| 我国上市公司现金持有影响因素的动态调整分析 |
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| 引用本文： | 聂丽洁,胡芙蓉. 我国上市公司现金持有影响因素的动态调整分析[J]. 西安交通大学学报(社会科学版), 2011, 31(2): 54-56 |
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| 作者姓名： | 聂丽洁 胡芙蓉 |
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| 作者单位： | 西安交通大学,管理学院,陕西,西安,710049 |
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| 摘 要： | 公司现金持有是一个动态调整的过程,不同时间不同公司的目标现金持有量具有动态变化特性。以动态面板数据方法构建的公司现金持有动态调整模型比静态模型更能捕捉到企业现金持有的动态调整速度与调整形态。利用动态模型对中国上市公司进行实证检验的结果表明,不同的公司财务特征会对现金持有产生不同的影响,且中国上市公司向目标现金持有量调整的速度相对较慢。
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| 关 键 词： | 现金持有量 动态调整 财务特征 |
Dynamic Adjustment Study on Determinants of Cash Holdings of Listed Companies in China |
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| NIE Li-jie,HU Fu-rong. Dynamic Adjustment Study on Determinants of Cash Holdings of Listed Companies in China[J]. Journal of Xi'an Jiaotong University(Social Sciences), 2011, 31(2): 54-56 |
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| Authors: | NIE Li-jie HU Fu-rong |
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| Affiliation: | NIE Li-jie,HU Fu-rong (School of Management of Xi'an Jiaotong University,Xi'an 710049,China) |
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| Abstract: | Corporate cash holding is a dynamic adjustment process and the target cash holding has a dynamic change characteristic at different times or in different companies.A dynamic adjustment model of corporate cash holding constructed with the dynamic panel data method is in a better position to capture the speed and form of the dynamic adjustment of corporate cash holding than the static model.The results of an empirical examination of Chinese listed companies with the dynamic model show that financial character... |
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| Keywords: | cash holding dynamic adjustment financial characteristics |
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