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This study investigates the financial and institutional determinants of corporate cash holdings in Turkey over the period of 2010 and 2019 using a broad data of non-financial public companies. The results show that growth opportunities, leverage, firm size, net working capital, cash flow, and capital expenditures are important financial factors in determining cash holdings. While positive effect of growth opportunities and negative effect of capital expenditure are in line with the expectations of the trade-off and pecking order theories, the positive effects of firm size and cash flow coincide pecking order and free cash flow theories. The negative effect of leverage corresponds to all three theories. However the positive sign of corporate governance dummy is not statistically significant. Thus, the hypothesis, which suggests that corporate governance affects the corporate cash holdings, could not be supported. The results also show that companies have target cash holdings level and adjust toward the target. [ABSTRACT FROM AUTHOR]