Cash Holdings and Excess Credit--Empirical Evidence from Chinese Listed Companies
- https://doi.org/10.2991/metss-16.2016.53How to use a DOI?
- cash holdings, excess credit, Probit model.
This paper studies the impacts of cash holdings on excess credit using a balanced panel of 988 Chinese listed companies. Regression results show negative correlation between cash holdings and the possibility of occurrence of excess credit in Probit model. The lower the corporate cash holdings level, the higher the probability that the enterprise appears excess credit. Empirical results are consistent with the pecking order theory, corporate cash holdings policy can affect the corporate financing decision.
- © 2016, the Authors. Published by Atlantis Press.
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- This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).
Cite this article
TY - CONF AU - Ming Bai AU - Zhongzheng Qiao PY - 2016/11 DA - 2016/11 TI - Cash Holdings and Excess Credit--Empirical Evidence from Chinese Listed Companies BT - Proceedings of the 2016 3rd International Conference on Management, Education Technology and Sports Science (METSS 2016) PB - Atlantis Press SP - 259 EP - 263 SN - 2352-5428 UR - https://doi.org/10.2991/metss-16.2016.53 DO - https://doi.org/10.2991/metss-16.2016.53 ID - Bai2016/11 ER -