The Effect of Deviation from the Optimal Level of Cash Holding on the Marginal Value of Cash Holding
The purpose of the present research is to investigate the effect of deviation from the optimal level cash holding on the marginal value of cash holding. Statistical population of this research is companies listed on Tehran stock exchange, and statistical sample were selected between these companies...
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| Format: | Article |
| Language: | fas |
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Alzahra University
2016-08-01
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| Series: | راهبرد مدیریت مالی |
| Subjects: | |
| Online Access: | http://jfm.alzahra.ac.ir/article_2484_ab86ccfeb00372b5a51420dbe44268f4.pdf |
| _version_ | 1811339527392854016 |
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| author | Mehdi Meshki Mahyar Sanayeei Masuleh |
| author_facet | Mehdi Meshki Mahyar Sanayeei Masuleh |
| author_sort | Mehdi Meshki |
| collection | DOAJ |
| description | The purpose of the present research is to investigate the effect of deviation from the optimal level cash holding on the marginal value of cash holding. Statistical population of this research is companies listed on Tehran stock exchange, and statistical sample were selected between these companies that including 101 companies over the period 2010-2014.This research was used panel data, generalized least squares and multivariate regression to estimate and examine research models.This research is totally inductive and correlative from viewpoint of nature and aim.Results indicate that marginal value of cash is higher in firms with less optimal level of cash holding than firms with more optimal level of cash holding. On the other hand, results reveal that marginal value of cash in firms with positive excess cash is less than the face value of each Rial and also in firms with negative excess cash is more than the face value of each Rial. |
| first_indexed | 2024-04-13T18:28:03Z |
| format | Article |
| id | doaj.art-e28f1d1e71de4ffc862263947efd93e3 |
| institution | Directory Open Access Journal |
| issn | 2345-3214 2538-1962 |
| language | fas |
| last_indexed | 2024-04-13T18:28:03Z |
| publishDate | 2016-08-01 |
| publisher | Alzahra University |
| record_format | Article |
| series | راهبرد مدیریت مالی |
| spelling | doaj.art-e28f1d1e71de4ffc862263947efd93e32022-12-22T02:35:12ZfasAlzahra Universityراهبرد مدیریت مالی2345-32142538-19622016-08-014210312010.22051/jfm.2016.24842484The Effect of Deviation from the Optimal Level of Cash Holding on the Marginal Value of Cash HoldingMehdi Meshki0Mahyar Sanayeei Masuleh1payam noor universityislamic azad university of rashtThe purpose of the present research is to investigate the effect of deviation from the optimal level cash holding on the marginal value of cash holding. Statistical population of this research is companies listed on Tehran stock exchange, and statistical sample were selected between these companies that including 101 companies over the period 2010-2014.This research was used panel data, generalized least squares and multivariate regression to estimate and examine research models.This research is totally inductive and correlative from viewpoint of nature and aim.Results indicate that marginal value of cash is higher in firms with less optimal level of cash holding than firms with more optimal level of cash holding. On the other hand, results reveal that marginal value of cash in firms with positive excess cash is less than the face value of each Rial and also in firms with negative excess cash is more than the face value of each Rial.http://jfm.alzahra.ac.ir/article_2484_ab86ccfeb00372b5a51420dbe44268f4.pdfValue of CashCash HoldingCash ManagementFriction Market |
| spellingShingle | Mehdi Meshki Mahyar Sanayeei Masuleh The Effect of Deviation from the Optimal Level of Cash Holding on the Marginal Value of Cash Holding راهبرد مدیریت مالی Value of Cash Cash Holding Cash Management Friction Market |
| title | The Effect of Deviation from the Optimal Level of Cash Holding on the Marginal Value of Cash Holding |
| title_full | The Effect of Deviation from the Optimal Level of Cash Holding on the Marginal Value of Cash Holding |
| title_fullStr | The Effect of Deviation from the Optimal Level of Cash Holding on the Marginal Value of Cash Holding |
| title_full_unstemmed | The Effect of Deviation from the Optimal Level of Cash Holding on the Marginal Value of Cash Holding |
| title_short | The Effect of Deviation from the Optimal Level of Cash Holding on the Marginal Value of Cash Holding |
| title_sort | effect of deviation from the optimal level of cash holding on the marginal value of cash holding |
| topic | Value of Cash Cash Holding Cash Management Friction Market |
| url | http://jfm.alzahra.ac.ir/article_2484_ab86ccfeb00372b5a51420dbe44268f4.pdf |
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