Browsing BI Open by Author "Sørensen, Bent E."
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The Marginal Value of Cash, Cash Flow Sensitivities, and Bank-Finance Shocks in Nonlisted Firms
Ostergaard, Charlotte; Sasson, Amir; Sørensen, Bent E. (Journal article; Peer reviewed, 2020)We study how small firms manage cash flows by estimating cash flow sensitivities for all sources and uses of cash. Our data are Norwegian non-listed firms which can be matched to the banks they borrow from. Firms with low ... -
The marginal value of cash, cash flow sensitivities and bank-finance shocks in nonlisted firms
Ostergaard, Charlotte; Sasson, Amir; Sørensen, Bent E. (CCGR Working Paper;1/2011, Working paper, 2011)We study how nonlisted firms trade off financial, real, and distributive uses of cash. We show that firms' marginal value of cash (MVC) affects the mix of external and internal finance used to absorb fluctuations in cash ...