The relationship between Cash Holdings and Firm Value: the moderating role of Financial Crisis
Publish Year: 1398
نوع سند: مقاله کنفرانسی
زبان: English
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شناسه ملی سند علمی:
FAMA02_099
تاریخ نمایه سازی: 23 بهمن 1398
Abstract:
In this paper, the relationship between cash holdings and firm value has been examined, also the moderating role of financial crisis has been studied. For this purpose, using a multiple regression model, the effect of the financial crisis on the relationship between the excess cash and the firm value is evaluated. The statistical population consists of all firms listed on Tehran Stock Exchange during 2011-2015. Using systematic elimination sampling method, 104 firms were selected as the statistical sample. The results show that financial crisis has no significant effect on the relationship between cash holdings and firm value.
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Authors
Hengameh Pourzad
Department of Accounting, Nour science and Research Branch, Islamic Azad University, Nour, Iran