RDP 2016-03: Why Do Companies Hold Cash?
Equation (4)
Δ
C
A
S
H
i
t
j
=
β
C
A
S
H
F
L
O
W
i
t
j
+
γ
C
O
N
T
R
O
L
S
i
t
j
+
α
i
j
+
ε
i
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j
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