The Current Situation Of Listed Companies Buying Huge Amounts Of Bank Wealth Management Products And Influencing Factors

On the one hand,listed companies in China have difficulties in financing.On the other hand,there are a large number of companies buying huge amounts of bank wealth management products.In 2018,there are 1160 listed companies have purchased 1437.72 billion yuan of bank wealth management products.Discussing this current situation and influencing factors of listed companies purchasing huge amounts of bank wealth management products,it is significance for us to correctly understand this phenomenon and guide the funs flow of companies.This article starts with the basic situation of over-purchasing bank wealth management products by listed companies.Through theoretical analysis,it studies the influencing factors of listed companies' over-purchasing of bank wealth management products,and then proceeds to the case of new listed company Yangyuan beverages that over-purchased bank wealth management products in 2018.Firstly,this paper summarizes the situation of listed banks' purchase of bank wealth management products from 2011 to 2018,and analyzes the assets and performance,shareholding structure,industry distribution and equity of listed companies in 2017 when they purchase huge amounts of bank wealth management products.Behavioral characteristics presented in financing.Then,combined with agency theory,preventive motivation demand theory and China's listing system,it analyzes the sources of funds used by listed companies to over-purchase bank wealth management products,as well as management and shareholders,major shareholders and minority shareholders and business operations liabilities and the environment.How certainty affects the behavior of companies over-purchasing bank wealth management products.Finally,through the case of Yangyuan Beverage,it is verified that the listing system,industry uncertainty and business operation have affected the company's excessive purchase of bank wealth management products.The contribution of this paper is mainly to discuss the factors that actually affect the cash holding of enterprises under the current situation of Chinese enterprises' financing difficulties on the one hand,and the huge amount of bank wealth management products.This reflects the necessity of China's economic structural transformation in the new era.It provides an opportunity for us to observe and evaluate the operational efficiency of China's capital market from a new perspective.The shortcoming of this paper is that due to the case study,there is no empirical analysis on the role of various factors in purchasing huge amounts of bank wealth management products,and there is a lack of long-term follow-up of the business conditions of enterprises after purchasing huge amounts of bank wealth management products.