Employment protection laws and corporate cash holdings
We study how employment protection laws (EPLs) affect corporate cash-holding decision. By exploiting within-country changes in EPLs across 20 OECD countries as a source of variation in labor adjustment costs, we show that following an increase in the stringency of EPLs, firms’ cash holdings increase...
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| Main Authors: | , , |
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| Format: | Default Article |
| Published: |
2019
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| Subjects: | |
| Online Access: | https://hdl.handle.net/2134/11303663.v1 |
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