Details

Autor(en) / Beteiligte

• Lei, Xin‐tu
• Xu, Qing‐yuan
• Jin, Cheng‐ze

Titel

Nature of property right and the motives for holding cash: Empirical evidence from Chinese listed companies

Ist Teil von

• Managerial and decision economics, 2022-07, Vol.43 (5), p.1482-1500

Ort / Verlag

Chichester: Wiley Periodicals Inc

Erscheinungsjahr

2022

Quelle

Wiley-Blackwell Journals

Beschreibungen/Notizen

• Earlier studies have reaffirmed the pivotal role played by the private sectors in China's development, so the growth of private enterprises deserves more attention. This paper carries out a series of empirical studies based on the motives for holding cash. It is found that private enterprises were forced to maintain a high level of cash holdings to deal with financing constraints, while SOEs accumulate cash proactively for larger financial flexibility. In such context, credit discrimination remains an urgent problem pending Chinese financial system reform solutions.