Assessment of Cash Flow Sensitivity of Cash Holdings

The objective of this study is to evaluate changes in the level of cash holdings in response to corporates’ cash flows. For this, using financial information of a sample consisting of 118 companies listed in the Tehran Stock Exchange in the period 2006-2011, the sensitivity of cash flows of cash hol...

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Autores principales:	Mahdi Moradi, Hojjat Hatefi Majoumerd
Formato:	article
Lenguaje:	FA
Publicado:	Shahid Bahonar University of Kerman 2015
Materias:	cash flow sensitivity of cash cash holdings financial constraints institutional shareholders external monitoring Accounting. Bookkeeping HF5601-5689
Acceso en línea:	https://doaj.org/article/3ffb7d5d1959406880fb1a095783029f
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spelling	oai:doaj.org-article:3ffb7d5d1959406880fb1a095783029f2021-11-04T19:47:29ZAssessment of Cash Flow Sensitivity of Cash Holdings2008-89142476-292X10.22103/jak.2015.884https://doaj.org/article/3ffb7d5d1959406880fb1a095783029f2015-03-01T00:00:00Zhttps://jak.uk.ac.ir/article_884_aad48faa7dcaea57c73a75d574fb7f2d.pdfhttps://doaj.org/toc/2008-8914https://doaj.org/toc/2476-292XThe objective of this study is to evaluate changes in the level of cash holdings in response to corporates’ cash flows. For this, using financial information of a sample consisting of 118 companies listed in the Tehran Stock Exchange in the period 2006-2011, the sensitivity of cash flows of cash holdings was studied, regarding three aspects of: cash flows types (positive or negative), financial constraints, and external monitoring. This study is an applied research and takes regression method of panel data to test hypotheses. The findings showed that there was no difference in the cash flow sensitivity of cash in the two cases that companies face with a positive or a negative cash flows. Also, there was no difference between the cash flow sensitivity of cash in the cases of financially constrained and financially unconstrained. Additionally the findings showed that for the companies with stronger external monitoring the cash flow sensitivity of cash was not greater than that for the other companiesMahdi MoradiHojjat Hatefi MajoumerdShahid Bahonar University of Kermanarticlecash flow sensitivity of cashcash holdingsfinancial constraintsinstitutional shareholdersexternal monitoringAccounting. BookkeepingHF5601-5689FAمجله دانش حسابداری, Vol 5, Iss 19, Pp 51-73 (2015)
institution	DOAJ
collection	DOAJ
language	FA
topic	cash flow sensitivity of cash cash holdings financial constraints institutional shareholders external monitoring Accounting. Bookkeeping HF5601-5689
spellingShingle	cash flow sensitivity of cash cash holdings financial constraints institutional shareholders external monitoring Accounting. Bookkeeping HF5601-5689 Mahdi Moradi Hojjat Hatefi Majoumerd Assessment of Cash Flow Sensitivity of Cash Holdings
description	The objective of this study is to evaluate changes in the level of cash holdings in response to corporates’ cash flows. For this, using financial information of a sample consisting of 118 companies listed in the Tehran Stock Exchange in the period 2006-2011, the sensitivity of cash flows of cash holdings was studied, regarding three aspects of: cash flows types (positive or negative), financial constraints, and external monitoring. This study is an applied research and takes regression method of panel data to test hypotheses. The findings showed that there was no difference in the cash flow sensitivity of cash in the two cases that companies face with a positive or a negative cash flows. Also, there was no difference between the cash flow sensitivity of cash in the cases of financially constrained and financially unconstrained. Additionally the findings showed that for the companies with stronger external monitoring the cash flow sensitivity of cash was not greater than that for the other companies
format	article
author	Mahdi Moradi Hojjat Hatefi Majoumerd
author_facet	Mahdi Moradi Hojjat Hatefi Majoumerd
author_sort	Mahdi Moradi
title	Assessment of Cash Flow Sensitivity of Cash Holdings
title_short	Assessment of Cash Flow Sensitivity of Cash Holdings
title_full	Assessment of Cash Flow Sensitivity of Cash Holdings
title_fullStr	Assessment of Cash Flow Sensitivity of Cash Holdings
title_full_unstemmed	Assessment of Cash Flow Sensitivity of Cash Holdings
title_sort	assessment of cash flow sensitivity of cash holdings
publisher	Shahid Bahonar University of Kerman
publishDate	2015
url	https://doaj.org/article/3ffb7d5d1959406880fb1a095783029f
work_keys_str_mv	AT mahdimoradi assessmentofcashflowsensitivityofcashholdings AT hojjathatefimajoumerd assessmentofcashflowsensitivityofcashholdings
_version_	1718444585898737664

Assessment of Cash Flow Sensitivity of Cash Holdings

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