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
  • [31] Firm-level perception of uncertainty and overseas investment: evidence from China's listed firms
    He, Chao
    Li, Yanxi
    Xu, Runxiang
    INTERNATIONAL JOURNAL OF EMERGING MARKETS, 2024, 19 (09) : 2317 - 2346
  • [32] The effect of firm-level perception of uncertainty on innovation: Evidence from China?s listed firms
    He, Chao
    Li, Yanxi
    Zhu, Jiawei
    ECONOMICS LETTERS, 2022, 221
  • [33] Government control and the value of cash: evidence from listed firms in China
    Yu, Xinyu
    Wang, Ping
    REVIEW OF QUANTITATIVE FINANCE AND ACCOUNTING, 2020, 55 (04) : 1341 - 1369
  • [34] Government control and the value of cash: evidence from listed firms in China
    Xinyu Yu
    Ping Wang
    Review of Quantitative Finance and Accounting, 2020, 55 : 1341 - 1369
  • [35] Liquidity, the Value of the Firm, and Corporate Finance
    Amihud, Yakov
    Mendelson, Haim
    JOURNAL OF APPLIED CORPORATE FINANCE, 2008, 20 (02) : 32 - +
  • [36] Liquidity, the Value of the Firm, and Corporate Finance
    Amihud, Yakov
    Mendelson, Haim
    JOURNAL OF APPLIED CORPORATE FINANCE, 2012, 24 (01) : 17 - +
  • [37] Financial performance of China's listed firms in presence of coronavirus: Evidence from corporate culture and corporate social responsibility
    Zheng, Fengjiao
    Zhao, Zhiying
    Sun, Yunpeng
    Khan, Yousaf Ali
    CURRENT PSYCHOLOGY, 2023, 42 (11) : 8897 - 8918
  • [38] Financial performance of China’s listed firms in presence of coronavirus: Evidence from corporate culture and corporate social responsibility
    Fengjiao Zheng
    Zhiying Zhao
    Yunpeng Sun
    Yousaf Ali Khan
    Current Psychology, 2023, 42 : 8897 - 8918
  • [39] Firm-level political risk and corporate innovation: evidence from US listed firms
    Ahmed, Huson Ali
    Muttakin, Mohammad Badrul
    Khan, Arifur
    INTERNATIONAL JOURNAL OF MANAGERIAL FINANCE, 2023, 19 (03) : 519 - 538
  • [40] Corporate Transparency and Firm Performance: Evidence from Venture Firms Listed on the Korean Stock Market
    Kim, Younghwan
    Lee, Jungwoo
    Yang, Taeyong
    ASIA-PACIFIC JOURNAL OF FINANCIAL STUDIES, 2013, 42 (04) : 653 - 688
12345