List of Articles ارزش نگهداشت وجه نقد

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  1 - Internal Control Weaknesses and Market Value of Cash Holdings Department of Accounting, Payame Noor University (PNU), Tehran, Iran
  Davood Hassanpour Mehdi Safari Gerayli
  The existence of weak internal controls provides directors to engage in opportunistic exploitation of corporate cash resources. As such, corporate cash holding is anticipated to increase investors' concerns, which, in turn, leads to the underestimation of corporate cash More

  The existence of weak internal controls provides directors to engage in opportunistic exploitation of corporate cash resources. As such, corporate cash holding is anticipated to increase investors' concerns, which, in turn, leads to the underestimation of corporate cash value in the market. Accordingly, the present study examines the effect of internal control weaknesses on the market value of cash holdings. In doing so, Faulkender & Wang (2006) model was used to measure the market value of cash holdings. The research hypothesis was tested based on a sample of 97 firms listed on the Tehran stock exchange during the years 1391 to 1395 and using multiple regression model based on panel data techniques. The results indicate that presence of internal control weaknesses reduces the market value of corporate cash holdings. This suggests that investors undervalue the cash held in the firms with weak internal controls. Manuscript profile
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  2 - Investigate the relationship between management ability and financial constraints and cash holding value
  alireza hassan maleki ali haghani
  AbstractThe purpose of this research is to investigate the relationship between management ability with financial constraints and cash holding value. Demarjian et al.'s model was used to measure management ability, Falkander and Wong's model was used to measure cash hol More

  AbstractThe purpose of this research is to investigate the relationship between management ability with financial constraints and cash holding value. Demarjian et al.'s model was used to measure management ability, Falkander and Wong's model was used to measure cash holding value, and White and Wu's index was used to measure financial constraints. The statistical population of the research was all the companies admitted to the Tehran Stock Exchange in the period from 2014 to 2019, and the purposeful elimination method was used to determine the size of the statistical sample. Finally, 151 companies were selected as a statistical sample. The statistical results showed that management ability in companies reduces financial restrictions and improves cash holding value. Hence, it can be concluded that the ability of management becomes an important factor in improving the company's investment decisions and the efficiency of its operations. The selection of capable managers has led to an increase in efficiency and productivity in the company, which can lead to the success of the company in the industry. Manuscript profile
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  3 - The Impact of Strategic Deviance on Corporate Cash Holdings
  Younes Badavar Nahandi Shahla Abbaszadeh Elmira Shahamifar
  Today, the amount of cash assets held by companies and its affecting factors are the important issues that have been considered in the financial literature. Therefore, the purpose of this study is to determine the effect of strategic deviation on the level and value of More

  Today, the amount of cash assets held by companies and its affecting factors are the important issues that have been considered in the financial literature. Therefore, the purpose of this study is to determine the effect of strategic deviation on the level and value of cash holdings. This research is an applied research in terms of purpose, causal research in terms of methodology, and is post- event in terms of research time. Research hypotheses were analyzed using a sample of 120 companies accepted in Tehran Stock Exchange during 2014-2020 and using multi-variable regression model based on panel data techniques using Stata and Excel softwares. The results show that the strategic deviation has a significant and negative effect on cash holding, but it does not affect the value of cash holding in the market. It can be concluded that amount of deviation in the operations of a company compared to industry can be caused by incentive trading and it does not affect the value of holding cash fund of the company in the general. Manuscript profile