试点ceo和企业现金持有

IF 3.1 3区经济学 Q2 BUSINESS, FINANCE

European Financial Management Pub Date : 2025-02-19 DOI:10.1111/eufm.12545

Lili Chen, Lingwei Li, Marvin Wee

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引用次数: 0

摘要

本研究考察了试点首席执行官（ceo）所表现出的一种人格特质，即情境意识，对公司现金政策的影响。我们的研究结果表明，由试点ceo领导的公司更有可能持有更高水平的现金，而这些公司具有更高的增长机会和更大的企业风险。研究结果表明，试点ceo有更强的形势意识，更有可能提前计划应对未来的流动性需求。我们还发现，他们的态势意识强度与飞行员认证水平有关，但在认证前后期间没有变化。

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Pilot CEOs and Corporate Cash Holdings

This study examines the effect of a personality trait exhibited by pilot chief executive officers (CEOs), that is, situation awareness, on corporate cash policies. Our results show that firms led by pilot CEOs are more likely to hold higher levels of cash for firms with higher growth opportunities and greater firm risks. The findings suggest that pilot CEOs have greater situation awareness and are more likely to plan ahead to cope with future liquidity needs. We also find that the strength of their situation awareness is associated with pilot certification levels but does not change between the pre- and post-certification periods.

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来源期刊

European Financial Management BUSINESS, FINANCE-

CiteScore

4.30

自引率

18.20%

发文量

期刊介绍： European Financial Management publishes the best research from around the world, providing a forum for both academics and practitioners concerned with the financial management of modern corporation and financial institutions. The journal publishes signficant new finance research on timely issues and highlights key trends in Europe in a clear and accessible way, with articles covering international research and practice that have direct or indirect bearing on Europe.