Abstract
Because of the difficulty of corporate cash flow forecasting and cash demand forecasting, the corporate cash holding decisions have always been a focus in theory and practice. This paper constructs corporate cash holding patterns by combining the two basic characteristics of cash holding level and volatility, and uses the dynamic panel model to test the impact of different cash holding patterns on corporate performance. The research findings reveal that there are significant differences in the impact of different cash holding patterns on corporate performance, with the stable and normal-level cash holding pattern having the greatest positive impact, while volatile and low-level cash holding pattern proved to be greatest negative impacts.
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