-market","title":{"rendered":"Managerial Ownership and Corporate Cash Holdings: Insights from an Emerging Market"},"content":{"rendered":"

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Makale Bilgileri<\/td>\n<\/tr>\n
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Dergi:<\/td>\nBusiness and Economics Research Journal<\/td>\n<\/tr>\n
Makalenin Ba\u015fl\u0131\u011f\u0131:<\/td>\nManagerial Ownership and Corporate Cash Holdings: Insights from an Emerging Market<\/td>\n<\/tr>\n
Yazar(lar):<\/td>\nNida Abdio\u011flu<\/td>\n<\/tr>\n
Cilt:<\/td>\n7<\/td>\n<\/tr>\n
Say\u0131:<\/td>\n2<\/td>\n<\/tr>\n
Y\u0131l:<\/td>\n2016<\/td>\n<\/tr>\n
Sayfa:<\/td>\n29-41<\/td>\n<\/tr>\n
ISSN:<\/td>\n1309-2448<\/td>\n<\/tr>\n
DOI Numaras\u0131:<\/td>\n10.20409\/berj.2016217494<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n
\u00d6z<\/td>\n<\/tr>\n
This paper examines the impact of managerial ownership on cash holding decisions of the firms listed in Borsa Istanbul 100 index between 2005 and 2013. Main aim of the study is to analyse whether there is any evidence for managerial alignment or managerial entrenchment effect on the corporate cash holdings. A non-monotonic relation between managerial ownership and cash holding is found. The findings indicate that managerial ownership aligns the interests of managers with those of shareholders. These firms with managerial ownership prefer to hold less cash. In addition, it is reported that at higher level of managerial ownership, entrenchment effect of managers is seen. Managers practice their own interests at the expense of shareholders\u2019 and the firms with higher level of managerial ownership hold more cash. The results also reveal that prior year\u2019s cash holding positively affects this year\u2019s cash holding. Firm size, liquidity and tangibility are also effective on cash holding decisions of Turkish firms.<\/td>\n<\/tr>\n
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Anahtar Kelimeler:<\/td>\nCash Holdings, Managerial Ownership, Panel Data, Managerial Alignment, Managerial Entrenchment<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n
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JEL S\u0131n\u0131fland\u0131rmas\u0131:<\/td>\nG30, G32, G34<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

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Makale Bilgileri Dergi: Business and Economics Research Journal Makalenin Ba\u015fl\u0131\u011f\u0131: Managerial Ownership and Corporate Cash Holdings: Insights from an Emerging Market Yazar(lar): Nida Abdio\u011flu Cilt: 7 Say\u0131: 2 Y\u0131l: 2016 Sayfa: 29-41 ISSN: 1309-2448 DOI Numaras\u0131: 10.20409\/berj.2016217494 \u00d6z This paper examines the impact of managerial ownership on cash holding decisions of the firms listed in […]<\/p>\n

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