Managerial self-interest motive may affect cash holdings and their utilization.
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。
Therefore, the level of corporate cash holdings is an important decision in the company.
因此，确定企业的现金持有水平是企业经营中的一项重要决策。
Whether does corporate cash holdings pay positive or negative effect on corporate value?
公司的现金持有对公司价值到底是正的影响还是负的影响？
Inflation reduces the real value of money, so people have an incentive to minimize their cash holdings.
通货膨胀减少了货币的真实价值，因此人们就有激励去最小化其现金持有。
In short, as American firms expand at home and abroad, profits are set to rise and cash holdings to fall.
简而言之，随着美国企业在国内国外的扩张，利润注定上涨，手持现金注定减少。
The results show that the effect of unexpected cash holdings on company value is dependent on the agency costs.
这一结果表明，异常现金持有对公司价值的影响是依赖于代理成本而存在的。
Including: the lower rate of ruturn of cash holdings and agency cost of managerial or majority shareholders' self-interest.
二是由经理人、控股股东‘自利动机’引起的现金持有代理成本。
In recent years, the problem of company's cash holdings has become one of a hot topic in academic areas at home and abroad.
近年来，企业的现金持有问题已经逐渐成为国内外学术研究的热点之一。
However, no evidence shows that cash flow, bank debt, and maturity structure of debt have relation with corporate cash holdings.
没有证据显示现金流、银行债务、债务期限结构与企业现金持有水平之间存在相关关系。
Article13. Each unit shall set up a property inventory system and ensure that the accounting records conform to the physical assets and cash holdings.
第十三条各单位应当建立财产清查制度，保证帐薄记录与实物、项相符。
The evidences also show that cash substitutes, financial leverage, and corporate age have significantly negative relation with the corporate cash holdings.
现金替代物、财务杠杆及公司年龄与现金持有水平显著负相关；
To enhance corporate cash management are to enhance the daily operations of the cash income and expenditure management and control of a good size of cash holdings.
加强企业现金管理，主要是加强日常经营活动中的现金收支管理和控制好现金持有规模。
This paper chooses the 2012 A-share listed companies of our country as samples, analyzes the situation of cash holdings about different industries listed companies.
本文以2012年我国A股上市阀门公司作为研究样本，分析了各个行业上市阀门公司现金持有水平的状况。
The evidences also show that cash flow variability, cash substitutes, financial leverage, and corporate age have significantly negative relation with corporate cash holdings.
现金流变异性、现金替代物、财务杠杆及公司年龄与现金持有水平显著负相关；
The fixed costs induce firms to raise external funds infrequently and to use cash holdings as a buffer; therefore firms will save cash out of their cash flow in a systematic way.
固定成本诱使企业不经常融入外部资金，而是使用现金持有作为缓冲器，则公司会把现金流系统性地储蓄起来，这与持有现金的交易成本动机一致。
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.
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。
This article first consider data of Chinese listed company in 2005-2008 years as sample data to make a regression analysis about which factors are the major factors on the impact of cash holdings.
本文首先以我国上市公司2005- 2008年的数据为样本对影响我国上市公司现金持有的主要因素进行了实证分析。
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.
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。
However, no evidences show that growth opportunity, cash flow, cash flow variability, bank debt, maturity structure of debt, and dividend payment are important determinants of corporate cash holdings.
没有证据显示增长机会、现金流、现金流变异性、银行债务、债务期限结构及股利支付是影响现金持有水平的重要因素。
Few non-Japanese investors own yen cash or bonds, and central bank holdings are similarly derisory.
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。
On Monday Hangzhou-based property developer Greentown China Holdings Ltd. said it is considering disposing of some of its property projects to boost its cash flow rather than cut prices.
总部位于杭州的绿城房地产集团有限公司于周一宣布，他们正在考虑出售几个房地产项目以增加现金流，但他们不会降价。
But hardest to value of all is how Mr Buffett allocates the prodigious cash flow from these holdings.
但最难估值的，是巴菲特如何配置这些持仓产生的巨额现金流。
But it also means investors may want to take a peek at the holdings of the mutual funds that hold their cash.
但是它也意味著投资者们可能想要偷窥一下储存著他们的现金的共有基金的储备。
That has fueled a rise in what private bankers call 'liquidity events,' where a company owner or executive can cash in his holdings to become a millionaire or billionaire.
这刺激了私人银行家所说的“流动性事件”的增多，一家公司的所有者或是管理者能将股份兑现，进而一跃成为百万富翁甚至亿万富翁。
UBS became the latest financial firm to go to Asia and the Middle East hat in hand, hoping to raise enough cash to patch the holes in its balance sheet caused by its holdings of subprime mortgages.
瑞士银行成为最新一家到亚洲和中东化缘的金融机构，它希望能筹到足够的现金，填补次级抵押贷款危机留下的黑洞。
Goldman joins Morgan Stanley, Nomura Holdings Inc. and Royal Bank of Scotland Group Plc in raising forecasts for iron ore prices this month after cash prices for the steelmaking raw material jumped.
自本月炼钢用原料价格暴涨后，高盛、摩根·斯坦利、野村控股和苏格兰皇家银行集团均提高了对铁矿石价格的预测。
He typically keeps 20% of the fund's holdings in cash.
他一般让基金的现金流保持在基金总额的20%。
He typically keeps 20% of the fund's holdings in cash.
他一般让基金的现金流保持在基金总额的20%。
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