This paper in vestigates the relationship between FREE CASH FLOW, life cycle and dividend policy in Tehran Stock Exchange listed companies during 2002-2009.Using 304 company- year and conducting OLS Regression model, results revealed that there are no significant relationship between dividend policy and FREE CASH FLOW, which is not consistent with FREE CASH FLOW HYPOTHESIS and the relationship with dividend policy in prior researches (Fama and French, 2001; Grullon and et al., 2002 and Deangelo and et al., 2006). The findings also reveal that there are no significant relationship between companies' life cycle and their dividend policies.

In this research, we examine the effect of company’s FREE CASH FLOW on financial reporting conservatism. Jensen (1986) argues that as FREE CASH FLOW increases, interests conflict of managers and shareholders increases, increasing the severity of agency problem between managers and shareholders. conservatism is one potential mechanism to address these agency problems. Thus, our prediction is that as FREE CASH FLOW increases, the severity of agency problem increases, increasing the demand for conservatism. In this research,we examined 109 companies (763 firm-year) accepted in Tehran Stock Exchange (TSE) and found evidences consistent with our prediction. We thus provide evidence of a demand for conservatism from the firm’s shareholders.

The purpose of this study is to investigate the relationship between FREE CASH FLOWs and stock return considering managers' myopia. Two hypotheses have been designed and tested, selecting 96 firms from accepted companies in the Tehran Stock Exchange for sixyear period from 2005 to 2010 and using stock return for three years ahead (to 2012). The results show that FREE CASH FLOWs are negatively related to short-term and long-term stock returns. The sensitivity of stock return to FREE CASH FLOWs in myopic firms is more than the other firms and, with an increase in FREE CASH FLOWs, more decrease in return is occurred in such firms. Therefore managers’ myopia and FREE CASH FLOWs, increase opportunistic behavior of managers in order to increase their personal interests and have negative influence on firm performance.

AbstractThe aim of this paper is to find the answers to hypotheses such as, can CEO's overconfidence lead to increases in their action towards management of CASH FLOW from Operations (CFO) , do CASH FLOW from finance (CFF) and CASH FLOW from investment (CFI) have the effect on the relation between CEO's overconfidence and the management of CASH FLOW from Operations?The samples used in this study are all companies listed on the Tehran  stock exchange, that based on the systematic elimination sampling method, 146 companies or in other word 876 year-firm was selected as statistical sample. This study is correlation analysis of post-event panel data. Multiple linear regression and logistic regression were used to test the HYPOTHESIS. Stata software version 15 and Eviews version 12 were also used for statistical analysis.The result of testing the research first HYPOTHESIS shows that the CEO's overconfidence has positive effect on the management of CASH FLOW from Operations. The second finding also indicates that, CASH FLOW from finance (CFF) and CASH FLOW from investment (CFI) have the negative effect on the relation between CEO's overconfidence and the management of CASH FLOW from Operations.

The aim of this study is to investigate the effect of leverage and FREE CASH FLOW on the CASH holding adjustments. This study is significant as its finding can be of help in the efficient management of CASH holding for achievement of optimal CASH and in establishment of a good policy for CASH management. Therefore, in this study, information about 60 companies in Tehran Stock Exchange during 2003 to 2015 is gathered and analyzed with the Regression Method. The findings show that there is a direct relationship between the leverage and FREE CASH FLOW with the CASH holding adjustments. This relationship is as same as in the companies with the deficit but this relationship does not exist in the companies with the excess CASH holding. These findings can be an emphasis on the need of CASH management to achieve optimal CASH decisions.

This study examined the effect of accumulated CASH FLOW and FREE CASH FLOW flexibility in Tehran Stock Exchange listed companies in 1393 took place. The survey companies listed in Tehran Stock Exchange from 1387 to 1392 was, Consideration of the use of certain criteria, 50 companies qualified and recognized as the sample size was considered. Methods of data collection based on the Tehran Stock Exchange databases, website and software company stock as new software was Rahavard that to collect the required data were used to test the hypotheses. Continue to test the HYPOTHESIS Chow and Hausman test, T-test, regression model was used. Statistical methods used in this study using panel data is done using SPSS software and Eviews. The findings Despite the accumulated CASH FLOW and FREE CASH FLOW of financial flexibility to approved, also It was found accumulated CASH FLOW and FREE CASH FLOW in the company' s financial flexibility, financial flexibility than companies that do not have significant difference is positive.