From: Predicting cash holdings using supervised machine learning algorithms
Explanatory variables | Definitions | Studies | Source |
---|---|---|---|
CASH | The ratio of cash and cash equivalents to the total assets | Thomson Reuters | |
DIV | The ratio of total dividend payments to the total assets | Bigelli and Sánchez-Vidal (2012), Bhuiyan and Hooks (2019), Song and Lee (2012), Wu et al. (2021) | As Above |
SG | Annual change in sales growth (%) | Bigelli and Sánchez-Vidal (2012), Boubakri et al. (2013), Kim et al. (2021), Song and Lee (2012) | As Above |
SIZE | Natural logarithm of total assets in current USD | Bigelli and Sánchez-Vidal (2012), Boubakri et al. (2013), Drobetz and Grüninger (2007), García-Teruel and Martínez-Solano (2008), Lozano and Yaman (2020), Ozkan and Ozkan (2004) | As Above |
CAPEX | The ratio of capital expenditure to the total assets | Boubakri et al. (2013), Diaw (2021), Guney et al. (2007), Uyar and Kuzey (2014) | As Above |
CF | The ratio of the sum of pre-tax income plus depreciation to the total assets | Boubakri et al. (2013), Diaw (2021), Ferreira and Vilela (2004) Guney et al. (2007), Lozano and Yaman (2020), Uyar and Kuzey 2014), Wu et al. (2021) | As Above |
IE | The ratio of interest expense to the total assets | Schauten et al. (2011) | As Above |
NWC | The ratio of non-cash working capital to the total assets | Bigelli and Sánchez-Vidal (2012), Boubakri et al. (2013), Diaw (2021), Lozano and Yaman(2020) | As Above |
TANG | The ratio of net fixed assets to the total assets | Bhuiyan and Hooks (2019), Drobetz and Grüninger (2007), Uyar and Kuzey (2014) | As Above |
STD | The ratio of short-term debt to the total assets | As Above | |
ROA | The ratio of net income to the total assets | Batuman et al. (2021), Bhuiyan and Hooks (2019), Cai et al. (2016), Cambrea et al. (2021), Sarfriz et al. (2020) | As Above |
ROE | The ratio of net income to the total equity | Manoel et al. (2018) | As Above |
AR | The ratio of account receivable to the total assets | As Above | |
AP | The ratio of accounts payable to the total assets | As Above | |
CR | The ratio of current assets to current liabilities | As Above | |
EPS | Earnings per share | Sarfriz et al. (2020) | As Above |
ROIC | The ratio of net operating profit after tax to the total assets | Sarfriz et al. (2020) | As Above |
NET MARGIN | The ratio of net income to the net sales | Angelovska and Valentinčič (2019) | As Above |
PRETAX MARGIN | The ratio of profit before tax to the net sales | Mihai et al. (2018) | As Above |
AGE | The foundation year of the firm | Bigelli and Sánchez-Vidal (2012), Cai et al. (2016), Gao et al. (2013), Manoel et al. (2018), Wu et al. (2021) | Google Search |
WUI_TURKEY | Annual average of quarterly data of World Uncertainty Index |