IMPACT OF BOARD KNOWLEDGE AND BOARD

COMPLEMENTARITY ON CASH HOLDING WITH MODERATING

ROLE OF FAMILY OWNERSHIP
Atif Nawaz, 2Dr. Tanveer Ahmad, 3Majeed Ullah Khan
1*

1, 2,3
Kohat University of science and technology kohat, pakistan
*Email: nawazatif921@gmail.com

Abstract: The purpose of the study is to investigate the impact of board knowledge and board
complementarity on cash holding with the moderating role of family ownership. The study used
the sample from 150 non-financial listed firms on Pakistan Stock Exchange. The study covered
the period from 2012 to 2022, and the study used the stratified random sampling technique for
sampling. The data were analyzed through descriptive statistics, regression analysis, and the
multiple linear regression method. The study finding reveals that board knowledge which refers
board educations, board experience and board financial expertise and board complementarity has
significantly impact on corporate cash holdings. Moreover, since this paper was carried out in an
emerging financial market, particularly in Pakistan, to figure out the effect of board knowledge,
and board complementarity on cash holding, it can provide helpful information for investors and
policymakers in this regard.
Keywords: Board knowledge, board complementarity, Family ownership, Corporate Cash Holding.