Cash asset is normally considered a part of working capital, mainly for short-term operation purpose. However, being an asset that can be easily converted into any other form of assets, cash asset has been highly emphasized and managed by corporate insiders. Corporate cash holdings therefore play an important role in supporting short-term and long-term investments, and meanwhile provide managers with a window to pursue personal benefits, resulting agency problems. In this workshop, the speaker will review the theories of cash holdings and its valuation implications, as well as the trends of cash holdings in practice and in empirical studies of finance and accounting.