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。

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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。

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