This paper empirically examines effect of changes expected cash balances on future performance . the main findings include : 1) higher deviation are associated with lower future return on assets (ROA) ; 2) the effect deviation on future ROA , is statically significant ; 3) deviation of expected cash balance on future ROA increases as the size of deviations increases . for implement research uses of 21 industry active on exchange Tehran on period 1383-1387 , that include 92 firms . Research use of panel data method . The findings indicate that deviation of cash balance influence on future ROA . And the aforementioned association is found in both positive and negative deviations ; the effect of negative deviation on future ROA is stronger than that of positive deviation . The paper also concludes the size of deviation are significantly effect on future ROA but deviation of expected cash balance , not significantly influence on future return on operating assets (RNOA) .
rezaei F, hemmati H, eslami K. Role of Changes in Expected Cash Balance on Firm’s Future Performance. 3 2011; 1 (1) :119-146 URL: http://mta.raja.ac.ir/article-1-32-en.html