| dc.description.abstract | This study examines the determinants of cash holding, looking at 55 industrial
firms listed on Ho Chi Minh Stock Exchange (2013-2022), and using fixed regression with
cluster – robust standard errors. The study's findings imply that the applied theories, which
are trade-off theory, pecking order theory, and free cash flow theory are in play for the
Vietnamese sample. The study shows that liquid asset substitutes and capital expenditures
negatively affect, while financial distress positively affects the cash level. On the other
hand, firm size and dividend payment only have significance in the small sector sample
and size-classification sample, while leverage and profitability do not show any significant
result. Besides, by identifying the variables impacting cash holdings, this study contributes
further knowledge to the field of cash management in particular. Results from this study
might be useful to both insiders and outsiders when making decisions. | en_US |
