cash holdings

Then uses influence factors of cash held as variable to estimate excess cash holdings, and concluded companies that hold excess cash over three years. On this basis, this paper selects the company scale to measure financing constraints degree.

然后以影响现金持有的各因素为变量对超额现金持有量进行估算，得出了持续三年持有超额现金的公司。

Its theory is if the enterprise has financing constraints, its cash flow sensitivity of cash holdings is positive, if the company has not financing constraints, the cash holdings sensitivity has nothing to do with cash flow.

其理论是受到融资约束的企业，其现金持有量的现金流敏感性为正，而没有受到融资约束的企业，其现金持有量的变动，与现金流没有关系。

Financial Constraints, Cash Flow Volatility and Corporate Precautionary Cash Holdings

融资约束、现金流风险与现金持有的预防性动机

Unlike Temasek, other foreign banks with stakes in their Chinese counterparts have sold down holdings to raise cash during the financial crisis, dismaying the Chinese who had considered them long-term holders.

与淡马锡不同，其它外资银行都已抛出或减持自己所持的中资银行股份，以便在金融危机期间筹集现金，这些举动令曾经将它们视为长期股东的中方不满。

Cash holdings will become an important means of access to capital.

减持套现将成为企业获得资金的重要手段.

Managerial self-interest motive may affect cash holdings and their utilization.

经理人‘自利动机’可能会影响到公司现金持有量以及现金使用.

Obviously, corporate financial condition, board structure and ownership concentration are important determinants of cash holdings.

显然, 公司的财务状况 、 董事会结构和所有权集中度等是公司现金持有量的重要决定因素.

This paper provides Empirical evidence about faultiness of board of director Governance mechanism in China from the angle of corporate cash holdings.

这从企业现金持有行为的角度为我国上市公司董事会治理机制的不完善性提供了经验证据。

using ols and gmm model of corporate cash holdings of cash flow sensitivity analysis, for further research.

采用OLS与GMM模型对企业现金持有量的现金流敏感性做进一步的分析研究。

The purpose of the cash flow management is to reduce the amount of cash holdings so as to maximize cash savings so that the idle cash for investments can be translated into corporate earnings.

在保证企业正常经营活动的同时，如何降低现金持有量、最大限度的的节约现金，以便将闲置的现金用于投资，转化为企业的收益，这就是现金流管理的目的。

Private equity firms typically value their holdings using criteria that include discounted cash flows and the prices of comparable public companies.

通常，私人股本基金采用包括贴现现金流和同类上市公司价格在内的标准，来为自己的持股进行估值。

From time features, cash holdings presents the trend of first decline then up.

从现金持有的时间特征看，呈现先下降后上升再平稳的趋势。

The Norwegian sovereign wealth fund recently sold European bonds to fund an increased exposure to Asian bonds, whilst the Azeri sovereign wealth fund is seeking to add the Chinese renminbi to its cash holdings.

挪威主权财富基金最近抛售欧洲债券，以便腾出资金加大在亚洲债券上的敞口，同时阿塞拜疆主权财富基金正寻求将人民币加入其现金头寸中。