From the firm level perspective, cash holdings reflects a firm's financial strategy as well as operating strategy, besides, inappropriate cash decisions will have a significant impact on future performance.
从微观方面来讲,现金持有行为综合反映了企业的财务战略和经营战略,不适当的现金持有决策会对企业的未来业绩产生影响。
参考来源 - 我国上市公司现金持有量决定因素的实证研究·2,447,543篇论文数据,部分数据来源于NoteExpress
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