Determinants of Cash Holdings among Quoted Firms in Nigeria
The study examined the determinants of cash holdings among quoted firm in Nigeria. This study used quoted manufacturing firms in Nigeria that have consistently published their audited annual financial report for the period of 2015 to 2019 and adopted a panel multiple regression analysis using panel data to test the formulated hypotheses and conducted descriptive statistics and correlation analyses. The result shows that firm profitability has an insignificant positive relationship with cash holdings, revenue growth has a significant negative relationship with cash holdings, firm age has an insignificant positive relationship wit cash holdings while firm size has an insignificant positive relationship with cash holdings The study recommends that management should ensure that there is a trade-off between leverage and profitability for proper maintenance of optimal cash balances among quoted firms in Nigeria. Keywords: Cash Holding, Firm Age, Firm Profitability, Firm Size, Revenue Growth.