The current research examines the effect of political communication on the value of cash with the mediating role of agency costs, and it is practical in terms of its purpose, and it is a causal (post-event) correlation methodology. The statistical population of the research is all the companies admitted to the Tehran Stock Exchange and using the systematic elimination sampling method, 133 companies were selected as the research sample and were investigated in the 10-year period between 1392 and 1401. The method used to collect information is a library, and the relevant data for measuring the variables were collected from the Kodal website and the financial statements of the companies, and initial calculations were made in Excel, then to test the hypotheses of the research, Stata software version 17 and multiple regression with a panel data model were used. has been The results of the research show that political communication has a direct effect on agency costs. Political connections have a direct effect on the value of cash. Also, agency fees have a direct impact on cash value. Political connections have a direct effect on cash value through agency costs.