Document Type: Original Article


1 Student, Department of Accounting, Sirjan science and research Branch, Islamic Azad University, Sirjan, Iran

2 Department of Accounting, Tabriz Branch, Islamic Azad University, Tabriz, Iran

3 Department of Industrial Management, Valiasr University, Rafsanjan, Iran


In the present research we have studied about the effect of asset's liquidation regarding the limitations of financing on cash flow sensitivity of cash. To carry out the research we have chosen 60 firms accepted in Tehran Stock Exchange during the time period between 2006 and 2011 using a systematic deletion method. To test the research hypotheses we have used a multiple variable regression method. Then the results were analyzed using atast software. The research results showed that the liquidation of physical assets does not affect cash flow sensitivity.


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