LEVELS OF LIQUID ASSETS AND ENTERPRISE OUTCOMES: THE CASE OF SMALLER FIRMS BASED ABROAD

We elaborate on the determinants and performance prospects of liquid assets (cash and short-term investments) of smaller firms that are based abroad. We propose that smaller firms, for different reasons, may hold more liquid assets. Our contention also is that liquid asset holdings of cross-listed (...

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Bibliographic Details
Published inJournal of business & entrepreneurship Vol. 24; no. 2; p. 69
Main Authors Wright, Peter, Krug, Jeffrey A, Ma, Rong
Format Journal Article
LanguageEnglish
Published Durant Association for Small Business and Entrepreneurship 01.04.2013
Subjects
Asymmetry
Correlation analysis
Developing countries
Financial performance
Guardians
International business
Investments
LDCs
Liquid assets
Securities markets
Securities regulations
Small business
Stockholders
Strategic management
Studies
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Summary:We elaborate on the determinants and performance prospects of liquid assets (cash and short-term investments) of smaller firms that are based abroad. We propose that smaller firms, for different reasons, may hold more liquid assets. Our contention also is that liquid asset holdings of cross-listed (noncross-listed) smaller enterprises may be directly (inversely) associated with firm performance. Moreover, the gap in performance may be greater between cross-listed versus noncross-listed enterprises of emerging countries compared to the gap in performance of cross-listed versus noncross-listed enterprises of developed nations. [PUBLICATION ABSTRACT]
ISSN:1042-6337