The Role of Cash Management in Explaining the Relationship between Stock Liquidity and Liquidity Risk”

Articles in Press

Document Type : Research

Authors
Ahmad Pifeh 1
Mojtaba Akhondi 2
Tayyebe akbarian 3
1 Assistant Professor of Accounting Department, University of Sistan and Baluchestan, Zahedan, Iran
2 Department of Accounting, Zah.C, Islamic Azad University, Zahedan, Iran.
3 the National University of Skills, Zahedan women’s branch
10.22034/smajournal.2026.594032.1303
Abstract
The objective of this study is to examine the impact of cash management on the relationship between stock liquidity and liquidity risk. This research is applied in nature. The statistical population consists of all companies listed on the Tehran Stock Exchange (TSE) from 2019 to 2024. To select the research sample, a systematic elimination method (purposive sampling) was employed, resulting in a final sample of 149 companies after applying the relevant criteria. Theoretical foundations were gathered using library research methods, while quantitative data for the variables were extracted from the companies’ financial statements via financial databases such as Rahavard Novin. Furthermore, regression analysis was utilized to test the research hypotheses.
The results of testing the first hypothesis indicate a significant negative relationship between stock liquidity and liquidity risk, implying that an increase in stock liquidity leads to a reduction in liquidity risk. Additionally, the results of the second hypothesis indicate that cash management does not have a significant moderating effect on this relationship.
Keywords
Cash Management
Stock Liquidity
Liquidity Risk
Tehran Stock Exchange (TSE)
Subjects
Strategic Management Accounting

Articles in Press, Corrected Proof
Available Online from 05 November 2026