University of Isfahan Journal of Asset Management and Financing 2383-1189 5 3 2017 10 23 Investigating the Relationship between Global Development and the Level of Cash Holdings in Companies Listed in Tehran Stock Exchange Using Panel Threshold Regression Investigating the Relationship between Global Development and the Level of Cash Holdings in Companies Listed in Tehran Stock Exchange Using Panel Threshold Regression 163 176 21184 10.22108/amf.2017.21184 FA Saeed Farzadi Instructor of Department of Accounting Faculty, Management and Accounting Institute of Higher Education Imam Javad (AS) Yazd Saber Molaei PhD Student of Economics Faculty of Administrative Sciences and Economics, University of Isfahan Journal Article 2015 11 30 During recent decades, corporate globalization and the new competitive environment have led to the formation of specific attention to exports as a crucial factor to the survival and growth of many companies. In this study, the sample was divided into two groups, local and global developed companies, and the relationship between level of cash holding and the level of global development was studied. In this regard, 88 companies listed in Tehran Stock Exchange during the period 2009 to 2014 were studied. The results of the tests indicate that the trend toward globalization plays a determining role in corporate cash holdings. Also based on the results, it was evident that an inverted U relationship between exports increased in line with global development and corporate cash holdings. During recent decades, corporate globalization and the new competitive environment have led to the formation of specific attention to exports as a crucial factor to the survival and growth of many companies. In this study, the sample was divided into two groups, local and global developed companies, and the relationship between level of cash holding and the level of global development was studied. In this regard, 88 companies listed in Tehran Stock Exchange during the period 2009 to 2014 were studied. The results of the tests indicate that the trend toward globalization plays a determining role in corporate cash holdings. Also based on the results, it was evident that an inverted U relationship between exports increased in line with global development and corporate cash holdings. https://amf.ui.ac.ir/article_21184_d8ca790c315a578bb33e562cc0eebe1f.pdf