Proceedings of the 2016 3rd International Conference on Management, Education Technology and Sports Science (METSS 2016)

Cash Holdings and Excess Credit--Empirical Evidence from Chinese Listed Companies

Authors
Ming Bai, Zhongzheng Qiao
Corresponding Author
Ming Bai
Available Online November 2016.
DOI
https://doi.org/10.2991/metss-16.2016.53How to use a DOI?
Keywords
cash holdings, excess credit, Probit model.
Abstract

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.

Copyright
© 2016, the Authors. Published by Atlantis Press.
Open Access
This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

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Volume Title
Proceedings of the 2016 3rd International Conference on Management, Education Technology and Sports Science (METSS 2016)
Series
Advances in Economics, Business and Management Research
Publication Date
November 2016
ISBN
978-94-6252-248-0
ISSN
2352-5428
DOI
https://doi.org/10.2991/metss-16.2016.53How to use a DOI?
Copyright
© 2016, the Authors. Published by Atlantis Press.
Open Access
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  -