DETERMINANTS OF CORPORATE LIQUIDITY: A LITERATURE REVIEW
Nguyen Thi Thu Huyen
The 2008-9 fnancial crisis has renewed interest in the way in which frms manage liquidity,
because frms’ access to external fnancing was a major determinant of frms’ survival during
this period. Yet, research on determinants of corporate liquidity is an old topic and has been
discussed at least since Keynes’ (1936) General Theory. This paper aims to provide the critical
point of existing literature related to the determinants of cash holding in order to fnd directions
for further research in this topic.
Key words: Corporate liquidity, Cash holding, Corporate governance.
Date of submission: 10th January 2015 – Date of approval: 30th April 2015.