...Efstathios Magerakis Purpose This paper examines the role of managerial discretion in the relation between managerial ability on the level of corporate cash. Design/methodology/approach Conjoining the upper echelons theory's premises and the theoretical framework of cash holdings, we posit...

... minority shareholders by mitigating the risk of controlling shareholders' expropriation via cash holdings. Design/methodology/approach The research adopts a configurational approach and empirically conducts a fuzzy set/qualitative comparative analysis on a sample of 268 Italian listed companies...

... be opportunistically used by entrenched managers to gain personal benefits (e.g. high compensation, empire building, tunneling). Consequently, employing cash holdings for opportunistic reasons may cause inefficient management of resources, increasing agency problems in firms (La Rocca and Cambrea, 2019...