[65], the ratio of cash and cash equivalents to total assets was used as an indicator of the size of cash holdings. In addition, in the robustness test section, we re-examined the impact of digital finance on cash holdings by using the ratio of cash and cash equivalents to net assets ...
3.2. Variables and Research Models This paper investigates whether Hofstede’s cultural dimensions can be used as an explanatory variables of cash holdings of banks in MENA region. Cash holding percentage in this study is measured through dividing cash and cash equivalents over total assets (current...