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Correlated performance of firms in a transaction network

✍ Scribed by Yuichi Ikeda; Hideaki Aoyama; Hiroshi Iyetomi; Yoshi Fujiwara; Wataru Souma

Book ID
106578577
Publisher
Springer-Verlag
Year
2008
Tongue
English
Weight
586 KB
Volume
3
Category
Article
ISSN
1860-711X

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## Abstract While both financial and behavioral theories suggest that cash holdings may be beneficial to R&D‐intensive firms, agency theory would suggest that strong monitoring may be needed to ensure that cash holdings are not squandered. We contend that transaction cost economics provides a valua