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Measure Intensity of Cash holding Uncertainty and Uniformity between Macroeconomic policies and Accounting policies
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Hamed Esmaily   , Farzin Rezaei * , Fazel Mohammadi Nodeh , Mohammadreza Vatanparast |
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Abstract: (931 Views) |
| Cash-keeping strategy can determine the future and destiny of companies. Therefore, corporate managers should choose their corporate governance procedures according to government policies, because changes in government policies affect markets, including the stock market, and the consequent intensity of corporate cash retention. The purpose of this study is to investigate the effect of expansionary and contractionary policies in the monetary and financial spheres of government as an exogenous factor in the selection of accounting methods by the board as an endogenous factor on the severity of uncertainty in cash holdings. For this purpose, the data of 81 companies listed on the Tehran Stock Exchange and OTC during the years 1391 to 1396 were examined and tested through combined data. The results show that the compliance of fiscal and contractionary monetary policies and expansionary fiscal policies reduces the severity of uncertainty in cash holdings. There is also a negative and significant relationship between the interactive variable of inventory policies and expansionary monetary policies with the severity of uncertainty in holding cash. In addition, there is a negative and significant relationship between the variables of financing policies and expansionary fiscal policies with the intensity of uncertainty in maintaining cash. The results also showed that the adjustment of revaluation policies and contractionary monetary policies reduces the severity of uncertainty in cash holdings. |
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| Keywords: Intensity of Cash Holding Uncertainty, Macroeconomic Policies, Accounting Policies |
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Full-Text [PDF 724 kb]
(398 Downloads)
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Type of Study: Research |
Subject:
Accounting
Received: 2021/11/23 | Accepted: 2022/06/8 | Published: 2022/09/1
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