Business, Management and Accounting
3 years ago

State ownership boosts cash holdings during crises in emerging markets.

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International Journal of Emerging Markets
Foreign ownership, state ownership and cash holdings under the global financial crisis: evidence from the emerging market of Vietnam
Quynh Nga Nguyen Thi, Quốc Trung Trần, Hong Phat Doan

Paper Summary

The study looked at how the global financial crisis affected the relationship between state ownership, foreign ownership, and corporate cash holdings in Vietnam. They found that state ownership was linked to lower cash holdings, especially during the crisis, while foreign ownership was linked to higher cash holdings, with this effect being weaker during the crisis. The impact of state ownership was more significant in financially unconstrained firms. This research adds to the ongoing debate about the effects of state and foreign ownership on cash holdings in emerging markets.

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