RDP 2016-03: Why Do Companies Hold Cash? Equation

CAS H it CAS H i ¯ = γ 1 ( X 1it X ¯ 1i )+ γ 2 ( X 2it X ¯ 2i )+( ε it ε ¯ i ) MathType@MTEF@5@5@+=feaagCart1ev2aaatCvAUfeBSjuyZL2yd9gzLbvyNv2CaerbuLwBLnhiov2DGi1BTfMBaeXatLxBI9gBaerbd9wDYLwzYbItLDharqqtubsr4rNCHbGeaGqiVu0Je9sqqrpepC0xbbL8F4rqqrFfpeea0xe9Lq=Jc9vqaqpepm0xbba9pwe9Q8fs0=yqaqpepae9pg0FirpepeKkFr0xfr=xfr=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@63B1@