The corporate social responsibility, market risk and cash holdings

In this study, the impact of corporate social responsibility on the company's cash holdings has been investigated. In order to clarify this issue, the direct and indirect effects of social responsibility on the company's cash holdings have been analyzed. In order to know indirect effects of corporate risk assessment and governance issues, the impact of corporate social responsibility on cash withdrawal has also been tested. Using the data of social responsibility indicators for companies accepted in the Tehran stock exchange during 2011-2015, results show that in companies with high social responsibility indicators, corporate social responsibility has a positive and significant relationship with the retention of funds due to the impact on market risk . Also, in these companies, corporate social responsibility has a positive and significant relationship with cash holding by considering the effect of institutional ownership.