Corporate liquidity and firm value: evidence from China's listed firms

被引：4
|
作者：
Du, Jinmin [1 ]
Wu, Fei [2 ]
Liang, Xingyun [1 ]
机构：
[1] Jinan Univ, Sch Econ, Guangzhou, Guangdong, Peoples R China
[2] S China Normal Univ, Coll Econ & Management, Guangzhou, Guangdong, Peoples R China
来源：
2015 INTERNATIONAL SEMINAR ON SOCIAL SCIENCE AND HUMANISTIC EDUCATION (SSHE 2015) | 2016年 / 24卷
关键词：
liquidity; firm value; R&D; firm size; CASH HOLDINGS;
D O I：
10.1051/shsconf/20162401013
中图分类号：
G40 [教育学];
学科分类号：
040101 ; 120403 ;
摘要：
The value of liquidity is a promising area for research. This paper analyzes the correlation between corporate liquidity and firm value by using evidence from China's listed firms. This paper also investigates the relation among corporate liquidity, R&D and firm size. The authors find that firm's sufficient liquidity can increase its market value. However, corporate liquidity has insignificant effect on firm's R&D. What's more, the authors further find that corporate liquidity also has diseconomies of scale. Excess corporate liquidity may adversely affect market value of large firms.
引用
收藏
页数：4
相关论文
共 50 条
  • [21] Research on Performance of Divesting Firms: Evidence from Listed Corporate in China
    Sun, Chunxiao
    Li, Chunyan
    PROCEEDINGS OF THE 2014 INTERNATIONAL CONFERENCE ON E-EDUCATION, E-BUSINESS AND INFORMATION MANAGEMENT, 2014, 91 : 288 - 291
  • [22] Firm-level perception of uncertainty, risk aversion, and corporate real estate investment: Evidence from China's listed firms
    Mao, Fengfu
    Yuan, Yue
    Zhang, Fan
    ECONOMIC ANALYSIS AND POLICY, 2025, 85 : 1428 - 1441
  • [23] Liquidity, ownership concentration, corporate governance, and firm value: Evidence from Thailand
    Prommin, Panu
    Jumreornvong, Seksak
    Jiraporn, Pornsit
    Tong, Shenghui
    GLOBAL FINANCE JOURNAL, 2016, 31 : 73 - 87
  • [24] Corporate Diversification, Relatedness, and Firm Value: Evidence from Korean Firms
    Bae, Sung C.
    Kwon, Taek Ho
    Lee, Jang Woo
    ASIA-PACIFIC JOURNAL OF FINANCIAL STUDIES, 2008, 37 (06) : 1025 - 1064
  • [25] Impact of CEO characteristics on firm performance: evidence from China listed firms
    Liu, Caiyun
    Jiang, Hui
    APPLIED ECONOMICS LETTERS, 2020, 27 (14) : 1 - 5
  • [26] The Impact of SARS Epidemic on Firm Investment: Evidence from Listed Firms in China
    Zhan, Jinyong
    Zhang, Zixie
    Rui, Mingjie
    EMERGING MARKETS FINANCE AND TRADE, 2025, 61 (04) : 1095 - 1112
  • [27] CEO characteristics and firm performance: evidence from private listed firms in China
    Rahman, Md Jahidur
    Chen, Xianxian
    CORPORATE GOVERNANCE-THE INTERNATIONAL JOURNAL OF BUSINESS IN SOCIETY, 2023, 23 (03): : 458 - 477
  • [28] Is Textual Tone Informative or Inflated for Firm's Future Value? Evidence from Chinese Listed Firms
    Wu, Dong Xiao
    Yao, Xiao
    Guo, Jian Luan
    ECONOMIC MODELLING, 2021, 94 : 513 - 525
  • [29] Executive compensation, firm performance, and corporate governance in China: Evidence from firms listed in the Shanghai and Shenzhen Stock Exchanges
    Kato, Takao
    Long, Cheryl
    ECONOMIC DEVELOPMENT AND CULTURAL CHANGE, 2006, 54 (04) : 945 - 983
  • [30] Corporate governance, firm performance and innovation: The Case of China's listed firms engaging in OFDI
    Tayeb, Mohamed Yacine Si
    Ye, Chen Gang
    Ming, Jiang
    APPLIED ECONOMICS LETTERS, 2023, 30 (08) : 1052 - 1059
12345