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What is Cross-Border Regulatory Cooperation and Cash Holdings about?

This study examines the impact of cross-border regulatory cooperation, specifically the Multilateral Memorandum of Understanding (MMoU), on cash holdings of US-listed foreign firms. Findings indicate that these firms significantly reduce their cash holdings after their home countries sign the MMoU, suggesting that increased SEC enforcement discourages corporate insiders from hoarding cash for personal benefits. The reduction is more pronounced in firms from countries with weaker governance, highlighting the

Author

Nguyễn Hà Phước Trọng

Language

EN