The Evolving Landscape of Corporate Cash Holdings Research: Insights from a Bibliometric Analysis

DOI: https://doie.org/10.10399/APER.2025301461

Authors:

Rohit Kumar, Dr Varun Dawar

Keywords:

Corporate Cash holdings, Cash holding policy,Value of Cash Holding.

Abstract:

Purpose – This study reviews the research's historical span in cash holdings covering two decades, bringing a riveting visual modality and avenues for forthcoming research.

Design/methodology/approach – The Scopus database is utilized to mine the data in this study. The data was collected till September 2023, and the result of the query search string includes 4175 documents published from 1982 until 2023. VoSviewer was used to execute citation and co-citation analysis, and maps were created for authors, co-occurrence, co-authorship network, and document citations was performed.

Findings – The study of Corporate Cash Holdings has witnessed significant growth since 2003. Research on this topic is dominated by the United States, China and U.K. Keyword analysis and co-occurrence analysis point to "Cash Holdings," "cash flow," and "investment" as dominant themes in the field. Co-citation analysis identifies the association between cash holdings and firm value, considering factors like shareholder protection, investment opportunities, and market-tobook ratios.

Practical implications – This study highlights new research avenues that have evolved in corporate cash holdings in the past 20 years, and our study highlights several promising areas for future research.

Originality/value – Our study offers valuable insights into future research on Cash Holdings, which must prioritize bridging the gaps between different research streams and disciplines. This will provide a more holistic understanding of this complex and multifaceted topic. Increased association between researchers from diverse backgrounds and institutions can foster crossfertilization of ideas and lead to more impactful research.

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