Based on the unique cultural environment in China and from the unique perspective of the CFO (Chief Financial Officer) in corporate senior management, we systematically examine and analyze the impact of CFO status on corporate liquidity decisions. Using the data of A-share listed companies in the Shanghai Stock Exchange and Shenzhen Stock Exchange from 2014 to 2019 and empirical analysis, we find that the CFO status is a key to corporate governance, especially liquidity decisions. Our results show that CFO status influences the cash holding level while positively influencing the financial leverage. Our study helps improve corporate governance structure and the decision-making process.
liu ziquan(2022). Do CFO Statuses Influence Corporate Liquidity Decisions?-Evidence From China. Journal of New Economics and Finance, Volume 2, Issue 1, Page 11-24, Publish Date: 2022-08-19
The views expressed in this article are solely those of the author and do not represent the views of the journal or its editors. If you believe there are any inappropriate aspects in the content or viewpoints of the article, please click the "Feedback" button below the article and submit your comments as instructed.
English
Chinese