摘要：Given the increasing importance of liquidity, factors affecting cash holdings have attracted many researchers. In this study, using data from the financial statements of companies listed in Tehran Stock Exchange (TSE), 76 companies are selected as sample. The impact of accruals quality on cash holdings is evaluated using 11 control variables for the period between the years 2003 to 2009 through multivariate linear regression. The results show that the effect of discretionary accrual quality, leverage, capacity to generate cash flows, dividend, debt maturity structure, growth options and financial distress on cash holdings is not statistically significant. On the other hand, non-discretionary accruals quality, size, bank debt, opportunity cost of keeping cash, cash flows from previous year operation, respectively, are the most significant factors affecting cash holdings.
