Insights from Corporate Cash Holdings in Emerging Markets

Corporate savings has become a significant issue in

contemporary international debates. Several studies have

stressed the pros and cons of corporate cash holding in

developed countries. As for the developing countries, the

literature for the topic is scarce which contradicts to the

significance of the topic due to the growing economic activities

of Brazil, Russia, India and China (BRIC) and Turkey. This

study proposes to highlight this issue for firms operating in BRIC

countries and Turkey by determining corporate cash holding

across different firm sizes and industries. The sample contains

5.840 firm-year observations across these countries for the

period 2005–2014. Findings provide support for the notion that

related firms is under financial constraint and propose to hold

more cash within precautionary motive for cash management.

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