c Background: Ferreira and Vilela (2004) investigated the determinants of corporate cash holdings in a set of European countries using a sample of data from 1987-2000. For these means, Ferreira and Vilela (2004) identified three theoretical models which can help explain the firm characteristics that determine the cash to total assets ratio. They then formulated a set of hypothesis regarding different firm characteristics that should influence the relative amount of cash that firms choose to keep. A number of studies had been done before Ferreira and Vilela (2004), but this was one of the first articles that investigated the issue from a European perspective. Subsequently, other researchers have done similar studies building upon the work of Ferreira and Vilela (2004), among others. Task: Write a report on the topic of the determinants of corporate cash holdings. The report should have the following disposition: – Introduction (max 1/2 page) – Literature review: You should give a critical review and analysis of research articles that deal with the drivers of cash holdings. You should use the attached articles, which fall into the following categories: i Determinants of cash holdings “ Evidence from emerging markets ii Industry specific and private firms iii Corporate governance and related theories iv The effect of culture and social norms (cultural dimension of managerial behaviour) v Organizational structure of corporate financing Al-Najjar (2013). (i) Arslan et al (2006). (i) Kusnadi et al (2015). (i) Wang et al (2014) (i) Bigelli and Sanchez-Vidal (2012). (ii) Kim et al (2011). (ii) Chang and Noorbakhsh (2006). (iii) Foley et al (2007). (iii) Chang and Noorbakhsh (2009). (iv) Ramirez and Tadesse (2009). (iv) Harford (1999). (v) Tang et al (2010). (v) You may also use some other articles of your own choice if you deem it suitable. The analysis should focus on the contribution of the articles compared to previous studies. – Conclusions (max 1/2 “ 1 page) and summary (max 1/2 “ 1 page)