@article { author = {Askari Kopani, Ahmadreza and Lajevardi, Sayed Ali}, title = {Determination the Impact of Cash Holdings and Financing on Investment-Cash Flow Sensitivity}, journal = {Accounting and Auditing Research}, volume = {10}, number = {37}, pages = {181-194}, year = {2018}, publisher = {Licence Holder Iranian Accounting Association Director & Editor-in-chief Ali Saghafi(PhD) Director & General Secretary Naser Partovi Editorial Assistant Maryam Asgharzadeh Badr}, issn = {2251-8428}, eissn = {}, doi = {}, abstract = {Companies with limited financing in order to take advantage of profitable investment opportunities in the future and prevent the unexpected failure to take advantage of investment opportunities, much of that accumulated cash flow. Companies with limited financing from cash flow sensitivity of cash are higher than companies without financial constraints, companies with financial constraints strong desire to accumulate cash in excess of cash flow and debt levels themselves are not changed. In contrast, companies with financial constraints and needs of the bottom cover similar companies acted without limitation financing, mainly to reduce debt and only low amounts of excess cash flow to account for cash transfer. In this study, the sensitivity of investment to keep the cash and financing cash flows has been investigated. The population of this research firms listed in the Tehran Stock Exchange and the sample contains data for the period of 7 years from 1392 to 1386 was 101 companies. And sampling, systematic elimination method. And the method used to estimate the multivariate regression model and panel data methods. The results showed that between holding cash and investing cash flows sensitive and there is a direct relationship. The ratio between debt and cash flow sensitivity of investment and there is a direct correlation, but between long-term debt and invest the sensitivity of cash flows There is no significant relationship. That by using generalized least squares (GLS) was found between long-term debt and cash flow sensitivity of investment there is a significant relationship. In addition, the results indicated that the interaction of cash flows and kept the cash investment cash flow sensitivity and there is a direct relationship.}, keywords = {Keep the Cash,Finance,Debt,Investment Cash flow Sensitivity}, title_fa = {تعیین تاثیر نگه داشت وجوه نقد و تامین مالی بر حساسیت سرمایه گذاری جریانات نقدی}, abstract_fa = {در این تحقیق تاثیر نگه داشت وجوه نقد و تامین مالی بر حساسیت سرمایه گذاری جریان های نقدی مورد بررسی قرار گرفته است. جامعه آماری این پژوهش شرکت های پذیرفته شده در بورس اوراق بهادار تهران و نمونه آماری آن شامل داده های 101 شرکت برای دوره 7 ساله 1392-1386 بود. و روش نمونه گیری، روش حذفی سیستماتیک بود. و روش مورد استفاده جهت برآورد الگو روش داده های تابلویی و رگرسیون چند متغیره بود. نتایج پژوهش نشان داد بین نگه داشت وجوه نقد و حساسیت سرمایه گذاری جریانات نقدی رابطه مثبت و مستقیمی وجود دارد. همچنین بین نسبت بدهی ها و حساسیت سرمایه گذاری جریانات نقدی رابطه مثبت و مستقیمی وجود دارد، ولی بین بدهی های بلند مدت و حساسیت سرمایه گذاری جریانات نقدی رابطه معنی داری وجود ندارد. همچنین نتایج پژوهش نشان داد بین اثر تعاملی جریان های نقدی و نگه داشت وجه نقد با حساسیت سرمایه گذاری جریانات نقدی رابطه مثبت و مستقیمی وجود دارد.}, keywords_fa = {نگه داشت وجوه نقد,تامین مالی,نسبت بدهی,حساسیت سرمایه گذاری جریان های نقدی}, url = {https://www.iaaaar.com/article_98801.html}, eprint = {https://www.iaaaar.com/article_98801_239579a9cd2aaa562a5b107ae71bc5ef.pdf} }