The purpose of this study is to examine the impact of company reputation risk on cash held with the moderating role of financial constraints and corporate governance (evidence from Tehran Stock Exchange). The research method is descriptive correlation with applied approach. The statistical population of this research is the companies admitted to the Tehran Stock Exchange in a period of 7 years during the financial years of 2016-2022. 133 companies were selected as the statistical sample of the research. In this research, systematic exclusion sampling method was used. Excel and Eviews8 software were used for data analysis. In this research, Smirnov's Klomograph test was used to determine the normality or non-normality of the data; which were estimated by the random effects method according to the normality of the data and according to the F-test of Limer and Hausman model with panel data; Also, the model has homogeneity of variance and serial autocorrelation problem. The results show that reputation risk has a negative and significant effect on cash held. Financial restriction has a negative and significant moderating effect on the relationship between reputation risk and cash held. The independence and size of the board of directors have a positive and significant moderating effect on the relationship between reputation risk and cash held. The CEO's ambivalence has a negative and significant moderating effect on the relationship between reputation risk and cash held.