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Cross-Market Commentary: The Largest Corporate Cash Holdings Are All Over The Map Jan 11
Standard & Poors, Jan 2011
Abstract
In the past, much discussion among market participants, as well as commentary from Valuation and Risk Strategies Research, focused on the growing levels of cash and short-term investments that American corporations hold. Increased productivity and a recovery in earnings have, at least in part, fueled this bounty. To that end, investors have witnessed pick-ups in corporate stock buybacks, dividend payouts, and merger and acquisition activity. But what about the rest of the world? From the perspective of the global economy, where do U.S. corporations rank relative to their counterparts worldwide in term of cash holdings? With the help of Capital IQ data, the VRS research team examined the top 50 publicly traded companies globally, excluding financials, ranked by their latest...
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.
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