Deon Strickland’s research while affiliated with Wake Forest University and other places

A number of reports from the business press have suggested that corporate cash hoarding may have served as the motivation for the recent rise in inversions. While access to cash may motivate some inversions, it is difficult to differentiate the importance of corporate cash availability from other influences such as business environment shocks or relative equity valuations. Regardless of the specific motivation, inversion transactions have garnered the attention of the public, the media and the government. This recent spike in scrutiny carries with it the possibility that some action may be taken to at least partially eliminate any potential tax benefits of an inversion, suggesting that firms considering such a move might be wise to move quickly. © 2015 Wiley Periodicals, Inc.

AbstractU.S. firms have been accumulating cash fairly steadily since the 1980s. Has this changed four years after the “official” end of the recession? And are both large and small firms continuing to retain cash? © 2013 Wiley Periodicals, Inc.

US companies are stockpiling cash, despite the economic downturn. But why are they doing this? And are they holding too much cash? The authors of this article investigate the reasons for this trend, the effect on a company's value, and how a firm can tell if it is indeed holding too much cash. © 2011 Wiley Periodicals, Inc.

“Toeholds” are a merger-and-acquisition (M&A) strategy, where a company buys a limited number of shares in a target firm prior to initiating M&A discussions with the target firm. Toeholds can lower the risk and cost of an acquisition. But this strategy carries risks of its own. The authors examine potential positive and negative consequences of using toeholds. © 2010 Wiley Periodicals, Inc.