董事会特征对现金持有价值的影响研究  

The Influence of Board Characteristics on the Value of Cash Holdings

作　　者：田笑丰[1] 陈巧[1] 

机构地区：[1]武汉科技大学管理学院

出　　处：《财会通讯（下）》2016年第4期48-51,129,共4页Communication of Finance and Accounting

摘　　要：本文从董事会治理角度出发,以2009-2013年中国沪深A股上市公司为样本,分析了董事会特征与现金持有价值的关系。研究表明:董事会规模、独立董事比例与现金持有价值显著负相关;而董事会会议次数、董事会成员持股比例对现金持有价值并没有显著影响。This paper analyzed the relationship between board characteristics and the value of cash holdings with China's Shanghai and shenzhen A-share listed companies as samples from the perspective of the board of directors governance.The results of the study are as follows:the board size and the proportion of independent director has negative influence on the value of cash holdings,while,the number of board meeting and members of the board of directors' s stake has no significant effects on the value of cash holdings.

关 键 词：董事会规模 董事会会议次数 董事会持股比例 独立董事比例 现金持有价值 

分 类 号：F271[经济管理—企业管理] F275.1[经济管理—国民经济]