Table 5 Causal configurations for cash...

Table 5

Causal configurations for cash holdings

Conditions	Configurations
Conditions	1	2	3
Board size			•
Board activity (frequency)		•
Board activity (duration)		◦
Board composition
Board independence	•
Board diversity		•
CEO duality			◦
Audit committee composition
Audit committee independence
Audit committee activity (frequency)	•	•
Audit committee activity (duration)	◦	◦
Compensation committee composition
Compensation committee independence
Compensation committee activity (frequency)
Compensation committee activity
Nomination committee composition
Nomination committee independence
Nomination committee activity (frequency)
Nomination committee activity (duration)
Family ownership concentration	◦		•
Raw coverage	0.347	0.312	0.369
Consistency	0.925	0.907	0.966
Solution coverage	0.535
Solution consistency	0.924

Conditions	Configurations
Conditions	1	2	3
Board size			•
Board activity (frequency)		•
Board activity (duration)		◦
Board composition
Board independence	•
Board diversity		•
CEO duality			◦
Audit committee composition
Audit committee independence
Audit committee activity (frequency)	•	•
Audit committee activity (duration)	◦	◦
Compensation committee composition
Compensation committee independence
Compensation committee activity (frequency)
Compensation committee activity
Nomination committee composition
Nomination committee independence
Nomination committee activity (frequency)
Nomination committee activity (duration)
Family ownership concentration	◦		•
Raw coverage	0.347	0.312	0.369
Consistency	0.925	0.907	0.966
Solution coverage	0.535
Solution consistency	0.924

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