Excess Cash Holdings, Stock Returns, and Investment Organicity: Evidence from UK Investment Announcements
(2022)
Journal Article
Jones, E., Li, H., & Adamolekun, O. (2022). Excess Cash Holdings, Stock Returns, and Investment Organicity: Evidence from UK Investment Announcements. Abacus, 58(4), 603-647. https://doi.org/10.1111/abac.12275
This paper examines whether the market reaction to investment announcements is conditional on company excess cash holdings. Cash may convey significant price-relevant information about the future cash flows and strategic direction of a company. Using... Read More about Excess Cash Holdings, Stock Returns, and Investment Organicity: Evidence from UK Investment Announcements.