Cash holdings and corporate financialization: Evidence from listed Latin American firms

Autores
Rabinovich, Joel; Perez Artica, Rodrigo
Año de publicación
2022
Idioma
inglés
Tipo de recurso
artículo
Estado
versión publicada
Descripción
The increase in cash holdings held by non-financial corporations in emerging economies in general, and Latin American in particular, has received less attention vis-à-vis their advanced economies? peers. Considering that cash holdings contain not only cash but also short-term, interest-bearing assets, we test whether the pursuit of financial revenues was one motive behind the decision to hold this type of asset as it is claimed in analyses of corporate financialization. We use a panel of listed non-financial firms from Argentina, Brazil, Chile, Mexico, and Peru between 1998 and 2018 to test this hypothesis. Although we find supporting statistical evidence in favor of this relation, this is mostly explained by Brazil and results point towards a low economic significance.
Fil: Rabinovich, Joel. City University of London; Reino Unido. Consejo Nacional de Investigaciones Científicas y Técnicas; Argentina
Fil: Perez Artica, Rodrigo. Consejo Nacional de Investigaciones Cientificas y Tecnicas. Centro Cientifico Tecnologico Conicet - Bahia Blanca. Instituto de Investigaciones Economicas y Sociales del Sur. Grupo Vinculado de la Localidad de Pigue | Universidad Nacional del Sur. Departamento de Economia. Instituto de Investigaciones Economicas y Sociales del Sur. Grupo Vinculado de la Localidad de Pigue.; Argentina
Materia
CASH HOLDINGS
CORPORATE FINANCIALIZATION
FINANCIALIZATION
FINANCIALIZATION OF THE FIRM
LATIN AMERICA
Nivel de accesibilidad
acceso abierto
Condiciones de uso
https://creativecommons.org/licenses/by-nc/2.5/ar/
Repositorio
CONICET Digital (CONICET)
Institución
Consejo Nacional de Investigaciones Científicas y Técnicas
OAI Identificador
oai:ri.conicet.gov.ar:11336/238956
Acceder
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repository_id_str 3498
network_name_str CONICET Digital (CONICET)
spelling Cash holdings and corporate financialization: Evidence from listed Latin American firmsRabinovich, JoelPerez Artica, RodrigoCASH HOLDINGSCORPORATE FINANCIALIZATIONFINANCIALIZATIONFINANCIALIZATION OF THE FIRMLATIN AMERICAhttps://purl.org/becyt/ford/5.2https://purl.org/becyt/ford/5The increase in cash holdings held by non-financial corporations in emerging economies in general, and Latin American in particular, has received less attention vis-à-vis their advanced economies? peers. Considering that cash holdings contain not only cash but also short-term, interest-bearing assets, we test whether the pursuit of financial revenues was one motive behind the decision to hold this type of asset as it is claimed in analyses of corporate financialization. We use a panel of listed non-financial firms from Argentina, Brazil, Chile, Mexico, and Peru between 1998 and 2018 to test this hypothesis. Although we find supporting statistical evidence in favor of this relation, this is mostly explained by Brazil and results point towards a low economic significance.Fil: Rabinovich, Joel. City University of London; Reino Unido. Consejo Nacional de Investigaciones Científicas y Técnicas; ArgentinaFil: Perez Artica, Rodrigo. Consejo Nacional de Investigaciones Cientificas y Tecnicas. Centro Cientifico Tecnologico Conicet - Bahia Blanca. Instituto de Investigaciones Economicas y Sociales del Sur. Grupo Vinculado de la Localidad de Pigue | Universidad Nacional del Sur. Departamento de Economia. Instituto de Investigaciones Economicas y Sociales del Sur. Grupo Vinculado de la Localidad de Pigue.; ArgentinaSAGE Publications2022-08info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersionhttp://purl.org/coar/resource_type/c_6501info:ar-repo/semantics/articuloapplication/pdfapplication/pdfhttp://hdl.handle.net/11336/238956Rabinovich, Joel; Perez Artica, Rodrigo; Cash holdings and corporate financialization: Evidence from listed Latin American firms; SAGE Publications; Competition & Change; 27; 3-4; 8-2022; 635-6551024-52941477-2221CONICET DigitalCONICETenginfo:eu-repo/semantics/altIdentifier/doi/10.1177/10245294221117275info:eu-repo/semantics/openAccesshttps://creativecommons.org/licenses/by-nc/2.5/ar/reponame:CONICET Digital (CONICET)instname:Consejo Nacional de Investigaciones Científicas y Técnicas2025-11-05T09:58:39Zoai:ri.conicet.gov.ar:11336/238956instacron:CONICETInstitucionalhttp://ri.conicet.gov.ar/Organismo científico-tecnológicoNo correspondehttp://ri.conicet.gov.ar/oai/requestdasensio@conicet.gov.ar; lcarlino@conicet.gov.arArgentinaNo correspondeNo correspondeNo correspondeopendoar:34982025-11-05 09:58:39.938CONICET Digital (CONICET) - Consejo Nacional de Investigaciones Científicas y Técnicasfalse
dc.title.none.fl_str_mv Cash holdings and corporate financialization: Evidence from listed Latin American firms
title Cash holdings and corporate financialization: Evidence from listed Latin American firms
spellingShingle Cash holdings and corporate financialization: Evidence from listed Latin American firms
Rabinovich, Joel
CASH HOLDINGS
CORPORATE FINANCIALIZATION
FINANCIALIZATION
FINANCIALIZATION OF THE FIRM
LATIN AMERICA
title_short Cash holdings and corporate financialization: Evidence from listed Latin American firms
title_full Cash holdings and corporate financialization: Evidence from listed Latin American firms
title_fullStr Cash holdings and corporate financialization: Evidence from listed Latin American firms
title_full_unstemmed Cash holdings and corporate financialization: Evidence from listed Latin American firms
title_sort Cash holdings and corporate financialization: Evidence from listed Latin American firms
dc.creator.none.fl_str_mv Rabinovich, Joel
Perez Artica, Rodrigo
author Rabinovich, Joel
author_facet Rabinovich, Joel
Perez Artica, Rodrigo
author_role author
author2 Perez Artica, Rodrigo
author2_role author
dc.subject.none.fl_str_mv CASH HOLDINGS
CORPORATE FINANCIALIZATION
FINANCIALIZATION
FINANCIALIZATION OF THE FIRM
LATIN AMERICA
topic CASH HOLDINGS
CORPORATE FINANCIALIZATION
FINANCIALIZATION
FINANCIALIZATION OF THE FIRM
LATIN AMERICA
purl_subject.fl_str_mv https://purl.org/becyt/ford/5.2
https://purl.org/becyt/ford/5
dc.description.none.fl_txt_mv The increase in cash holdings held by non-financial corporations in emerging economies in general, and Latin American in particular, has received less attention vis-à-vis their advanced economies? peers. Considering that cash holdings contain not only cash but also short-term, interest-bearing assets, we test whether the pursuit of financial revenues was one motive behind the decision to hold this type of asset as it is claimed in analyses of corporate financialization. We use a panel of listed non-financial firms from Argentina, Brazil, Chile, Mexico, and Peru between 1998 and 2018 to test this hypothesis. Although we find supporting statistical evidence in favor of this relation, this is mostly explained by Brazil and results point towards a low economic significance.
Fil: Rabinovich, Joel. City University of London; Reino Unido. Consejo Nacional de Investigaciones Científicas y Técnicas; Argentina
Fil: Perez Artica, Rodrigo. Consejo Nacional de Investigaciones Cientificas y Tecnicas. Centro Cientifico Tecnologico Conicet - Bahia Blanca. Instituto de Investigaciones Economicas y Sociales del Sur. Grupo Vinculado de la Localidad de Pigue | Universidad Nacional del Sur. Departamento de Economia. Instituto de Investigaciones Economicas y Sociales del Sur. Grupo Vinculado de la Localidad de Pigue.; Argentina
description The increase in cash holdings held by non-financial corporations in emerging economies in general, and Latin American in particular, has received less attention vis-à-vis their advanced economies? peers. Considering that cash holdings contain not only cash but also short-term, interest-bearing assets, we test whether the pursuit of financial revenues was one motive behind the decision to hold this type of asset as it is claimed in analyses of corporate financialization. We use a panel of listed non-financial firms from Argentina, Brazil, Chile, Mexico, and Peru between 1998 and 2018 to test this hypothesis. Although we find supporting statistical evidence in favor of this relation, this is mostly explained by Brazil and results point towards a low economic significance.
publishDate 2022
dc.date.none.fl_str_mv 2022-08
dc.type.none.fl_str_mv info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
http://purl.org/coar/resource_type/c_6501
info:ar-repo/semantics/articulo
format article
status_str publishedVersion
dc.identifier.none.fl_str_mv http://hdl.handle.net/11336/238956
Rabinovich, Joel; Perez Artica, Rodrigo; Cash holdings and corporate financialization: Evidence from listed Latin American firms; SAGE Publications; Competition & Change; 27; 3-4; 8-2022; 635-655
1024-5294
1477-2221
CONICET Digital
CONICET
url http://hdl.handle.net/11336/238956
identifier_str_mv Rabinovich, Joel; Perez Artica, Rodrigo; Cash holdings and corporate financialization: Evidence from listed Latin American firms; SAGE Publications; Competition & Change; 27; 3-4; 8-2022; 635-655
1024-5294
1477-2221
CONICET Digital
CONICET
dc.language.none.fl_str_mv eng
language eng
dc.relation.none.fl_str_mv info:eu-repo/semantics/altIdentifier/doi/10.1177/10245294221117275
dc.rights.none.fl_str_mv info:eu-repo/semantics/openAccess
https://creativecommons.org/licenses/by-nc/2.5/ar/
eu_rights_str_mv openAccess
rights_invalid_str_mv https://creativecommons.org/licenses/by-nc/2.5/ar/
dc.format.none.fl_str_mv application/pdf
application/pdf
dc.publisher.none.fl_str_mv SAGE Publications
publisher.none.fl_str_mv SAGE Publications
dc.source.none.fl_str_mv reponame:CONICET Digital (CONICET)
instname:Consejo Nacional de Investigaciones Científicas y Técnicas
reponame_str CONICET Digital (CONICET)
collection CONICET Digital (CONICET)
instname_str Consejo Nacional de Investigaciones Científicas y Técnicas
repository.name.fl_str_mv CONICET Digital (CONICET) - Consejo Nacional de Investigaciones Científicas y Técnicas
repository.mail.fl_str_mv dasensio@conicet.gov.ar; lcarlino@conicet.gov.ar
_version_ 1847977398667051008
score 13.087074

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