北京工商大学学报
(
社会科学版
)摇 摇 摇 摇 2015
年
摇
第
3
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Entrepreneurship
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Ownership and Corporate Cash Holdings
CAI Weixing
(
Donling School of Economics and Management
,
University of Science and Technology Beijing
,
Beijing 100083
,
China
)
Abstract
: With the updated data of evaluating entrepreneurship, this paper probes into the relationship between entrepre鄄
neurship and corporate cash holdings. The results show that the higher the entrepreneurship, the more the corporate cash hold鄄
ings. Further studies indicate that there is the difference in ownership as to the impact of entrepreneurship upon corporate cash
holdings and that in non鄄state鄄owned enterprises (NSOE) entrepreneurship has a more significantly positive effect on corporate
cash holdings. The impact of entrepreneurship upon corporate cash holdings is more likely to stem from precautionary motive of
corporate cash holdings.
Key Words
: entrepreneurship; ownership; corporate cash holdings
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