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Determinants of Cash Holdings in GCC Region
Nadeem, Hashim
Nadeem, Hashim
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Abstract
This dissertation investigates the firm-level financial determinants of corporate cash holdings in the Gulf Cooperation Council (GCC) region, addressing a significant gap in the literature concerning the unique economic and institutional context of these oil-dependent, financially segmented economies. Drawing on theories such as trade-off, pecking order, agency, and precautionary motives, the study emphasizes the need for a nuanced, region-specific approach to understanding liquidity management. Using annual data from 14 publicly listed GCC firms between 2006 and 2022, the research employs a robust econometric model to analyze the impact of detailed financial statement variables including operating expenses, net income available to common shareholders (adjusted), cash from operating activities, total assets, total liabilities, working capital, and equity before minority interest on cash-holding behavior.