Oil Fluctuations and evidence of the impact of economic and intra company factors on the Cash Holding in Tehran Stock Exchange (Quintile Regression Approach)

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DEHGHANI ALI; Kheil Kordi Fatema; Abdolbaghi Ataabadi Abdolmajid

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Journal: Financial Economics Year:2020 | Volume:14 | Issue:52 Page(s): 197-222

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Title

Oil Fluctuations and evidence of the impact of economic and intra company factors on the Cash Holding in Tehran Stock Exchange (Quintile Regression Approach)

Author(s)

DEHGHANI ALI | Kheil Kordi Fatema | Abdolbaghi Ataabadi Abdolmajid | Issue Writer Certificate

Keywords

cash holdingsQ1

high oil price fluctuationQ1

low oil price fluctuationQ1

quantile regressionQ1

Abstract

The main purpose of this study is to investigate the effect of oil fluctuations, economic and intra corporate factors on the cash holdings by 197 companies admitted to Tehran Stock Exchange during the years 2010-2017 by using the Quantile econometric approach in the panel data. Model estimation results show that previous period of cash holding, financial leverage, dividend payout, growth opportunities, capital expenditure, working capital net, cash flow fluctuation, oil price fluctuations, economic growth rate and interest rate effect of holding Cash. In the following, the model is fitted under conditions of low and high oil price volatility to investigate the factors affecting cash holding in the oil economy. Based on the results, under low oil price volatility, the effect of prior period cash holding variables, dividend payouts, growth opportunities, capital expenditures, net working capital, oil price fluctuations and interest rates And in conditions of high oil price volatility, the effect of previous period cash holding variables, financial leverage, profitability, growth opportunities, net working capital, cash flow fluctuation and economic growth rate were significant.

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APA: Copy

DEHGHANI, ALI, Kheil Kordi, Fatema, & Abdolbaghi Ataabadi, Abdolmajid. (2020). Oil Fluctuations and evidence of the impact of economic and intra company factors on the Cash Holding in Tehran Stock Exchange (Quintile Regression Approach). JOURNAL OF FINANCIAL ECONOMICS (FINANCIAL ECONOMICS AND DEVELOPMENT), 14(52 ), 197-222. SID. https://sid.ir/paper/399049/en

Vancouver: Copy

DEHGHANI ALI, Kheil Kordi Fatema, Abdolbaghi Ataabadi Abdolmajid. Oil Fluctuations and evidence of the impact of economic and intra company factors on the Cash Holding in Tehran Stock Exchange (Quintile Regression Approach). JOURNAL OF FINANCIAL ECONOMICS (FINANCIAL ECONOMICS AND DEVELOPMENT)[Internet]. 2020;14(52 ):197-222. Available from: https://sid.ir/paper/399049/en

IEEE: Copy

ALI DEHGHANI, Fatema Kheil Kordi, and Abdolmajid Abdolbaghi Ataabadi, “Oil Fluctuations and evidence of the impact of economic and intra company factors on the Cash Holding in Tehran Stock Exchange (Quintile Regression Approach),” JOURNAL OF FINANCIAL ECONOMICS (FINANCIAL ECONOMICS AND DEVELOPMENT), vol. 14, no. 52 , pp. 197–222, 2020, [Online]. Available: https://sid.ir/paper/399049/en

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