Digital Finance and Corporate Cash-Holding Strategy: Organizational Heterogeneity and Strategic Transmission Channels

This study examined the impact of digital finance on corporate cash holdings and influence organizational structure strategy, using example A-share-listed companies in China from 2011 to 2018. The results showed that significantly reduced level listed companies; compared with Group Holding Company Limited, independent enterprises was more pronounced; degree strategic radicalization companies, then companies. reliability empirical validated dynamic panel model, instrumental variable analysis, other sensitivity tests. findings have implications for guidance development adjustment holdings.