KDI Journal of Economic Policy

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P-ISSN 1738-656X

Vol.29, No.2

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한국개발연구. Vol. 29, No. 2, December 2007, pp. 75-116

https://doi.org/10.23895/kdijep.2005.29.2.75

× KDI Open Access is a program of fully open access journals to facilitate the widest possible dissemination of high-quality research. All research articles published in KDI JEP are immediately, permanently and freely available online for everyone to read, download and share in terms of the Creative Commons Attribution 4.0 International License.

A Study on the Pattern Changes and Determinants of Corporate Cash Holding

Kyung-Mook Lim; Yong-Seok Choi

Author & Article History

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Abstract

This study examines what changes and impacts have brought to the corporate cash holding after the financial crisis. The main findings can be summarized by two parts. First, the recent high increase in cash holding is only found in few companies, meaning that the level of the overall ratio has not risen. Second, Korean companies tend to have a higher ratio of cash holding when they have more uncertainty about their business performances. The higher the uncertainty in overall business performances also has some effects on the cash holding patterns of the Korean companies.

Keywords

재무구조(capital structure), 유동성(liquidity), 위험관리(risk management)

JEL Code

G31, G32, G38

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