Search

Affected by the fluctuation of the market and economic environment during the epidemic period, the capital pressure of companies has increased sharply, which increases the possibility of risk transmission in the same industry and poses new challenges to the operation and financing of companies. From the perspective of preventive motivation of corporate cash holding, we creatively use the industry working capital shortfall as the explanatory variable to construct an Extended Cash Holding Model and a Cash Holding Value Regression Model. Taking the panel data of A-share listed companies in Shanghai and Shenzhen as samples, this paper uses the Classical Linear Regression Model and Fixed Effects Regression Model to study the relationship between industry working capital shortfall and cash holdings in the same industry, as well as the relationship between industry working capital shortfall and cash holding value. The empirical results show that industry working capital shortfall has an important impact on the cash holding level within the same industry, and the cash holding level is significantly and positively correlated with industry working capital shortfall. Moreover, this study also reveals that the industry working capital shortfall has a dual impact on cash holdings. Specifically, the higher the risk of industry working capital shortfall, the lower the value of company cash holdings. The conclusions of this paper not only extend the research on cash holding but also provide support and reference for companies to optimize the cash holding value. [ABSTRACT FROM AUTHOR]

Affected by the fluctuation of the market and economic environment during the epidemic period, the capital pressure of companies has increased sharply, which increases the possibility of risk transmission in the same industry and poses new challenges to the operation and financing of companies. From the perspective of preventive motivation of corporate cash holding, we creatively use the industry working capital shortfall as the explanatory variable to construct an Extended Cash Holding Model and a Cash Holding Value Regression Model. Taking the panel data of A-share listed companies in Shanghai and Shenzhen as samples, this paper uses the Classical Linear Regression Model and Fixed Effects Regression Model to study the relationship between industry working capital shortfall and cash holdings in the same industry, as well as the relationship between industry working capital shortfall and cash holding value. The empirical results show that industry working capital shortfall has an important impact on the cash holding level within the same industry, and the cash holding level is significantly and positively correlated with industry working capital shortfall. Moreover, this study also reveals that the industry working capital shortfall has a dual impact on cash holdings. Specifically, the higher the risk of industry working capital shortfall, the lower the value of company cash holdings. The conclusions of this paper not only extend the research on cash holding but also provide support and reference for companies to optimize the cash holding value. [ABSTRACT FROM AUTHOR]

Promoting the innovative development of cities in the metropolitan area holds great significance for China's implementation of the "innovation-driven development" strategy. According to symbiosis theory, this paper constructed a city-based Lotka-Volterra symbiosis model and innovation-level index system. We used the Shanghai metropolitan area as a sample for empirical analysis to explore the evolution of the comprehensive development level of urban innovation under different symbiotic relationships. The research results showed that under a reciprocal relationship, the innovative development of core city and node cities was higher than the actual level; under a mutual inhibition symbiosis or parasitic symbiotic relationship, the innovative development of core city and node cities was lower than the actual level; and under an independent symbiotic relationship, the innovative development of the core city was higher than the actual level, while that of the node cities was lower than the actual level. [ABSTRACT FROM AUTHOR]

Promoting the innovative development of cities in the metropolitan area holds great significance for China's implementation of the "innovation-driven development" strategy. According to symbiosis theory, this paper constructed a city-based Lotka-Volterra symbiosis model and innovation-level index system. We used the Shanghai metropolitan area as a sample for empirical analysis to explore the evolution of the comprehensive development level of urban innovation under different symbiotic relationships. The research results showed that under a reciprocal relationship, the innovative development of core city and node cities was higher than the actual level; under a mutual inhibition symbiosis or parasitic symbiotic relationship, the innovative development of core city and node cities was lower than the actual level; and under an independent symbiotic relationship, the innovative development of the core city was higher than the actual level, while that of the node cities was lower than the actual level. [ABSTRACT FROM AUTHOR]