Corporate Cash Management, Excess Cash, and Acquisitions (Financial Sector of the American Economy) - Image 1

£165.79

Routledge Corporate Cash Management, Excess Cash, and Acquisitions (Financial Sector of the American Economy)

Name: Corporate Cash Management, Excess Cash, and Acquisitions (Financial Sector of the American Economy)
Brand: Routledge
Price: 165.79 GBP
Availability: InStock

Budgetary & Cost

It has never been this cheap. We have no record of a lower price.

£166 today · cheaper than every other day in the last 3 months

NEW HERE?

Amazon shows you one price. We show you all of them.

Tosheroon watches Amazon prices so you don't have to. Every product on Amazon has a price history — we make it visible. Set the price you'd actually pay, and we'll email you the second it gets there. No app, no account, one email.

WHAT'S ON THIS PAGE

↓ Price chart
when this has been cheap or pricey

↓ Forecast
where the price is heading next

↓ Statistics
all-time high & low, recent range

↑ Price alert
name your number, we'll email you

Price History & Forecast

Grey patches = out of stock. Cheaper = lower on the chart. Hover for exact prices.

Last 18 days • 18 data points (No recent data available)

Historical

Generating forecast...

Price Distribution

Price distribution over 18 days • 1 price levels

Days at Price

Price Analysis

Most common price: £166 (18 days, 100.0%)

Price range: £166 - £166

Price levels: 1 different prices over 18 days

Description

How much cash should a corporation have and should we worry when they have too much? This question has been hotly debated by manager and investors recently because managers of many of America's leading corporations have chosen to keep the spoils of the long economic expansion rather than return them to investors. As corporate cash coffers burst at the seems, some topping $20 billion, should investors worry about what managers will do with the cash when they finally decide to spend it? This study tackles these and other questions related to corporate cash reserves. After developing a benchmark for the appropriate amount of cash a corporation in a given industry needs to fund its investments and survive an economic downturn, a group of cash-rich corporations are not only more acquisitive than other corporations, but they also tend to make poor acquisition choices, effectively squandering part of their cash reserves. The stock price reaction to acquisition announcements by cash-rich firms is significantly more negative than the reaction to announcements by other firms. The performance of the cash-rich acquirer declines following the acquisition, realizing the expectations of the stock market. Overall, cash-rich firms destroy 7 cents of value for every excess dollar of cash reserves they hold, effectively receiving 93 cents on the dollar! This study documents that not only do managers tend to squander their stockpiles of cash, but also they are able to use this cash to deter any attempt to wrest control of the corporation from their hands. The message for investors and board members to be wary of cash stockpiles is clear.

Product Specifications

Brand: Routledge
Format: hardcover
ASIN: 0815335520
Category: Books > Subjects > Business, Finance & Law > Accounting > Specialities > Budgetary & Cost
Domain: Amazon UK
Release Date: 20 December 1999
Listed Since: 16 February 2007

Barcode

No barcode data available

Routledge Corporate Cash Management, Excess Cash, and Acquisitions (Financial Sector of the American Economy)

It has never been this cheap. We have no record of a lower price.

Price History & Forecast

Price Distribution

Price Analysis

Description

Product Specifications

Barcode

Similar Products You Might Like

Short-Term Financial Management

Cognella Short-Term Financial Management - 6th Edition

Finance for Executives: A Practical Guide for Managers

Finance for Executives: A Practical Guide for Managers

Advances in Working Capital Management: 4

Capital Allocation and Value Creation: A Market-Based Framework for Executives

Techniques of Financial Analysis w/ Financial Genome Passcode Card (Techniques of Financial Analysis: A Guide to Value Creation)

A Cross-Industry Analysis of Financial Ratios: Comparabilities and Corporate Performance

Advances in Working Capital Management: A Research Annual: 2

The Handbook of Global Corporate Treasury (Wiley Corporate F&A)

Corporate Finance: Principles and Practice

Corporate Finance: The Basics

Essentials of Managing Treasury: 33 (Essentials Series)

Corporate Finance: Fundamentals of Value and Price (Springer Texts in Business and Economics)

Gewinne oder Cash Flows als Basis von monetären Management-Anreizsystemen als Bestandteil wertorientierter Unternehmensführung

Corporate Finance: The Core, Global Edition

Corporate Finance and Investment: Decisions and Strategies

Essentials of Corporate Finance + Self Study CD-ROM + PowerWeb

Handbook of Empirical Corporate Finance: Empirical Corporate Finance (Handbooks in Finance): Volume 2

Cash Management: Products and Strategies (Frank J. Fabozzi Series)

Financial Management: Partner in Driving Performance and Value (Wiley Finance)

Konzernbezogene Unternehmensbewertung: DCF-orientierte Konzern- und Segmentbewertung unter Berücksichtigung der Besteuerung (Schriften zum Steuer-, Rechnungs- und Prüfungswesen)

Handbook of Empirical Corporate Finance: Empirical Corporate Finance

Financial Steering: Valuation, KPI Management and the Interaction with IFRS