Research on the Influencing Factors of Cash Holdings of Listed Companies—Based on the Perspective of Dual Principal-Agent Theory ()
ABSTRACT
From
the perspective of dual principal-agent theory, this paper takes the panel data
of A-shares in China from 2012 to 2019 as the research object, uses
fixed-effect model to empirically analyze the influencing factors of cash holdings
of listed companies from three aspects: ownership structure, board characteristics
and quality of internal control information disclosure. At the same time, the
empirical results are explained theoretically. The research in this paper is of
positive significance to the cash holding management of listed companies in
China.
Share and Cite:
Lin, C. (2020) Research on the Influencing Factors of Cash Holdings of Listed Companies—Based on the Perspective of Dual Principal-Agent Theory.
Open Journal of Social Sciences,
8, 369-386. doi:
10.4236/jss.2020.86028.