Human capital quality and cash holdings

被引：0

作者：

Damle, Harshali ^{[1
]}

Sinha, Rajesh Kumar ^{[2
]}

机构：

[1] Indian Inst Management Bangalore, Bengaluru, India

[2] XLRI Xavier Sch Management, Jamshedpur, India

来源：

JOURNAL OF CONTEMPORARY ACCOUNTING & ECONOMICS | 2024年 / 20卷 / 03期

关键词：

Cash holdings; Human Capital; Chief Diversity Officer; CORPORATE; LABOR; HETEROGENEITY; COSTS;

D O I：

10.1016/j.jcae.2024.100437

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

In this paper, we examine whether human capital quality affects firms' cash holdings. Using a sample of U.S. firms from 1980 to 2022, we find that a one standard deviation increase in human capital quality is associated with an increase of 0.053 in the cash-to-total assets ratio. We also explore two channels-skilled labour risk and agency costs-through which human capital quality affects cash holdings. Further, using the hiring of a chief diversity officer as a proxy for a diverse and inclusive workforce, we find that firms that hire chief diversity officers have higher cash holdings.

引用

页数：18

共 35 条

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