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；

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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；

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We found that operation risks and bankrupt costs of enterprises could have positive impacts on leverage ratio, while pay-out ratio of dividends may have negative impact on leverage ratio.

我们发现企业的经营风险和破产成本可能对杠杆率有正面影响，而股息支付率则与杠杆率负相关。

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This is what analysts call negative operating leverage and they don't like it.

FORBES: Magazine Article

This leverage is treated as a positive for companies but a negative for countries, a key inconsistency in popular economics.

FORBES: Trade Deficit--Or Capital Surplus?