TY - JOUR T1 - The relationship between Information asymmetry and level of cash holding of listed companies in Tehran Stock Exchange TT - بررسی ارتباط بین عدم تقارن اطلاعاتی و سطح نگه داشت وجه نقد در شرکت‌های پذیرفته شده در بورس اوراق بهادار تهران JF - raja-mta JO - raja-mta VL - 5 IS - 1 UR - http://mta.raja.ac.ir/article-1-131-en.html Y1 - 2015 SP - 23 EP - 38 KW - Information asymmetry KW - level of cash holding KW - panel data with fixed effects. N2 - 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. M3 ER -