Cash holdings of minority family businesses in Indonesia

Herdhayinta, Heyvon and Lau, James and Shen, Carl Hsin-han (2023) Cash holdings of minority family businesses in Indonesia. EMERGING MARKETS REVIEW, 55. ISSN 1566-0141

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Abstract

Market-dominant minorities (MDM) is a phenomenon widespread in emerging countries. Draw-ing on the socioemotional wealth perspective, we investigate the cash holdings of minority family businesses owned by the Chinese diaspora, as MDM in Indonesia. Our findings suggest that they hold a relatively high level of cash. However, there is heterogeneity among these MDM firms, whereby those with family management hold a lower level of cash. Furthermore, by analyzing the effect of the 2016 Jakarta protests, we find that MDM businesses may change their cash policies after an ethnic conflict. This study advances our understanding of MDM family firms.

Item Type: Article
Uncontrolled Keywords: Minority family business; Ethnic minority business; Market -dominant minorities; Cash holdings; Socioemotional wealth (SEW)
Subjects: H Social Sciences > HG Finance
Divisions: Faculty of Economics & Business > Master in Accounting (M.Acc.)
Depositing User: Sri JUNANDI
Date Deposited: 31 Oct 2024 01:28
Last Modified: 31 Oct 2024 01:28
URI: https://ir.lib.ugm.ac.id/id/eprint/10152

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