交叉持股网络对上市公司融资约束的影响研究

来源 :华人学者营销协会,上海财经大学商学院,上海市市场学会 | 被引量 : 0次 | 上传用户：cai372751072

【摘要】

：

本文以我国2014 年～2017 年涉及交叉持股的上市公司样本为研究对象，实证研究了交叉持股网络与上市公司融资约束的关系。研究发现，上市公司嵌入交叉持股网络可以凭借其网络位置优势缓解融资约束，企业通过信息共享、资源配置优化及信任加强的机制降低了现金持有水平，即表现出现金——现金流敏感性下降，投资水平上升。进一步研究表明，企业产权性质对融资约束的缓解起调节作用，非国有企业融资约束的缓解效应更加明显，

【作者】

：

孙秋媛华迎

【机构】

：

对外经济贸易大学,信息学院

【出处】

：

华人学者营销协会,上海财经大学商学院,上海市市场学会

【发表日期】

：

2018年9期

【关键词】

：

融资约束交叉持股网络现金--现金流敏感性

下载到本地 , 更方便阅读

下载此文赞助VIP

声明 : 本文档内容版权归属内容提供方 , 如果您对本文有版权争议 , 可与客服联系进行内容授权或下架

论文部分内容阅读

其他文献

The Influence of Culture on Medical Tourism Destination Image and Medical Travel Decision

Destination image and its relationship with travel destination has long been studied in the field of tourism.As people travel more all over the world,the tourism industry has grown to include many typ

会议

Cultural factorsDestination imageMedical tourismMedical travel decisions

The Mediating Effect of Job Satisfaction on Workplace Components and Work Performance of Sales Promo

Satisfied employees are the major source of success for any organization.A study was conducted to identify the mediating effect of job satisfaction,as a connector between the workplace components and

会议

Safety and Security (SS)Feeling of Fulfillment (FF)Relationship with Superviso

An Exploratory Case Study of Consumer Trust in Fresh Agricultural Products

The low level of consumer trust has become the main problem that restricts the development of the e-commerce industry of fresh agricultural products in China.Based on the in-depth investigation and an

会议

fresh agricultural productse-commercecustomer trustO2O modebusiness modecor

On the Inheritance and Development of Shadow Show Art Based on Digital Media Technology

With the changes of the times,the social trends,art aesthetics and the media are constantly updating,various fresh and advanced entertainment activities appear in life.The traditional performance and

会议

Shadow show playDigital mediaInheritanceDevelopment

Triggers of WOM Via Facebook and the Moderating Effect of Individualism:A Study on Malaysian Automob

This study aims to explore(1)the word of mouth triggers namely brand loyalty,selfexpressive brands and brand tribalism; and(2)the effects of susceptibility to interpersonal influence and social networ

会议

WOMbrand loyaltyself-expressive brandsbrand tribalismindividualism

Research on the Influence of Consumer Cognition and Emotion of Regional Brand of Agricultural Produc

In-depth exploration of the impact of consumer cognition and emotion of regional brand of agricultural products on brand loyalty and brand development is a fundamental research topic in the field of r

会议

Regional brand of agricultural productsABC attitude modelConsumerStructural e

Safety Culture in Enterprises:Taking China's Construction Industry As an Example

The high incidence of safety accidents in the construction industry has seriously threatened the personal safety of the workers,and the safety culture has become an indispensable part of the Chinese e

会议

Safety cultureConstruction industryEnterpriseGame

用户特征及自我建构对在线视频付费意愿的影响研究

随着版权意识的增强，越来越多的视频需要付费才能观看。本文从用户角度出发，首先从用户特征和自我建构两方面提出影响视频付费意愿的研究假设和理论模型。探究在线视频付费意愿的影响因素。然后通过问卷形式回收了693份样本。研究结果显示，年龄、收入和观看在线视频的频率对在线视频的付费意愿具有显著影响，其中18-30岁的用户群体付费意愿较高，无收入和低收入用户群体的付费意愿也较高，观看在线视频频率与付费意愿之间

会议

在线视频用户特征自我建构付费意愿

社交货币、沉浸体验与网路视频直播平台的品牌钟爱

本文研究互联网时代的产物——网路视频直播平台的品牌钟爱。文章首先对关于品牌钟爱的研究进行了文献综述，并针对视频直播这个特殊行业，除了自我一致性以外，引入了社交货币与沉浸体验作为前置变量来分析它们对视频直播平台的品牌钟爱的影响，以及探讨品牌钟爱对购买意愿的作用。文章所建立的研究模型可以为网路视频直播平台行业提供理解其品牌钟爱提供清晰的思路，对提升网路视频直播平台的用户品牌钟爱，增强平台品牌的竞争优势

会议

品牌钟爱社交货币沉浸体验自我一致性网络视频直播平台

乡村旅游发展背景下农民创业的机遇与挑战研究

通过对十堰郧阳区乡村旅游发展实地走访调研，对郧阳区乡村旅游发展现状及现有模式进行分析，剖析农民创业所面临的机遇与挑战，在此基础上提出了相关对策与建议，以期促进当地乡村旅游的发展。

会议

乡村旅游农民创业机遇与挑战

交叉持股网络对上市公司融资约束的影响研究

与本文相关的学术论文