Time Variation in the Marginal Value and Marginal Rate of Firm's Cash Holdings in the Tehran Stock Exchange (TSE)

The main purpose of the present research is to investigate time variation in the marginal value and marginal rate of Firms’ Cash Holdings in the Tehran Stock Exchange. The study period is between the years 1388 to 1392 and the statistical sample of the study is 101 the companies listed in Tehran Stock Exchange (TSE). We use Panel-Data Regression and EGLS method to estimate the model parameters. The result of this study reveal that marginal value of cash is less of face value and marginal rate of cash holding is decreasing rate. In addition to result shown that marginal value of cash vary in over time.