| Issue |
SHS Web of Conferences
Volume 24, 2016
2015 International Seminar on Social Science and Humanistic Education (SSHE 2015)
|
|
|---|---|---|
| Article Number | 01013 | |
| Number of page(s) | 4 | |
| Section | Social science | |
| DOI | https://doi.org/10.1051/shsconf/20162401013 | |
| Published online | 05 February 2016 | |
Corporate liquidity and firm value: evidence from China’s listed firms
1 School of Economics, Jinan University, Guangzhou, Guangdong, China
2 College of Economics and Management, South China Normal University, Guangzhou, Guangdong, China
* Corresponding author: 775086027@qq.com
The value of liquidity is a promising area for research. This paper analyzes the correlation be-tween corporate liquidity and firm value by using evidence from China’s listed firms. This paper also investigates the relation among corporate liquidity, R&D and firm size. The authors find that firm’s sufficient liquidity can increase its market value. However, corporate liquidity has insignificant effect on firm’s R&D. What’s more, the authors further find that corporate liquidity also has diseconomies of scale. Excess corporate liquidity may ad-versely affect market value of large firms.
Key words: liquidity / firm value / R&D / firm size
© Owned by the authors, published by EDP Sciences, 2016
This is an Open Access article distributed under the terms of the Creative Commons Attribution License 4.0, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
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