Real option component of cash holdings, business cycle, and stock returns

Chen, J.Jia, Z.Sun, P.2017-09-202017-09-202016International Review of Financial Analysis, 2016; 45:97-1061057-5219http://hdl.handle.net/2440/107897Abstract not availableen© 2016 Elsevier Inc. All rights reserved.Cash holdings; real option; factor model; GDP growth rateReal option component of cash holdings, business cycle, and stock returnsJournal article003004656010.1016/j.irfa.2016.03.0082-s2.0-84961880388243181