董事会特征与企业现金持有水平的实证研究  

作　　者：徐新华[1] 王怡鸿[2] 

机构地区：[1]南昌大学经济与管理学院会计系 [2]南昌大学经济与管理学院

出　　处：《企业经济》2012年第8期160-163,共4页Enterprise Economy

摘　　要：利用我国2002-2006年上市公司的会计数据和公司治理数据,从董事会特征的视角出发,实证研究了董事长与总经理两职兼任情况、女性董事比率、董事会规模、独立董事比率、董事持股比率、董事会会议次数与现金持有水平的相关关系。结果表明:董事持股比率、独立董事比率、两职兼任情况、女性董事比率、董事会规模与企业现金持有水平显著正相关;董事会会议次数与现金持有水平显著负相关。Based on the accounting data and the corporate governance data about the listed companies during a period of 2000 - 2006 in China. From the perspective of board characteristics, this paper empirically studied the pluralism of CEO and chairman, and the relationship between the cash holding level and the proportion of women directors, board size, the proportion of inde- pendent directors, the proportion of directors＇ shareholding, and the relationship between the cash holding level the number of board meetings. The results indicates that the proportion of directors＇ shareholding, the proportion of independent directors, the pluralism of CEO and chairman, the proportion of women directors, and board size are positively related with enterprise cash holding level; the number of board meetings is obviously negatively related with cash holding level.

关 键 词：董事会特征 女性董事 现金持有水平 

分 类 号：F271.5[经济管理—企业管理]