The effect of the CEO's educational background and tendencies on the market value of cash holding in companies listed on the Tehran Stock Exchange

The importance of cash in the capital market due to rising inflation and declining monetary value has led in recent years to the attention of researchers to study the factors affecting the holding and holding value of cash. Therefore, in this study, the effect of the educational background and attitudes of the CEO on the market value of cash holding in companies listed on the Tehran Stock Exchange has been investigated. The independent variables in this study were the degree and field of study of the CEOs of stock exchange companies. The value of cash holding was measured using the Falkander and Wong (2006) model. The statistical population of this study was all companies listed on the Tehran Stock Exchange and the period of data collection from 2014 to 2020. Statistical results using the panel data technique showed that the educational background of the CEO, including the field and degree, had a significant relationship with the value of cash holdings. Therefore, investors and other capital market participants are advised to consider the training background of the CEO along with other components affecting their economic decisions.