This study investigates the relationship between information asymmetry and cash flow sensitivity of cash in companies accepted in Tehran's Stock Exchange. Cash flow sensitivity of cash refers to the percentage of changes in levels of cash holdings in liability to changes in operating cash flows. To measure information asymmetry, the price gap between supply and demand of shares has been used. This study is of the correlation type and is based on combined data analysis. In this study, the financial information of 108 companies accepted in Tehran's Stock Exchange during the period of 2006 to 2012 has been investigated. The results of the research hypothesis test are indicative of the effectiveness of information asymmetry in the cash flow sensitivity of cash so that by entry of the information asymmetry criterion, the cash flow sensitivity of cash decreases.
کلید واژگان :information asymmetry, cash flow sensitivity of cash, levels of cash holdings, price gap between supply and demand of the shares
ارزش ریالی : 600000 ریال
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