عنوان مقاله [English]
The purpose of this research is to investigate the effect of accounting restatements of financial statements on cash holding policy. Companies often hold significant amounts of cash in their balance sheets due to lack of capital markets such as information asymmetry, agency problems, transaction costs, and external financing costs. On the other hand, accounting restatements can affect the level of cash holdings and market value. For this research, a sample of 155 companies in the Tehran Stock Exchange during the period of 2009-2016 was selected. Based on the multi-variable linear regression analysis, the findings showed that, in accordance with the theory of strengthened control, accounting restatements of financial statements led to a decrease in cash holdings. Also, in line with the agency theory, refinancing the presentation of financial statements will lead to a decrease in the market value of cash holdings from the perspective of investors. In other words, the accounting restatements of financial statements by investors is interpreted as a negative signal.