Cash holdings, board governance characteristics, and Egyptian firms’ performance

References

• Abdelazim, S. I., Metwally, A. B. M., & Aly, S. A. S. (2023). Firm characteristics and forward-looking disclosure: the moderating role of gender diversity. Journal of Accounting in Emerging Economies, 13(5), 1–19. https://doi.org/10.1108/JAEE-04-2022-0115
   Web of Science ®Google Scholar
• Abdulsamad, A. O., Yusoff, W. F. W., & Lasyoud, A. A. (2018). The influence of the board of directors’ characteristics on firm performance: Evidence from Malaysian public listed companies. Corporate Governance and Sustainability Review, 2(1), 6–13. https://doi.org/10.22495/cgsrv2i1p1
   Google Scholar
• Abid, A., Gull, A. A., Hussain, N., & Nguyen, D. K. (2021). Risk governance and bank risk-taking behavior: Evidence from Asian banks. Journal of International Financial Markets, Institutions and Money, 75, 101466. https://doi.org/10.1016/j.intfin.2021.101466
   Web of Science ®Google Scholar
• Abodoma, N. (2018). The financial and corporate governance determinants of corporate cash holdings: Evidence from Egypt. University of Northumbria at Newcastle.
   Google Scholar
• Adams, J., & Metwally, A. (2019). Identifying currency crises indicators: The case of Egypt. African Journal of Economic and Management Studies, 10(2), 241–259. https://doi.org/10.1108/AJEMS-06-2018-0156
   Web of Science ®Google Scholar
• Afrifa, G. A., & Tauringana, V. (2015). Corporate governance and performance of UK listed small and medium enterprises. Corporate Governance, 15(5), 719–733. https://doi.org/10.1108/CG-03-2015-0029
   Web of Science ®Google Scholar
• Agyei-Mensah, B. K. (2021). The impact of board characteristics on corporate investment decisions: an empirical study. Corporate Governance: The International Journal of Business in Society, 21(4), 569–586. https://doi.org/10.1108/CG-04-2020-0125
   Web of Science ®Google Scholar
• Alhossini, M. A., Ntim, C. G., & Zalata, A. M. (2021). Corporate board committees and corporate outcomes: An international systematic literature review and agenda for future research. The International Journal of Accounting, 56(01), 2150001. https://doi.org/10.1142/S1094406021500013
   Google Scholar
• Ali, M. (2020). Determinants and consequences of board size: Conditional indirect effects. Corporate Governance: The International Journal of Business in Society, 18(1), 165–184. https://doi.org/10.1108/CG-01-2016-0011
   Google Scholar
• Almeida, H., Campello, M., & Weisbach, M. S. (2004). The cash flow sensitivity of cash. The Journal of Finance, 59(4), 1777–1804. https://doi.org/10.1111/j.1540-6261.2004.00679.x
   Web of Science ®Google Scholar
• Al-Najjar, B. (2013). The financial determinants of corporate cash holdings: Evidence from some emerging markets. International Business Review, 22(1), 77–88. https://doi.org/10.1016/j.ibusrev.2012.02.004
   Web of Science ®Google Scholar
• Al-Najjar, B., & Clark, E. (2017). Corporate governance and cash holdings in MENA: Evidence from internal and external governance practices. Research in International Business and Finance, 39, 1–12. https://doi.org/10.1016/j.ribaf.2016.07.030
   Web of Science ®Google Scholar
• Alnori, F. (2020). Cash holdings: Do they boost or hurt firms’ performance? Evidence from listed non-financial firms in Saudi Arabia. International Journal of Islamic and Middle Eastern Finance and Management, 13(5), 919–934. https://doi.org/10.1108/IMEFM-08-2019-0338
   Web of Science ®Google Scholar
• Amin, A., Ali, R., Ur Rehman, R., & Ntim, C. G. (2023). CEO personal characteristics and firms’ risk-taking behaviour: The moderating role of family ownership. Gender in Management: An International Journal. https://doi.org/10.1108/GM-02-2022-0034
   Web of Science ®Google Scholar
• Anderson, R. C., Mansi, S. A., & Reeb, D. M. (2004). Board characteristics, accounting report integrity, and the cost of debt. Journal of Accounting and Economics, 37(3), 315–342. https://doi.org/10.1016/j.jacceco.2004.01.004
   Web of Science ®Google Scholar
• Andoh, J. A. N., Abugri, B. A., & Anarfo, E. B. (2023). Board Characteristics and performance of listed firms in Ghana. Corporate Governance: The International Journal of Business in Society, 23(1), 43–71. https://doi.org/10.1108/CG-08-2020-0344
   Web of Science ®Google Scholar
• Arora, A., & Sharma, C. (2016). Corporate governance and firm performance in developing countries: Evidence from India. Corporate Governance, 16(2), 420–436. https://doi.org/10.1108/CG-01-2016-0018
   Web of Science ®Google Scholar
• Asante-Darko, D., Adu Bonsu, B., Famiyeh, S., Kwarteng, A., & Goka, Y. (2018). Governance structures, cash holdings and firm value on the Ghana Stock Exchange. Corporate Governance: The International Journal of Business in Society, 18(4), 671–685. https://doi.org/10.1108/CG-07-2017-0148
   Web of Science ®Google Scholar
• Ashhari, Z., & Faizal, D.-R. (2018). Determinants and performance of cash holding: Evidence from small business in Malaysia. International Journal of Economics, Management, Accounting & Finance, 26(2), 457–473.
   Google Scholar
• Banjade, D., & Diltz, J. D. (2022). Excess cash holdings and firm performance in new and old economy firms. The Quarterly Review of Economics and Finance, 86, 124–133. https://doi.org/10.1016/j.qref.2022.06.006
   Web of Science ®Google Scholar
• Bates, T. W., Kahle, K. M., & Stulz, R. M. (2009). Why do U.S. firms hold so much more cash than they used to? The Journal of Finance, 64(5), 1985–2021. https://doi.org/10.1111/j.1540-6261.2009.01492.x
   Web of Science ®Google Scholar
• Bhat, K. U., Chen, Y., Jebran, K., & Bhutto, N. A. (2018). Corporate governance and firm value: A comparative analysis of state and non-state owned companies in the context of Pakistan. Corporate Governance: The International Journal of Business in Society, 18(6), 1196–1206. https://doi.org/10.1108/CG-09-2017-0208
   Google Scholar
• Boyd, B. K. (1995). CEO duality and firm performance: A contingency model. Strategic Management Journal, 16(4), 301–312. https://doi.org/10.1002/smj.4250160404
   Web of Science ®Google Scholar
• Bravo, F., Abad, C., & Briones, J. L. (2015). The board of directors and corporate reputation: An empirical analysis. Academia Revista Latinoamericana de Administración, 28(3), 359–379. https://doi.org/10.1108/ARLA-07-2013-0096
   Web of Science ®Google Scholar
• Darko, J., Aribi, Z. A., & Uzonwanne, G. C. (2016). Corporate governance: The impact of director and board structure, ownership structure and corporate control on the performance of listed companies on the Ghana stock exchange. Corporate Governance, 16(2), 259–277. https://doi.org/10.1108/CG-11-2014-0133
   Google Scholar
• Diab, A., & Metwally, A. B. M. (2020). Institutional complexity and CSR practices: Evidence from a developing country. Journal of Accounting in Emerging Economies, 10(4), 655–680. https://doi.org/10.1108/JAEE-11-2019-0214
   Web of Science ®Google Scholar
• Diab, A., Abdelazim, S. I., & Metwally, A. B. M. (2023). The impact of institutional ownership on the value relevance of accounting information: Evidence from Egypt. Journal of Financial Reporting and Accounting, 21(3), 509–525. https://doi.org/10.1108/JFRA-05-2021-0130
   Web of Science ®Google Scholar
• Dimitropoulos, P., Koronios, K., Thrassou, A., & Vrontis, D. (2020). Cash holdings, corporate performance and viability of Greek SMEs. EuroMed Journal of Business, 15(3), 333–348. https://doi.org/10.1108/EMJB-08-2019-0104
   Web of Science ®Google Scholar
• Dittmar, A., & Mahrt-Smith, J. (2007). Corporate governance and the value of cash holdings. Journal of Financial Economics, 83(3), 599–634. https://doi.org/10.1016/j.jfineco.2005.12.006
   Web of Science ®Google Scholar
• Dittmar, A., Mahrt-Smith, J., & Servaes, H. (2003). International corporate governance and corporate cash holdings. The Journal of Financial and Quantitative Analysis, 38(1), 111–133. https://doi.org/10.2307/4126766
   Web of Science ®Google Scholar
• Duru, A., Iyengar, R. J., & Zampelli, E. M. (2016). The dynamic relationship between CEO duality and firm performance: The moderating role of board independence. Journal of Business Research, 69(10), 4269–4277. https://doi.org/10.1016/j.jbusres.2016.04.001
   Web of Science ®Google Scholar
• Elewa, M. M., & Mahmoud, N. H. M. (2023). The impact of inflation and exchange rates on generating power of cash in Egypt (panel data analysis). Journal of Accounting Research, Organization and Economics, 6(2), 183–194. https://doi.org/10.24815/jaroe.v6i2.32069
   Google Scholar
• El-Halaby, S., Abdelrasheed, H., & Hussainey, K. (2021). Corporate cash holdings and national culture: Evidence from the Middle East and North Africa region. Journal of Risk and Financial Management, 14(10), 475. https://doi.org/10.3390/jrfm14100475
   Web of Science ®Google Scholar
• Fariha, R., Hossain, M. M., & Ghosh, R. (2022). Board characteristics, audit committee attributes and firm performance: Empirical evidence from emerging economy. Asian Journal of Accounting Research, 7(1), 84–96. https://doi.org/10.1108/AJAR-11-2020-0115
   Google Scholar
• Frésard, L., & Salva, C. (2010). The value of excess cash and corporate governance: Evidence from US cross-listings. Journal of Financial Economics, 98(2), 359–384. https://doi.org/10.1016/j.jfineco.2010.04.004
   Web of Science ®Google Scholar
• Gao, H., Harford, J., & Li, K. (2013). Determinants of corporate cash policy: Insights from private firms. Journal of Financial Economics, 109(3), 623–639. https://doi.org/10.1016/j.jfineco.2013.04.008
   Web of Science ®Google Scholar
• García Martín, C. J., & Herrero, B. (2018). Boards of directors: Composition and effects on the performance of the firm. Economic Research-Ekonomska Istraživanja, 31(1), 1015–1041. https://doi.org/10.1080/1331677X.2018.1436454
   Web of Science ®Google Scholar
• Ghaly, M., Dang, V. A., & Stathopoulos, K. (2015). Cash holdings and employee welfare. Journal of Corporate Finance, 33, 53–70. https://doi.org/10.1016/j.jcorpfin.2015.04.003
   Web of Science ®Google Scholar
• Gull, A. A., Abid, A., Hussainey, K., Ahsan, T., & Haque, A. (2023). Corporate governance reforms and risk disclosure quality: Evidence from an emerging economy. Journal of Accounting in Emerging Economies, 13(2), 331–354. https://doi.org/10.1108/JAEE-11-2021-0378
   Web of Science ®Google Scholar
• Habib, A., Monzur Hasan, M., & Al-Hadi, A. (2017). Financial statement comparability and corporate cash holdings. Journal of Contemporary Accounting & Economics, 13(3), 304–321. https://doi.org/10.1016/j.jcae.2017.10.001
   Web of Science ®Google Scholar
• Harford, J., Mansi, S. A., & Maxwell, W. F. (2008). Corporate governance and firm cash holdings in the US. Journal of Financial Economics, 87(3), 535–555. https://doi.org/10.1016/j.jfineco.2007.04.002
   Web of Science ®Google Scholar
• Hassaan, M., & Salah, W. (2023). Corporate governance, financial transparency and currency devaluation shocks: Evidence from Egypt. Corporate Governance: The International Journal of Business in Society, 23(6), 1251–1267. https://doi.org/10.1108/CG-09-2022-0386
   Web of Science ®Google Scholar
• Issa, A., & Fang, H.-X. (2019). The impact of board gender diversity on corporate social responsibility in the Arab Gulf states. Gender in Management: An International Journal, 34(7), 577–605. https://doi.org/10.1108/GM-07-2018-0087
   Web of Science ®Google Scholar
• Issa, A., & Zaid, M. A. A. (2021). Boardroom gender diversity and corporate environmental performance: a multi-theoretical perspective in the MENA region. International Journal of Accounting & Information Management, 29(4), 603–630. https://doi.org/10.1108/IJAIM-05-2021-0101
   Web of Science ®Google Scholar
• Issa, A., Yousef, H., Bakry, A., Hanaysha, J. R., & Sahyouni, A. (2021). Does the board diversity impact bank performance in the MENA countries? A multilevel study. Corporate Governance: The International Journal of Business in Society, 21(5), 865–891. https://doi.org/10.1108/CG-06-2020-0222
   Web of Science ®Google Scholar
• Jabbouri, I., & Almustafa, H. (2021). Corporate cash holdings, firm performance and national governance: Evidence from emerging markets. International Journal of Managerial Finance, 17(5), 783–801. https://doi.org/10.1108/IJMF-07-2020-0342
   Web of Science ®Google Scholar
• Jensen, M. C. (1986). Agency costs of free cash flow, corporate finance, and takeovers. The American Economic Review, 76(2), 323–329.
   Web of Science ®Google Scholar
• Jensen, M. C., & Meckling, W. H. (1976). Theory of the firm: Managerial behavior, agency costs and ownership structure. Journal of Financial Economics, 3(4), 305–360. https://doi.org/10.1016/0304-405X(76)90026-X
   Web of Science ®Google Scholar
• Ji, A. (2016). The impact of board size on firm-level capital investment efficiency. International Journal of Economics and Finance, 8(10), 110–120. https://doi.org/10.5539/ijef.v8n10p110
   Google Scholar
• Keynes, J. M. (1936). The general theory of interest, employment and money. MacMillan.
   Google Scholar
• Khatib, S. F. A. (2023). The role of share repurchases for firms’ social and environmental sustainability. Social and Environmental Accountability Journal, 1–3. https://doi.org/10.1080/0969160X.2023.2281904
   Google Scholar
• Khatib, S. F. A., Abdullah, D. F., Hendrawaty, E., & Elamer, A. A. (2022). A bibliometric analysis of cash holdings literature: Current status, development, and agenda for future research. Management Review Quarterly, 72(3), 707–744. https://doi.org/10.1007/s11301-021-00213-0
   Google Scholar
• Kim, J., Woods, D., & Kim, H. (2013). Identifying the financial characteristics of cash-rich and cash-poor restaurant firms: A logistic regression analysis. Tourism Economics, 19(3), 583–598. https://doi.org/10.5367/te.2013.0217
   Web of Science ®Google Scholar
• Kim, O., Kuang, Y. F., & Qin, B. (2020). Female representation on boards and CEO performance-induced turnover: Evidence from Russia. Corporate Governance: An International Review, 28(3), 235–260. https://doi.org/10.1111/corg.12316
   Web of Science ®Google Scholar
• La Rocca, M., & Cambrea, D. R. (2019). The effect of cash holdings on firm performance in large Italian companies. Journal of International Financial Management & Accounting, 30(1), 30–59. https://doi.org/10.1111/jifm.12090
   Web of Science ®Google Scholar
• Lian, C., & Ma, Y. (2021). Anatomy of corporate borrowing constraints. The Quarterly Journal of Economics, 136(1), 229–291. https://doi.org/10.1093/qje/qjaa030
   Web of Science ®Google Scholar
• Lin, T.-J., Chang, H.-Y., Yu, H.-F., & Kao, C.-P. (2019). The impact of political connections and business groups on cash holdings: Evidence from Chinese listed firms. Global Finance Journal, 40, 65–73. https://doi.org/10.1016/j.gfj.2018.10.001
   Web of Science ®Google Scholar
• Lu, Y., Ntim, C. G., Zhang, Q., & Li, P. (2022). Board of directors’ attributes and corporate outcomes: A systematic literature review and future research agenda. International Review of Financial Analysis, 84, 102424. https://doi.org/10.1016/j.irfa.2022.102424
   Web of Science ®Google Scholar
• Luo, Q., & Hachiya, T. (2005). Bank relations, cash holdings, and firm value: Evidence from Japan. Management Research News, 28(4), 61–73. https://doi.org/10.1108/01409170510784805
   Google Scholar
• Martínez-Sola, C., García-Teruel, P. J., & Martínez-Solano, P. (2013). Corporate cash holding and firm value. Applied Economics, 45(2), 161–170. https://doi.org/10.1080/00036846.2011.595696
   Web of Science ®Google Scholar
• Martínez-Sola, C., García-Teruel, P. J., & Martínez-Solano, P. (2018). Cash holdings in SMEs: Speed of adjustment, growth and financing. Small Business Economics, 51(4), 823–842. https://doi.org/10.1007/s11187-018-9990-y
   Web of Science ®Google Scholar
• Metwally, A. (2022). The materiality of corporate governance report disclosures: Investigating the perceptions of external auditors working in Egypt. Scientific Journal for Financial and Commercial Studies and Researches, 3(1), 547–582. https://doi.org/10.21608/CFDJ.2021.207396
   Google Scholar
• Metwally, A. B. M., & Diab, A. (2021). Risk-based management control resistance in a context of institutional complexity: Evidence from an emerging economy. Journal of Accounting & Organizational Change, 17(3), 416–435. https://doi.org/10.1108/JAOC-04-2020-0039
   Web of Science ®Google Scholar
• Metwally, A., Mohamed, A., & Ali, S. (2021). The management report usefulness in lending decision: investigating Egyptian credit managers perceptions. Scientific Journal for Financial and Commercial Studies and Researches, 2(1), 1–53. https://doi.org/10.21608/cfdj.2021.129326
   Google Scholar
• Mishra, R. K., & Kapil, S. (2018). Board characteristics and firm value for Indian companies. Journal of Indian Business Research, 10(1), 2–32. https://doi.org/10.1108/JIBR-07-2016-0074
   Web of Science ®Google Scholar
• Mohamed Metwally, A. B. (2017). Risk based management control logics meet geopolitics: A case study from Egypt. University of Glasgow.
   Google Scholar
• Mohamed Zabri, S., Ahmad, K., & Khaw, K. (2016). Corporate governance practices and firm performance: Evidence from top 100 public listed companies in Malaysia. Procedia Economics and Finance, 35, 287–296. https://doi.org/10.1016/S2212-5671(16)00036-8
   Google Scholar
• Morellec, E., & Schürhoff, N. (2011). Corporate investment and financing under asymmetric information. Journal of Financial Economics, 99(2), 262–288. https://doi.org/10.1016/j.jfineco.2010.09.003
   Web of Science ®Google Scholar
• Myers, S. C., & Majluf, N. S. (1984). Corporate financing and investment decisions when firms have information that investors do not have. Journal of Financial Economics, 13(2), 187–221. https://doi.org/10.1016/0304-405X(84)90023-0
   Web of Science ®Google Scholar
• Noguera, M. (2020). Women directors’ effect on firm value and performance: The case of REITs. Corporate Governance: The International Journal of Business in Society, 20(7), 1265–1279. https://doi.org/10.1108/CG-02-2020-0057
   Web of Science ®Google Scholar
• Ntim, C. G., Opong, K. K., & Danbolt, J. (2015). Board size, corporate regulations and firm valuation in an emerging market: A simultaneous equation approach. International Review of Applied Economics, 29(2), 194–220. https://doi.org/10.1080/02692171.2014.983048
   Web of Science ®Google Scholar
• Ntim, C., & Osei, K. (2011). The impact of corporate board meetings on corporate performance in South Africa. African Review of Economics and Finance, 2(2), 83–103.
   Google Scholar
• Otaify, M., Aly, D., & Mohamed, F. (2022). Optimal cash ratio and adjustment speed across different firm characteristics. International Journal of Economics and Financial Issues, 12(3), 73–85. https://doi.org/10.32479/ijefi.13068
   Google Scholar
• Ozkan, A., & Ozkan, N. (2004). Corporate cash holdings: An empirical investigation of UK companies. Journal of Banking & Finance, 28(9), 2103–2134. https://doi.org/10.1016/j.jbankfin.2003.08.003
   Web of Science ®Google Scholar
• Palazzo, B. (2012). Cash holdings, risk, and expected returns. Journal of Financial Economics, 104(1), 162–185. https://doi.org/10.1016/j.jfineco.2011.12.009
   Web of Science ®Google Scholar
• Pinkowitz, L. E. E., Stulz, R., & Williamson, R. (2006). Does the contribution of corporate cash holdings and dividends to firm value depend on governance? A cross-country analysis. The Journal of Finance, 61(6), 2725–2751. https://doi.org/10.1111/j.1540-6261.2006.01003.x
   Web of Science ®Google Scholar
• Pucheta-Martínez, M. C., Bel-Oms, I., & Olcina-Sempere, G. (2018). Female institutional directors on boards and firm value. Journal of Business Ethics, 152(2), 343–363. https://doi.org/10.1007/s10551-016-3265-9
   Web of Science ®Google Scholar
• Puni, A., & Anlesinya, A. (2019). Corporate governance mechanisms and firm performance in a developing country. International Journal of Law and Management, 62(2), 147–169. https://doi.org/10.1108/IJLMA-03-2019-0076
   Web of Science ®Google Scholar
• Ranajee, R., & Pathak, R. (2019). Corporate cash holding during crisis and beyond: What matters the most. International Journal of Managerial Finance, 15(4), 492–510. https://doi.org/10.1108/IJMF-03-2018-0085
   Web of Science ®Google Scholar
• Rashid, M. M. (2020). Ownership structure and firm performance: The mediating role of board characteristics. Corporate Governance: The International Journal of Business in Society, 20(4), 719–737. https://doi.org/10.1108/CG-02-2019-0056
   Web of Science ®Google Scholar
• Rodriguez-Fernandez, M., Fernandez-Alonso, S., & Rodriguez-Rodriguez, J. (2014). Board characteristics and firm performance in Spain. Corporate Governance, 14(4), 485–503. https://doi.org/10.1108/CG-01-2013-0013
   Google Scholar
• Saleh, M. W. A., Zaid, M. A. A., Shurafa, R., Maigoshi, Z. S., Mansour, M., & Zaid, A. (2021). Does board gender enhance Palestinian firm performance? The moderating role of corporate social responsibility. Corporate Governance: The International Journal of Business in Society, 21(4), 685–701. https://doi.org/10.1108/CG-08-2020-0325
   Web of Science ®Google Scholar
• Saona, P., Muro, L., & Alvarado, M. (2020). How do the ownership structure and board of directors’ features impact earnings management? The Spanish case. Journal of International Financial Management & Accounting, 31(1), 98–133. https://doi.org/10.1111/jifm.12114
   Web of Science ®Google Scholar
• Sarhan, A. A., Ntim, C. G., & Al-Najjar, B. (2019). Board diversity, corporate governance, corporate performance, and executive pay. International Journal of Finance & Economics, 24(2), 761–786. https://doi.org/10.1002/ijfe.1690
   Web of Science ®Google Scholar
• Sayed, E., & Khalil, M. (2022). Cash holding and bankruptcy risk in Egyptian firms: The moderating effect of corporate social responsibility. Journal of Economic and Administrative Sciences. https://doi.org/10.1108/JEAS-02-2022-0049
   Web of Science ®Google Scholar
• Suherman, S., Usman, B., Mahfirah, T. F., & Vesta, R. (2021). Do female executives and CEO tenure matter for corporate cash holdings? Insight from a Southeast Asian country. Corporate Governance: The International Journal of Business in Society, 21(5), 939–960. https://doi.org/10.1108/CG-07-2020-0290
   Web of Science ®Google Scholar
• Terjesen, S., Couto, E. B., & Francisco, P. M. (2016). Does the presence of independent and female directors impact firm performance? A multi-country study of board diversity. Journal of Management & Governance, 20(3), 447–483. https://doi.org/10.1007/s10997-014-9307-8
   Web of Science ®Google Scholar
• Tran, H. T. (2021). The link between independent directors and firm’s performance: the moderating role of corporate social responsibility. Corporate Governance: The International Journal of Business in Society, 21(5), 831–844. https://doi.org/10.1108/CG-05-2020-0176
   Web of Science ®Google Scholar
• Tran, Q. T. (2020). Financial crisis, shareholder protection and cash holdings. Research in International Business and Finance, 52, 101131. https://doi.org/10.1016/j.ribaf.2019.101131
   Web of Science ®Google Scholar
• Ullah, I., Fang, H., & Jebran, K. (2019). Do gender diversity and CEO gender enhance firm’s value? Evidence from an emerging economy. Corporate Governance: The International Journal of Business in Society, 20(1), 44–66. https://doi.org/10.1108/CG-03-2019-0085
   Web of Science ®Google Scholar
• Wang, Y., Abbasi, K., Babajide, B., & Yekini, K. C. (2019). Corporate governance mechanisms and firm performance: Evidence from the emerging market following the revised CG code. Corporate Governance: The International Journal of Business in Society, 20(1), 158–174. https://doi.org/10.1108/CG-07-2018-0244
   Web of Science ®Google Scholar
• Yun, J., Ahmad, H., Jebran, K., & Muhammad, S. (2021). Cash holdings and firm performance relationship: Do firm-specific factors matter? Economic Research-Ekonomska Istraživanja, 34(1), 1283–1305. https://doi.org/10.1080/1331677X.2020.1823241
   Web of Science ®Google Scholar