Corporate brand value and cash holdings

Bharadwaj, Neeraj; Hanssens, Dominique M.; Rao, Ramesh P.

doi:10.1057/s41262-020-00188-5

Cited by 14 publications

(10 citation statements)

References 45 publications

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“…Breuer et al considered the degree of investors' risk aversion and then proved that the cash holding value decreases with the aversion of investors to information uncertainty [59]. Bharadwaj et al discussed the cash holdings of companies based on the brand value [60]. Mikkelson and Partch proposed that high cash holdings contribute to the improvement of operating performance [61].…”

Section: Related Workmentioning

confidence: 99%

[Retracted] Empirical Research on the Relationship between Industry Working Capital Shortfall and Company Cash Holding in the Same Industry

Jiang

Xia

et al. 2022

Discrete Dynamics in Nature and Society

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Affected by the fluctuation of the market and economic environment during the epidemic period, the capital pressure of companies has increased sharply, which increases the possibility of risk transmission in the same industry and poses new challenges to the operation and financing of companies. From the perspective of preventive motivation of corporate cash holding, we creatively use the industry working capital shortfall as the explanatory variable to construct an Extended Cash Holding Model and a Cash Holding Value Regression Model. Taking the panel data of A-share listed companies in Shanghai and Shenzhen as samples, this paper uses the Classical Linear Regression Model and Fixed Effects Regression Model to study the relationship between industry working capital shortfall and cash holdings in the same industry, as well as the relationship between industry working capital shortfall and cash holding value. The empirical results show that industry working capital shortfall has an important impact on the cash holding level within the same industry, and the cash holding level is significantly and positively correlated with industry working capital shortfall. Moreover, this study also reveals that the industry working capital shortfall has a dual impact on cash holdings. Specifically, the higher the risk of industry working capital shortfall, the lower the value of company cash holdings. The conclusions of this paper not only extend the research on cash holding but also provide support and reference for companies to optimize the cash holding value.

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Section: Related Workmentioning

confidence: 99%

[Retracted] Empirical Research on the Relationship between Industry Working Capital Shortfall and Company Cash Holding in the Same Industry

Jiang

Xia

et al. 2022

Discrete Dynamics in Nature and Society

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“…Our suggestion to researchers who want to conduct marketing event studies resembles Skiera et al's call to elaborate more on which parts of SHV are influenced by marketing events. First evidence (albeit not in an event-study setting) shows that marketing assets such as customer satisfaction and brand equity can have a significant effect on debt-related metrics such as credit ratings (Anderson & Mansi, 2009;Himme & Fischer, 2014) and cash holdings (Bharadwaj et al, 2020;Larkin, 2013), so a general statement is not possible. Given that the components of the leverage effect are publicly available, calculating CAR OB , comparing it with CAR SHV , and interpreting potential differences should be standard practice in marketing-finance research (for a recent application, see Lim et al, 2018).…”

Section: Event Studiesmentioning

confidence: 99%

The marketing–finance interface: A new integrative review of metrics, methods, and findings and an agenda for future research

Edeling

Srinivasan

Hanssens

2021

International Journal of Research in Marketing

Self Cite

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The marketing–finance interface is an important research field in marketing, helping demonstrate the accountability of marketing within companies and building a necessary interdisciplinary bridge to finance and accounting research. Since the first comprehensive review article by Srinivasan and Hanssens (2009), the marketing–finance field has broadened considerably, as has research in finance and accounting. This updated systematic review of extant and new research integrates research in marketing, finance, and accounting into an overarching marketing–finance research framework. We discuss new methodological developments and offer solutions to recent technical debates on the event-study method and Tobin’s q. Motivated in part by a survey of marketing–finance researchers, the article identifies and synthesizes four key emerging research areas: digital marketing and firm value, tradeoffs between “doing good” and “doing well,” the mechanisms of firm-value effects, and feedback effects. The article closes with a future research agenda for this dynamic research field and offers key conclusions.

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“…, 2021), business group membership (Locorotondo et al. , 2014), social capital (Habib and Hasan, 2017), corporate brand value (Bharadwaj et al , 2020), product market threats (Hoberg et al. , 2014) and a bundle of other firm-level factors (Amess et al.…”

Section: Theoretical Framework and Hypothesesmentioning

confidence: 99%

Does corporate social responsibility transparency mitigate corporate cash holdings?

Zadeh

Magnan

Cormier

et al. 2021

IJMF

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PurposeThis article aims to explore whether a firm's corporate social responsibility (CSR) transparency alleviates a firm's cash holdings.Design/methodology/approachCSR transparency ratings encompass both the quantity and the quality of CSR practices, as validated by Bloomberg. While based upon firm-specific disclosure, transparency ratings impound additional information gathered independently by Bloomberg and thus bridge the gap between CSR disclosure and CSR performance. The authors use ordinary least squares estimators, and the authors concentrate on a panel of S&P 500 index companies over the period of 2012–2018 to examine the effect of CSR transparency on corporate cash holdings.FindingsThe authors document that a higher level of CSR transparency induces a lower level of corporate cash holdings. Additional results imply that this negative relationship is more pronounced for firms suffering from high information asymmetry, with low financial reporting quality and for those with weak governance. Further analyses document that higher CSR transparency can help firms to enjoy lower cost of debt and to be less financially constrained, enabling high CSR transparent firms to obtain external financing more easily and at a lower cost, thus lowering the need to hoard cash. Ultimately, the study findings suggest that CSR transparency increases the market value relevance of an additional dollar in cash holdings.Originality/valueThe authors contribute to both research streams of CSR and corporate cash holdings as they provide evidence about the influence of CSR transparency as a monitoring and insurance-like mechanism on corporate cash holdings.

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Corporate brand value and cash holdings

Cited by 14 publications

References 45 publications

[Retracted] Empirical Research on the Relationship between Industry Working Capital Shortfall and Company Cash Holding in the Same Industry

[Retracted] Empirical Research on the Relationship between Industry Working Capital Shortfall and Company Cash Holding in the Same Industry

The marketing–finance interface: A new integrative review of metrics, methods, and findings and an agenda for future research

Does corporate social responsibility transparency mitigate corporate cash holdings?

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