THE INVESTIGATION OF THE RELATIONSHIP BETWEEN THE VALUE OF CASH HOLDING AND EVA PERFORMANCE EVALUATION OF COMPANIES LISTED IN TEHRAN STOCK EXCHANGE

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RAZEGHI GHAZALEH; AMIR HOSSEINI ZAHRA

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Journal: JOURNAL OF FINANCIAL MANAGEMENT STRATEGY Year:2016 | Volume:4 | Issue:12 Page(s): 123-139

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Title

THE INVESTIGATION OF THE RELATIONSHIP BETWEEN THE VALUE OF CASH HOLDING AND EVA PERFORMANCE EVALUATION OF COMPANIES LISTED IN TEHRAN STOCK EXCHANGE

Author(s)

RAZEGHI GHAZALEH | AMIR HOSSEINI ZAHRA | Issue Writer Certificate

Keywords

EVAQ2

PERFORMANCE EVALUATIONQ2

THE VALUE OF CASH HOLDINGSQ2

OVER INVESTMENTQ2

UNDER INVESTMENTQ1

Abstract

This paper investigates the effect of the economic value added (EVA) performance EVAluation on the value of the cash holdings of Tehran Stock Exchange firms. The aim of this study is to investigate the influence of the underinvestment modification and overinvestment restraint on cash holding. To do so, Pinkowitz and Wiliamson model was used to investigate 127 companies between 2004 and 2013. This study is applied in purpose and descriptive correlational in method. Eviews software was used to analyze the data. The results of the study show that economic value added performance EVAluation decreases the underinvestment and the overinvestment of Tehran Stock Exchange firms and on the other hand, economic value added performance EVAluation increases the value of cash holding. This study contributes to the emerging literature related to cash holdings and the economic consequences of the economic value added performance EVAluation policy. It expands the literature related to investor protection in countries experiencing economic transition.

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APA: Copy

RAZEGHI, GHAZALEH, & AMIR HOSSEINI, ZAHRA. (2016). THE INVESTIGATION OF THE RELATIONSHIP BETWEEN THE VALUE OF CASH HOLDING AND EVA PERFORMANCE EVALUATION OF COMPANIES LISTED IN TEHRAN STOCK EXCHANGE. JOURNAL OF FINANCIAL MANAGEMENT STRATEGY, 4(12), 123-139. SID. https://sid.ir/paper/261647/en

Vancouver: Copy

RAZEGHI GHAZALEH, AMIR HOSSEINI ZAHRA. THE INVESTIGATION OF THE RELATIONSHIP BETWEEN THE VALUE OF CASH HOLDING AND EVA PERFORMANCE EVALUATION OF COMPANIES LISTED IN TEHRAN STOCK EXCHANGE. JOURNAL OF FINANCIAL MANAGEMENT STRATEGY[Internet]. 2016;4(12):123-139. Available from: https://sid.ir/paper/261647/en

IEEE: Copy

GHAZALEH RAZEGHI, and ZAHRA AMIR HOSSEINI, “THE INVESTIGATION OF THE RELATIONSHIP BETWEEN THE VALUE OF CASH HOLDING AND EVA PERFORMANCE EVALUATION OF COMPANIES LISTED IN TEHRAN STOCK EXCHANGE,” JOURNAL OF FINANCIAL MANAGEMENT STRATEGY, vol. 4, no. 12, pp. 123–139, 2016, [Online]. Available: https://sid.ir/paper/261647/en

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