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La trésorerie des entreprises françaises : tentative d'explication par la démarche d'engagement crédible

Abstract : Why do French companies hold so much more cash than they used to two decades ago? We targeted the period 1989-1993 in order to study the emergence of the phenomenon of cash holdings. Using a logistic function to analyse both qualitative and quantitative French firm data from the Central Bank of the « Banque de France », we find that marketable securities are related to the credible commitment hypothesis shown in transaction cost theory, agency theory and the literature on business strategy.
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https://hal-auf.archives-ouvertes.fr/hal-01133764
Contributor : Henri Koulayom <>
Submitted on : Monday, May 4, 2015 - 2:12:11 PM
Last modification on : Monday, June 15, 2015 - 3:08:22 PM
Document(s) archivé(s) le : Monday, April 17, 2017 - 8:00:20 PM

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Régis Coeurderoy, Henri Koulayom. La trésorerie des entreprises françaises : tentative d'explication par la démarche d'engagement crédible. 2007. ⟨hal-01133764⟩

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