农业类上市公司现金持有影响因素的实证研究

现金持有是现代企业财务管理中一个重要的理论和实践问题,关系到企业的生存和发展。上市公司对现金的持有行为是多方面决策的结果。以中国农业类上市公司为样本,采用多变量线性回归法,对现金持有的影响因素进行理论分析实证研究。结果表明,资产周转率、现金流、应付股利与现金持有水平呈显著正相关,银行借款、应收账款、股东保护与现金持有水平呈显著负相关。

Empirical Investigation of the Cash-holding of Agriculture Company

Cash-holding is an important theoretical and empirical issue in modern corporate financial management,relating to corporate operation and development.Many factors attribute to decisions about cash-holding of stock company.We found that assets velocity,cash flow and dividends payable had significantly positive relation with cash-holding.The evidences also showed that bank debts,accounts receivable and shareholders protection had significantly negative relation with cash-holding.