Work

Population aging and corporate cash holdings: Empirical evidence from Chinese listed companies

Year: 2024

Type: article

Abstract: This study examines the effect of population aging on corporate cash holdings using a sample of Chinese A-share listed firms from 2007 to 2021. These results indicate that population aging increases corporate cash holdings. The mechanism analysis suggests that increased labor adjustment costs and intensified labor market competition are realistic paths through which population aging affects corporate cash holdings. We also find that the impact of population aging on corporate cash holdings is more significant when firms are labor intensive, state-owned, digitally less transformed, financially constrained, and have a lower market position.

Source: Borsa Istanbul Review

DOI: 10.1016/j.bir.2024.12.007

Authors: Yue Zhang, Qizhen Zhang

Institutions: Jiangxi University of Water Resources and Electric Power, Nanchang Institute of Technology, Jiangxi University of Finance and Economics

Language: English

Topic: Corporate Finance and Governance

Subfield: Accounting

Field: Business, Management and Accounting

Domain: Social Sciences

SDG: Decent work and economic growth

Open Access status: gold

Estimated APC paid: $1,500