Employment protection laws and corporate cash holdings

We study how employment protection laws (EPLs) affect corporate cash-holding decision. By exploiting within-country changes in EPLs across 20 OECD countries as a source of variation in labor adjustment costs, we show that following an increase in the stringency of EPLs, firms’ cash holdings increase...

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Bibliographic Details
Main Authors: Ahmet Karpuz, Kirak Kim, Neslihan Ozkan
Format: Default Article
Published: 2019
Subjects:
Finance
Applied Mathematics
Banking, Finance and Investment
Economic Theory
employment protection
labor adjustment cost
cash holdings
value of cash
Online Access:https://hdl.handle.net/2134/11303663.v1
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https://hdl.handle.net/2134/11303663.v1

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