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:: Volume 5, Issue 1 (modern theories of accounting,spring 2015,vol.5,no.1,ser.15 2015) ::
3 2015, 5(1): 23-38 Back to browse issues page
The relationship between Information asymmetry and level of cash holding of listed companies in Tehran Stock Exchange
Gholam Hossein Golarzi , Sadegh Sarbazi Azad
Abstract:   (352 Views)
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 74 companies listed in Tehran Stock Exchange from 1388 to 1392 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.
Keywords: Information asymmetry, level of cash holding, panel data with fixed effects.
Full-Text [PDF 578 kb]   (1 Downloads)    
Type of Study: Research | Subject: General
Received: 2015/03/9 | Accepted: 2015/06/27 | Published: 2015/03/21
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Golarzi G H, Sarbazi Azad S. The relationship between Information asymmetry and level of cash holding of listed companies in Tehran Stock Exchange. 3. 2015; 5 (1) :23-38
URL: http://mta.raja.ac.ir/article-1-131-en.html


Volume 5, Issue 1 (modern theories of accounting,spring 2015,vol.5,no.1,ser.15 2015) Back to browse issues page
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