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利用最新的企业家能力评价数据,对企业家能力与现金持有之间的关系进行了探讨。研究结果发现,企业家能力越高,现金持有量越大。进一步的研究发现,企业家能力对现金持有的影响存在着所有制差异,企业家能力对现金持有的正向影响在非国有企业中更加显著。企业家能力对现金持有的影响更可能是源自现金持有的预防性动机。
Using the most recent entrepreneurial competence data, the relationship between entrepreneurship and cash holdings is explored. The study found that the higher the entrepreneurial ability, the greater the cash holdings. Further studies have found that there is a difference in ownership between the entrepreneurial ability and the cash holdings. The positive effect of entrepreneurial ability on cash holdings is more significant among non-state-owned enterprises. The impact of entrepreneurial ability on cash holdings is more likely to stem from preventive motives for cash holdings.