Cabaye made the switch to Selhurst Park from Paris St Germain, and his signing was one of the most eye-catching deals made by any Premier League side during the recent transfer window.
It was also enough to assure Dann, who was courted by a number of clubs over the summer, that Selhurst Park was the place to be, according to Parish.
“There was no question about Yohan’s pedigree, but it was also what it said about the club. The statement it made," the Palace chairman said.
“Scott Dann was courted by other clubs this summer but, when we signed Yohan, he said to me: ‘The clubs I’m being linked with aren’t signing players of that calibre. They’re not showing that ambition. Why would I go anywhere else?"
Cabaye's addition to Palace has already paid dividends, with the Frenchman bringing a poise and class to their midfield.
He scored his first goal against Norwich City, and has otherwise looked very assured in the centre of the pitch - regularly setting the tone for Alan Pardew's side, who have started the new campaign well.
Another contributing factor to this strong opening has been the form of Dann, who has been a rock at the heart of their defence.
The centre-back has become a key player for the London outfit over recent seasons, and if Cabaye's arrival did result in him opting to stay, then that transfer was even more important than it first seemed.