The purpose of this research is to examine the relationship between corporate diversification on the value of cash holding. Furthermore, the research also examined the corporate diversificationâvalue of cash holding relationship with good and poor corporate governance (CG); industrial competitiveness and industrial nonâcompetitiveness; family and nonâfamily oriented firms; Sharia and nonâSharia compliant firms. The data is used for the years 2017 to 2022 of nonâfinancial firms registered on the Pakistan Stock Exchange. The result predicts that corporate diversification exerts a negative effect on the value of cash holding but this negative relationship becomes positive in goodâgoverned firms, completive industries and Sharia label firms. On the other hand, corporate diversification exerts a negative effect on the value of cash holding in familyâoriented firms due to agency problems.