غلام حسین گل ارضی
صادق سربازی آزاد

The purpose of this study is investigate the relation between Information asymmetry and level of cash holding of listed companies in Tehran Stock Exchange. To do so, the financial information of ۷۴ companies listed in Tehran Stock Exchange from ۱۳۸۸ to ۱۳۹۲ was investigated. Multiple regression with panel data with fixed effects was used to analyze the relation between Information asymmetry and level of cash holding. The results show that there is no significant relationship between Information asymmetry and level of cash holding. Other results indicate that, Sales growth, firm size, cash flow and Taxes has positive effect on level of cash holding and net working capital has negative effect on level of cash holding.

Information asymmetry, level of cash holding, panel data with fixed effects., عدم تقارن اطلاعاتی, سطح نگه داشت وجه نقد, داده های تابلویی با اثرات ثابت.