【作者】 宋力； 秦诗音；

【Author】 SongLi QinShi-yin School of Management, Shenyang University of Technology, Shenyang,110178

【机构】 沈阳工业大学管理学院；

【摘要】 本文基于2008年693家上市公司样本,采用多元线性回归对上市公司现金持有量的影响因素进行了检验。结果表明:上市公司现金持有量与现金流量、现金替代物、公司负债和企业规模显著负相关,与财务杠杆、债务期限结构显著正相关;现金持有量与控股股东的产权性质显著负相关,与股权集中度、控股股东的关联交易行为、支持现金股利政策行为和上市公司为控股股东提供担保行为显著正相关。更多还原

【Abstract】 Using multiple linear regression analysis to test the influencing factors of cash holdings of the listed company based on 693 samples of the listed companies in 2008. The results show that cash holdings of the listed company and cash flow, cash substitute, corporate debt, firm size are significant negative correlation. Cash holdings of the listed company and leverage, debt structure are significant positive correlation. cash holdings of the listed company and property rights are significant negative correlation. Cash holdings of the listed company and ownership concentration, transactions associated with the controlling shareholder, supporting cash dividend policy, loaning guarantee to related parties are significant positive correlation.更多还原