OPPORTUNITY COST ARE A KEY TO CASH PUZZLE OF THE COMPANY

Features of influence of opportunity cost on the cash policy of the Russian companies are considered. The author analyzes relationship of cause and effect of escalating of cash. The author researched features of a choice the Russian companies of sources of financing. The author shows that availabili...

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Autor principal:	S. I. Lutsenko
Formato:	article
Lenguaje:	RU
Publicado:	Real Economics Publishing House 2015
Materias:	opportunity cost cash investment adverse selection precautionary motive shock Risk in industry. Risk management HD61
Acceso en línea:	https://doaj.org/article/2cedfb0ef48a47b5b5fdcb29f578bfbb
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spelling	oai:doaj.org-article:2cedfb0ef48a47b5b5fdcb29f578bfbb2021-11-19T10:41:58ZOPPORTUNITY COST ARE A KEY TO CASH PUZZLE OF THE COMPANY2618-947X2618-998410.17747/2078-8886-2015-1-98-105https://doaj.org/article/2cedfb0ef48a47b5b5fdcb29f578bfbb2015-04-01T00:00:00Zhttps://www.jsdrm.ru/jour/article/view/445https://doaj.org/toc/2618-947Xhttps://doaj.org/toc/2618-9984Features of influence of opportunity cost on the cash policy of the Russian companies are considered. The author analyzes relationship of cause and effect of escalating of cash. The author researched features of a choice the Russian companies of sources of financing. The author shows that availability of opportunity costs forces the companies to be reoriented on internal sources of financing. Opportunity costs are the indicator for a choice of optimum financing. The model (specification) presented in work is tested for determination of its adequacy, from the point of view of quality of forecasting. It is estimated three kinds of specifications: pooled regression, regression with a random effect and regression with the fixed effect. The purpose of work attempt to open cash puzzle of company disclosing of a puzzle. That is, to reduce opportunity costs for preserving of cash as the preventive motive, allowing to struggle with financial restrictions. Novelty of the presented work consists that the companies can rationally manage cash holdings, using negative shocks (signals) in the capital market, to expect them and without supposing the situations connected with financial restrictions.S. I. LutsenkoReal Economics Publishing House articleopportunity costcashinvestmentadverse selectionprecautionary motiveshockRisk in industry. Risk managementHD61RU Strategičeskie Rešeniâ i Risk-Menedžment, Vol 0, Iss 1, Pp 98-105 (2015)
institution	DOAJ
collection	DOAJ
language	RU
topic	opportunity cost cash investment adverse selection precautionary motive shock Risk in industry. Risk management HD61
spellingShingle	opportunity cost cash investment adverse selection precautionary motive shock Risk in industry. Risk management HD61 S. I. Lutsenko OPPORTUNITY COST ARE A KEY TO CASH PUZZLE OF THE COMPANY
description	Features of influence of opportunity cost on the cash policy of the Russian companies are considered. The author analyzes relationship of cause and effect of escalating of cash. The author researched features of a choice the Russian companies of sources of financing. The author shows that availability of opportunity costs forces the companies to be reoriented on internal sources of financing. Opportunity costs are the indicator for a choice of optimum financing. The model (specification) presented in work is tested for determination of its adequacy, from the point of view of quality of forecasting. It is estimated three kinds of specifications: pooled regression, regression with a random effect and regression with the fixed effect. The purpose of work attempt to open cash puzzle of company disclosing of a puzzle. That is, to reduce opportunity costs for preserving of cash as the preventive motive, allowing to struggle with financial restrictions. Novelty of the presented work consists that the companies can rationally manage cash holdings, using negative shocks (signals) in the capital market, to expect them and without supposing the situations connected with financial restrictions.
format	article
author	S. I. Lutsenko
author_facet	S. I. Lutsenko
author_sort	S. I. Lutsenko
title	OPPORTUNITY COST ARE A KEY TO CASH PUZZLE OF THE COMPANY
title_short	OPPORTUNITY COST ARE A KEY TO CASH PUZZLE OF THE COMPANY
title_full	OPPORTUNITY COST ARE A KEY TO CASH PUZZLE OF THE COMPANY
title_fullStr	OPPORTUNITY COST ARE A KEY TO CASH PUZZLE OF THE COMPANY
title_full_unstemmed	OPPORTUNITY COST ARE A KEY TO CASH PUZZLE OF THE COMPANY
title_sort	opportunity cost are a key to cash puzzle of the company
publisher	Real Economics Publishing House
publishDate	2015
url	https://doaj.org/article/2cedfb0ef48a47b5b5fdcb29f578bfbb
work_keys_str_mv	AT silutsenko opportunitycostareakeytocashpuzzleofthecompany
_version_	1718420183313285120

OPPORTUNITY COST ARE A KEY TO CASH PUZZLE OF THE COMPANY

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