چکیده (انگلیسی):

Economic institutions mostly hold their assets in the cash accounts. The present study mainly aims to
assess the asymmetrical relationship between cash flow sensitivity of cash (changes at the level of cash holdings
in proportion to changes in cash flows) and operating cash flow sign. Furthermore, the effect of fiscal restraints is
appraised in this research. Multiple linear regression models were applied to analyze 148 companies over the
2007- 2012 period. The obtained findings indicated an asymmetrical relationship between cash flow sensitivity of
cash and positive or negative cash flows. Simply put, there is a significant difference between cash flow sensitivity
of cash and positive or negative cash flow. The results also showed that fiscal restraints are not significantly
influential in cash flow sensitivity of cash.