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论文类型：会议论文

发表时间：2015-01-01

收录刊物：CPCI-SSH

页面范围：438-443

关键字：enterprise performance; cash holdings; quantile regression method

摘要：Cash is the guarantee of regular production and operation, thus the cash holdings of an enterprise is the focus from all parties. In this paper, samples of marketing enterprises in Chinese manufacturing industry from 2008 to 2013, using quantile method for empirical analysis to explore the influence of cash holdings on enterprise performance. Empirical research conclusions indicate that excess cash holdings facilitate the enterprise performance, moreover, with the increasing performance quantile, its influence on enterprise performance appears "U" type; the insufficient cash holdings have an inhibiting effect on enterprise performance and with the increasing performance quantile, its negative effect on enterprise performance will be smaller and smaller.