Abstract According to the industry classification of Chinese and American listed companies, the authors identified the industrial characteristics of firms' cash holding policy. The results show that unlike the situation in the US, the differences in the cash holding policies of Chinese listed companies are weak, but there is a tendency of gradual improvement. With reference to the historical track of industry distinction in firms' cash holding policy of American firms, it can be foreseen that Chinese firms' liquidity management tends to be rationalized with the improvement of governance environment.
LIU Bo-Xing,HAN Li-Yan. A Comparative Study of the Liquidity Management of Listed Companies in China and US——Findings Based on the Industrial Characteristics of Cash Holding. Economic Survey, 2011, 28(5): 0145.
2011, Vol. 28 
