회계정보공시의 질과 기업의 현금보유

This study analyzes the relationship between the level of accrual quality and corporate cash holding depend on the quality of accounting information disclose with 2100 sample firm from 2002 to 2007. The results show that firms with good accruals quality hold lower cash levels than firms with poor accruals quality. This results consist with prior researches. This finding suggests that the quality of accounting information may reduce the negative effects of information asymmetries and adverse selection cost, allowing firms to reduce their level of corporate cash holdings. High quality of accounting information disclose may improve investment efficiency in reducing cash levels. Also, it suggests a positive effect for financial institutes in reducing the cost of capital for the firm and incorporates the firm and creditors in reducing the information asymmetry. These findings contribute to the role of accounting quality in reducing information asymmetries and providing a empirical evidence. Also, its provide valuable insights for investors, creditors, and managers. This study suggests that the manager should have a concern for the quality of accounting information disclose because high-quality information in terms of accruals increases effective control of cash holdings. Consequently, holding lower levels of cash, reducing unproductive cash on firms' balance sheets. therefore, improving investment efficiency.