The Impact of Deviation from Optimum Level of Cash Holding on Future Accumulated Abnormal Stock Returns

The optimum level of cash holdings in a company is the main issue of interest of managers in the recent years. This research concentrates on the effects of deviation from optimum level of cash holding on the future accumulated abnormal stock returns. In this study a sample of 71 companies from Tehra...

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Autores principales:	Mehdi Nazemi Ardkani, Hamid Zarea HossianAbadi
Formato:	article
Lenguaje:	FA
Publicado:	Shahid Bahonar University of Kerman 2016
Materias:	optimum cash deviation of optimum level of cash holding accumulated abnormal stock return Accounting. Bookkeeping HF5601-5689
Acceso en línea:	https://doaj.org/article/02c38e49d2d14fd8b5953fbe217c6b58
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spelling	oai:doaj.org-article:02c38e49d2d14fd8b5953fbe217c6b582021-11-04T19:50:47ZThe Impact of Deviation from Optimum Level of Cash Holding on Future Accumulated Abnormal Stock Returns2008-89142476-292X10.22103/jak.2016.1437https://doaj.org/article/02c38e49d2d14fd8b5953fbe217c6b582016-05-01T00:00:00Zhttps://jak.uk.ac.ir/article_1437_17bea874e67e7ab7d984466b44269881.pdfhttps://doaj.org/toc/2008-8914https://doaj.org/toc/2476-292XThe optimum level of cash holdings in a company is the main issue of interest of managers in the recent years. This research concentrates on the effects of deviation from optimum level of cash holding on the future accumulated abnormal stock returns. In this study a sample of 71 companies from Tehran Stock Exchange for the period of 2008 to 2013 was selected. To test the hypotheses, a model of generalized least squares and the panel data method have been used. Results from this study showed that the absolute values of deviation from optimum level of cash holdings do not have negative impact on the cumulative abnormal stock returns. The negative values of deviation from the optimum level of cash holdings lack meaningful relationship with the cumulative abnormal stock returns. The positive values of deviation from the optimum level of cash holdings do not have negative impact on the cumulative abnormal stock returns.Mehdi Nazemi ArdkaniHamid Zarea HossianAbadiShahid Bahonar University of Kermanarticleoptimum cashdeviation of optimum level of cash holdingaccumulated abnormal stock returnAccounting. BookkeepingHF5601-5689FAمجله دانش حسابداری, Vol 7, Iss 24, Pp 137-154 (2016)
institution	DOAJ
collection	DOAJ
language	FA
topic	optimum cash deviation of optimum level of cash holding accumulated abnormal stock return Accounting. Bookkeeping HF5601-5689
spellingShingle	optimum cash deviation of optimum level of cash holding accumulated abnormal stock return Accounting. Bookkeeping HF5601-5689 Mehdi Nazemi Ardkani Hamid Zarea HossianAbadi The Impact of Deviation from Optimum Level of Cash Holding on Future Accumulated Abnormal Stock Returns
description	The optimum level of cash holdings in a company is the main issue of interest of managers in the recent years. This research concentrates on the effects of deviation from optimum level of cash holding on the future accumulated abnormal stock returns. In this study a sample of 71 companies from Tehran Stock Exchange for the period of 2008 to 2013 was selected. To test the hypotheses, a model of generalized least squares and the panel data method have been used. Results from this study showed that the absolute values of deviation from optimum level of cash holdings do not have negative impact on the cumulative abnormal stock returns. The negative values of deviation from the optimum level of cash holdings lack meaningful relationship with the cumulative abnormal stock returns. The positive values of deviation from the optimum level of cash holdings do not have negative impact on the cumulative abnormal stock returns.
format	article
author	Mehdi Nazemi Ardkani Hamid Zarea HossianAbadi
author_facet	Mehdi Nazemi Ardkani Hamid Zarea HossianAbadi
author_sort	Mehdi Nazemi Ardkani
title	The Impact of Deviation from Optimum Level of Cash Holding on Future Accumulated Abnormal Stock Returns
title_short	The Impact of Deviation from Optimum Level of Cash Holding on Future Accumulated Abnormal Stock Returns
title_full	The Impact of Deviation from Optimum Level of Cash Holding on Future Accumulated Abnormal Stock Returns
title_fullStr	The Impact of Deviation from Optimum Level of Cash Holding on Future Accumulated Abnormal Stock Returns
title_full_unstemmed	The Impact of Deviation from Optimum Level of Cash Holding on Future Accumulated Abnormal Stock Returns
title_sort	impact of deviation from optimum level of cash holding on future accumulated abnormal stock returns
publisher	Shahid Bahonar University of Kerman
publishDate	2016
url	https://doaj.org/article/02c38e49d2d14fd8b5953fbe217c6b58
work_keys_str_mv	AT mehdinazemiardkani theimpactofdeviationfromoptimumlevelofcashholdingonfutureaccumulatedabnormalstockreturns AT hamidzareahossianabadi theimpactofdeviationfromoptimumlevelofcashholdingonfutureaccumulatedabnormalstockreturns AT mehdinazemiardkani impactofdeviationfromoptimumlevelofcashholdingonfutureaccumulatedabnormalstockreturns AT hamidzareahossianabadi impactofdeviationfromoptimumlevelofcashholdingonfutureaccumulatedabnormalstockreturns
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The Impact of Deviation from Optimum Level of Cash Holding on Future Accumulated Abnormal Stock Returns

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