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ID:49823002
大小:6.49 MB
页数:66页
时间:2020-03-04
《公司治理、现金持有与企业价值——基于我国制造业上市公司的经验数据研究.pdf》由会员上传分享,免费在线阅读,更多相关内容在学术论文-天天文库。
1、研巧发现,,我国制造业上市公司现金持有会给企业带来正面的价值效应说明我国当前阶段更适合用现金持有的权衡理论来解释制造业上市公司高额持有现金的现象。关键词:公司治理;现金持有;企业价值;制造业;实证分析nCORPORATIONGOVERNANCEvCASHHOLDINGSANDCORPORATON-IVALUEANEMPIRICALSTUDYONLISTEDCOMPANIESOFMANUFACTURINGINDUSTRYINCHINA.ABSTRACTCash,asthemo巧liqui
2、dassetsinthecorporatio打,playavitalroleinthedailybusinessactivitiesine打terrises.Aboutholdincashononehandcororationw。!consider化ebenefitspgj,pofholdingcash,on化e0也erhand,w"Iconsider化ecostsofholdingcash.Therefore,化0analysisofinfluencingfactor
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4、ingsanditsvalue化corporatio。w"lbeofgreatsignificance.Inthisaerweusethemethodofcombinationofualitativeanduantitativeanalsistostudpp,qqyy化erelationshipbetweencasliholdingsandcorporategovernance沉id化evalueefect1:0cororationomcashodnsnmanufac
5、tustecoorates.pfrhligiringlidrpInualitativeanalysisthroughSortinandsummarizingaboutcashholdinstheorandq,ggycorporationvaluetheory,thispaperanalyzestherelationshipbetweencashholdingsandcorporategovernanceinourmanufacturinglistedcorporationfa
6、cingSpecialmacroenvironmentalsointroducingthefinancialfactorsascontrolvariables!:〇therelationshi.虹,padditiontotheanalysisoftherelationshipbetweencashholdingsandcorporationgovernance,thispaperanalyzesthevalueofc过shholdings化thecorporationin
7、listedmanufacturncomanesigpi.虹quantitativeanalysis,thispapertakesthecashandcashequivalentsaccounte过forthetn'vaotalassetsratoasacororationcashhosTobinslueasthevaueoteipldiglevel,Qlfhcorporation^makinganempiricaltestonrelationshipbetwee
8、ncorporationgovernanceandcashholdi
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