Faktor-Faktor Yang Mempengaruhi Cash Holding Perusahaan Manufaktur Pada Tahun 2017-2019
Main Article Content
Abstract
This research aims to determined the effect of the leverage, profitability, firm size, net working capital, and capital expenditure on cash holding of manufacturing companies listed on the Indonesia Stock Exchange during 2017-2019. Sample was selected using purposive sampling method and the valid data was 35 companies. Data processing techniques using multiple regression analysis that helped by EViews 11 SV software to test the hypothesis. The results of this study indicate that leverage, profitability, firm size, and capital expenditure had no effect on cash holding while net working capital had negative and significant effect on cash holding.
Article Details
![Creative Commons License](http://i.creativecommons.org/l/by-nc-sa/4.0/88x31.png)
This work is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License.
This work is licensed under a Jurnal Komunikasi Creative Commons Attribution-ShareAlike 4.0 International License.
References
Aftab, U., Javid, A. Y., & Akhter, W. (2018). The Determinants of Cash Holdings around Different Regions of the World. Business & Economic Review, 10(2), 151-182.
Al-Najjar, B. & Belghitar, Y. (2011) “Corporate Cash Holdings and Dividend Payments: Evidence from Simultaneous Analysis”, Managerial and Decision Economics, 32, 231-41.
Amalia, C. I., Arfan, M., & Saputra, M. (2018). The Effect of Financial Leverage and Capital Expenditure to Cash Holding of Manufacturing Company Listed in Indonesia Stock Exchange. International Journal of Academic Research in Business and Social Sciences, 8(5), 311-318.
Arfan, M., Basri, H., Handayani, R., Shabri, M. S. A., Fahlevi, H., & Dianah, A. (2017). Determinants of cash holding of listed manufacturing companies in the Indonesian stock exchange. DLSU Business and Economics Review, 26(2), 1-12.
Chireka, T. & Fakoya, M. B. (2017). The Determinants of Corporate Cash Holdings Levels: Evidence from Selected South African Retail Firms. Investment in Management and Financial Innovations, 14(2), 79-93.
Elnathan, L, Z. & Susanto, L. (2020). Pengaruh leverage, firm size, likuiditas dan profitabilitas terhadap cash holding. Jurnal Paradigma Akuntansi, 2(1), 40-49.
Gittman, L, J. & Zutter, C, J. (2015). Principles of Managerial Finance. Fourteenth Edition. England: Pearson Education Ltd.
Jensen, M. & Meckling, W. (1976). Theory Of The Firm: Manajerial Behavior, Agency Cost and Ownership Structure. Journal of Financial Economics, 3(4), 305-360.
Liputri, S. & Susanto, L. (2020). Faktor-faktor yang mempengaruhi cash holding perusahaan manufaktur yang terdaftar di BEI. Jurnal Paradigma Akuntansi, 2(4), 1444-1451.
Miller, M. & Orr, D. (1966). A model of the demand for money by firms. The Quarterly Journal of Economics, 80(3), 413-435.
Myers, S. C., & Majluf, N. (1984). Corporate Financing Decisions When Firms Have Information that Investors Do Not Have. Journal of Financial Economics, 13(1), 187-221.
Nofryanti. (2014). Pengaruh Net Working Capital, Growth Opportunity dan Leverage Terhadap Cash Holding. Jurnal Ilmiah Akuntansi, 2(4), 476-496.
Romadhoni, R., Kufepaksi, M., & Hendrawaty, E. (n.d.). Faktor–faktor yang mempengaruhi cash holding perusahaan yang listing di Bursa Efek Indonesia tahun 2013-2017. The Manager Review, 1(2), 124-139.
Sartono, A. (2012). Manajemen Keuangan Teori dan Aplikasi. Edisi 4. Yogyakarta: BPFE.
Selcuk, E. & Yilmaz, A. (2017). Determinants of corporate cash holdings: Firm level evidence from emerging markets. In Global Business Strategies in Crisis, 417-428.
Theresia, S. & Sufiyati. (2020). Faktor yang mempengaruhi cash holding perusahaan manufaktur di Indonesia tahun 2016-2018. Jurnal Paradigma Akuntansi, 2(4), 1469-1478.
Thu, P. A. & Khuong, N. V. (2018). Factors Effect on Corporate Cash Holdings of the Energy Enterprises Listed on Vietnam’s Stock Market. International Journal of Energy Economics and Policy, 8 (5), 29-34.
Titman, S., Keown, A. J., & Martin, J. D. (2011). Financial Management: Principles and Applications. Eleventh Edition. Boston: Prentice Hall.