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Cunha, I., & Pollet, J. (2020). Why Do Firms Hold Cash? Evidence from Demographi

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Cunha, I., & Pollet, J. (2020). Why Do Firms Hold Cash? Evidence from Demographic Demand Shifts. The Review of Financial Studies, 33(9), 4102–4138. https://doi.org/10.1093/rfs/hhz124
Summarise the content from page 24 to page 31 and write it in the form of a Presentation speech, which will be about 8 minutes long. It is important to write about the most important points of each chart and what points they illustrate, e.g. in Figure 4, what number do we need to focus on, what does this number represent, etc.; or what things do we need to focus on in this long list of equations?

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