Resumen
The aim of this study is to analyze the impact factors and their effects on the corporate cash holdings in order to assist companies in achieving better financial management, corroborating the perpetuity of them. The sample consists of 917 observations of 131 listed companies in Brazil, from 2007 to 2013. The dependent variable used in this study is the natural logarithm of cash and cash equivalents divided by the total of net assets and the major independent variables are show in literature plus a dummy variable for passive financing through BNDES and a control variable for the financial crisis. The methodology used is regression with static and balanced panel data, with better results for fixed effects. Evidence is found that the variable distribution of dividends, higher level of liquid assets, existence of corporate governance, in addition to financial crisis, impact cash.