...Chhavi Jain; Jijo Lukose PJ; Nemiraja Jadiyappa Purpose We investigate the cash holding of business group ( BG ) firms in response to a regulation that restricts the fund flow within the internal capital market ( ICM ) of group firms. We leverage BG firms' heterogeneity to understand...

... that this relation holds only for those firms which are exposed to higher agency problems, for firms affiliated to business groups and for firms operating in high litigation risk industries. Finally, the authors show that cross-listed firms complying with the mandatory CSR expenditure command more valuation premiums...

... Business groups Corporate cash holding G21 G23 G31 G34 Cash is the lifeline of a firm. Firms accumulate cash for their transaction, precautionary and speculative motives to avoid costly external financing (Habib and Hasan, 2017 ; Chauhan et al., 2018 ; Al-dhamari and Ku Ismail...