Book Title: Innovative Approaches in Multidisciplinary Research and Development (IAMRD)
Chief Editors: Dr. Anil Kashinath Salunke and Dr. Rituraj Pant
Associate Editors: Prof. (Dr.) Sourav Madhur Dey and Dr. Amrutha Satheesan
Co-Editors: Dr. Souvik Sur and Dr. Phakir Singh
ISBN: 978-93-7183-004-1
Chapter: 28
DOI: https://doi.org/10.59646/708/28
Authors: Rashid Mehmood, Ilyas Ahmad, and Rana Tahir Naveed
Abstract
The presence of concentrated ownership fosters monitoring over management while encouraging them to maintain adequate cash holdings. The purpose of present study is to evaluate the impact of concentrated ownership on cash holdings of non-financial listed firms of Pakistan. While taking the sample of 103 firms from textile sector for the time period that ranges from 2015 to 2024, the study employs fixed effect model to analyze the data. The findings of the study indicate that when firms have more concentrated ownership, they have more cash reserves, suggesting that concentrated owners play significant role in shaping liquidity policies of firms.
Keywords: ownership concentration, cash holdings, non-financial sector, textile firms, fixed-effect model