商业信用对现金持有的影响研究——基于区域性金融发展水平背景

发布时间：2018-05-04 18:22

本文选题：企业应付款 + 企业应收款　；参考：《财会通讯》2017年30期

【摘要】：本文选取2011-2015年1162家上市公司为样本对象,分析了现金持有量受企业商业信用的影响,并探讨了区域金融发展水平对这种影响的调节作用。研究表明,企业应付款,即企业获取的商业信用,与现金持有存在显著正向相关性;企业应收款,即企业所提供的商业信用,与企业现金持有存在显著负向相关性;另外,企业当地金融发展对企业应收款和现金持有相关性的影响具有调节作用,金融发展水平越高,企业应收款与现金持有量间的替代性越强。
[Abstract]:This paper selects 1162 listed companies from 2011-2015 as the sample, analyzes the influence of the cash holdings on the business credit of the enterprises, and probes into the moderating effect of the regional financial development level on this kind of influence. The research shows that the business accounts payable, that is, the business credit acquired by the enterprise, has a significant positive correlation with the cash holding; the corporate receivables, that is, the business credit provided by the enterprise, have a significant negative correlation with the corporate cash holdings; in addition, there is a significant negative correlation between the business receivables and the cash holdings of the enterprises. The influence of local financial development on the correlation between corporate receivables and cash holdings is moderated. The higher the level of financial development, the stronger the substitution between corporate receivables and cash holdings.
【作者单位】：郑州工商学院;
【基金】：2017年河南省教育厅软科学项目“河南省农业企业融资问题研究”(项目编号:172400410196) 河南省社科联项目“河南省农业种养加一体化发展研究”(项目编号:SK1-2016-3685)的阶段性研究成果
【分类号】：F275;F832.51

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