Proceedings of the 3rd International Conference on Internet Finance and Digital Economy (ICIFDE 2023)

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An analysis of the influence of actual controllers on cash holding decisions-based on the data of Chinese private listed companies

Authors
ManDan Cao1, *, ZhiHua Gan1, Juan Cheng1
1Department of economic and social management, Maanshan Teacher’s College, Maanshan, 243041, China
*Corresponding author. Email: 489451675@qq.com
Corresponding Author
ManDan Cao
Available Online 29 October 2023.
DOI
10.2991/978-94-6463-270-5_35How to use a DOI?
Keywords
ultimate conctroller ,voting right,serving as managers; cashholdings
Abstract

The level of cash holding is directly related to the survival and development of Chinese private enterprises. The ultimate controller can affect the level of cash holding of enterprises, but the existing research conclusions are inconsistent on the mechanism of the influence. Based on the cash holding agency cost theory, analyze how the ultimate controller’s power (voting right or whether serving as the executive) affects corporate cash holding. Ultimate controllers of Chinese private listed companies mainly plunder resources from the companies under their control.In order to ensure the reasonable level of cash holdings of private enter-prises, and protect the interests of minority shareholders, the government should strengthen supervision over private enterprises,and investors should focus on enterprises with high control rights and whos actual controllers concurrently serve as directors or managers.

Copyright
© 2023 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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Volume Title
Proceedings of the 3rd International Conference on Internet Finance and Digital Economy (ICIFDE 2023)
Series
Atlantis Highlights in Economics, Business and Management
Publication Date
29 October 2023
ISBN
10.2991/978-94-6463-270-5_35
ISSN
2667-1271
DOI
10.2991/978-94-6463-270-5_35How to use a DOI?
Copyright
© 2023 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

Cite this article

risenwbib
TY  - CONF
AU  - ManDan Cao
AU  - ZhiHua Gan
AU  - Juan Cheng
PY  - 2023
DA  - 2023/10/29
TI  - An analysis of the influence of actual controllers on cash holding decisions-based on the data of Chinese private listed companies
BT  - Proceedings of the 3rd International Conference on Internet Finance and Digital Economy (ICIFDE 2023)
PB  - Atlantis Press
SP  - 321
EP  - 327
SN  - 2667-1271
UR  - https://doi.org/10.2991/978-94-6463-270-5_35
DO  - 10.2991/978-94-6463-270-5_35
ID  - Cao2023
ER  -