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Precautionary-motive and agency reasons for corporate cash management Bates, Kahle, and Stulz (JF 2009) empirically find that public firms have doubled t
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President Trump escalates the current Sino-American trade war by imposing 25% tariffs on $200 billion Chinese imports. These tariffs encompass chemical prod
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Uniform field theory of corporate finance While the agency and precautionary-motive stories are complementary, these stories can be nested as special cas
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