The Investigation of Cash Holding and Short-term Loan

• Main Authors: Ching-Yun Tsai, 蔡青芸
• Other Authors: Chih-Chung Chien
• Format: Others
• Language: zh-TW
• Published: 2015
• Online Access: http://ndltd.ncl.edu.tw/handle/16424876688602884800

碩士 === 亞洲大學 === 財務金融學系碩士在職專班 === 103 === This study employs the logistic and multivariable regressions to investigate whether operating performance, dividend payout, leverage and corporate governance have influences on enterprise’s cash holding and short-term loan policy. The results shows that enterprises tend to have a large excess cash holding which is positively correlated to short-term loan because of its long age, cash dividend payout and duality of chairman and managing director. Moreover, enterprise prefer to increase its short-term loans when it have a high return on equity, leverage and deviation of earning shares.