经理人‘自利动机’可能会影响到公司现金持有量以及现金使用。
Managerial self-interest motive may affect cash holdings and their utilization.
在此基础上，论文进一步研究了上市公司现金持有量对企业价值所产生的影响，并对照国外相关研究分析了结论存在差异的原因。
On this basis, the paper further explores how cash holdings impacts the market value of firms, and analyses the reason for the difference of the research conclusion by contrast with abroad research.
本文选取了2000年上市公司样本991个，定义了基于股权结构的股东保护变量，并在此基础上研究了股东保护与现金持有量之间的关系。
For a sample of 991 firms from capital market in year 2000, we define the concept of shareholder protection according to equity ownership structure and study its relationship to the cash holdings.
目前国内最常见的一种确定最佳现金持有量的分析模式存在着一个基本错误，即它将短缺成本看成与现金持有量呈线性关系，从而导致了一些错误的结论。
In the model, the shortage cost is assumed as a linear function of the amount of cash on hand and some wrong conclusions are then drawn.
他马上又表示，不见得在见到成交量清淡后就要立刻卖出手中的股票，转而持有现金。
He's quick to stress that you shouldn't necessarily see low volume as the time to sell out of your positions and stuff cash into your couch cushions.
很少有外国投资者持有日元现金或债券，各国央行的持有量也同样少得可怜。
Few non-Japanese investors own yen cash or bonds, and central bank holdings are similarly derisory.
不过，此种增长并非在五国都出现，西班牙和葡萄牙非金融类公司持有现金量的增长超过了希腊、爱尔兰和意大利的下滑。
That increase was not across the board though, as gains in Spain and Portugal outweighed declines for Greek, Irish and Italian non-financial companies.
不过，此种增长并非在五国都出现，西班牙和葡萄牙非金融类公司持有现金量的增长超过了希腊、爱尔兰和意大利的下滑。
That increase was not across the board though, as gains in Spain and Portugal outweighed declines for Greek, Irish and Italian non-financial companies.
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