Investigating the Impact of Political Uncertainty on Cash Holdings

Objective: The purpose of this study is to investigate the effects of political uncertainty, resulting from the years of presidential election, on management decisions, regarding the level and market value of cash holdings in the period 2008 to 2017 in the companies listed in the Tehran Stock Exchan...

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Autores principales:	Mehran Matinfard (Ph.D), MohammadReza Ola (Ph.D), Maryam Minab
Formato:	article
Lenguaje:	FA
Publicado:	Shahid Bahonar University of Kerman 2020
Materias:	political uncertainty cash holdings market value of cash holdings Accounting. Bookkeeping HF5601-5689
Acceso en línea:	https://doaj.org/article/81ed890c266c438597b473ca9141dcf6
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spelling	oai:doaj.org-article:81ed890c266c438597b473ca9141dcf62021-11-04T19:55:28ZInvestigating the Impact of Political Uncertainty on Cash Holdings2008-89142476-292X10.22103/jak.2020.13107.2850https://doaj.org/article/81ed890c266c438597b473ca9141dcf62020-04-01T00:00:00Zhttps://jak.uk.ac.ir/article_2508_5c3c670ccfea0989fea5b58c187c30fd.pdfhttps://doaj.org/toc/2008-8914https://doaj.org/toc/2476-292XObjective: The purpose of this study is to investigate the effects of political uncertainty, resulting from the years of presidential election, on management decisions, regarding the level and market value of cash holdings in the period 2008 to 2017 in the companies listed in the Tehran Stock Exchange. According to the research time period, the years 2009, 2012 and 2017 were selected as the years with high political uncertainty. Method: According to the purpose of the study, this research is an applied one. In this research, with regard to the type of data and the common method of analysis with such data, the pooled data method has been used. Result: Empirical evidence from the test of research hypotheses suggested that the political uncertainty resulting from the presidential election has a significant effect on the level and market value of company's cash holdings. Also, research findings indicated when there is uncertainty in the presidential election years, the marginal value of cash holdings decreases. Conclusion: In response to political uncertainties, companies are influenced by specific decisions about the amount of cash holdings that in turn affect the level and market value of cash holdings.Mehran Matinfard (Ph.D)MohammadReza Ola (Ph.D)Maryam MinabShahid Bahonar University of Kermanarticlepolitical uncertaintycash holdingsmarket value of cash holdingsAccounting. BookkeepingHF5601-5689FAمجله دانش حسابداری, Vol 11, Iss 1, Pp 113-134 (2020)
institution	DOAJ
collection	DOAJ
language	FA
topic	political uncertainty cash holdings market value of cash holdings Accounting. Bookkeeping HF5601-5689
spellingShingle	political uncertainty cash holdings market value of cash holdings Accounting. Bookkeeping HF5601-5689 Mehran Matinfard (Ph.D) MohammadReza Ola (Ph.D) Maryam Minab Investigating the Impact of Political Uncertainty on Cash Holdings
description	Objective: The purpose of this study is to investigate the effects of political uncertainty, resulting from the years of presidential election, on management decisions, regarding the level and market value of cash holdings in the period 2008 to 2017 in the companies listed in the Tehran Stock Exchange. According to the research time period, the years 2009, 2012 and 2017 were selected as the years with high political uncertainty. Method: According to the purpose of the study, this research is an applied one. In this research, with regard to the type of data and the common method of analysis with such data, the pooled data method has been used. Result: Empirical evidence from the test of research hypotheses suggested that the political uncertainty resulting from the presidential election has a significant effect on the level and market value of company's cash holdings. Also, research findings indicated when there is uncertainty in the presidential election years, the marginal value of cash holdings decreases. Conclusion: In response to political uncertainties, companies are influenced by specific decisions about the amount of cash holdings that in turn affect the level and market value of cash holdings.
format	article
author	Mehran Matinfard (Ph.D) MohammadReza Ola (Ph.D) Maryam Minab
author_facet	Mehran Matinfard (Ph.D) MohammadReza Ola (Ph.D) Maryam Minab
author_sort	Mehran Matinfard (Ph.D)
title	Investigating the Impact of Political Uncertainty on Cash Holdings
title_short	Investigating the Impact of Political Uncertainty on Cash Holdings
title_full	Investigating the Impact of Political Uncertainty on Cash Holdings
title_fullStr	Investigating the Impact of Political Uncertainty on Cash Holdings
title_full_unstemmed	Investigating the Impact of Political Uncertainty on Cash Holdings
title_sort	investigating the impact of political uncertainty on cash holdings
publisher	Shahid Bahonar University of Kerman
publishDate	2020
url	https://doaj.org/article/81ed890c266c438597b473ca9141dcf6
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Investigating the Impact of Political Uncertainty on Cash Holdings

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