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 evidences also show that cash flow variability, cash substitutes, financial leverage, and corporate age have significantly negative relation with corporate cash holdings.

youdao

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。

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.

youdao

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。

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.

youdao