Faktor Yang Mempengaruhi Cash Holding Pada Perusahaan Manufaktur BEI Tahun 2017-2019
Main Article Content
Abstract
The purpose of this study is to test empirically the effect of company size, profitability, leverage, and liquidity on cash holding in manufacturing companies listed on the Indonesia Stock Exchange for the period 2017 - 2019. This study uses data from 77 manufacturing companies that have been selected using the purposive sampling method. with a total of 231 data for three years. The data used are secondary data in the form of financial reports. This research data processing using the program Eviews version 11 (Econometric Views) for Windows. The results showed that the company size, probability, and leverage were not significant effect on cash holding, liquidity has a significant negative effect on cash holding. The implication of this research is the manager's decision to be the top in the company's decision making how to regulate the cash inflow and outflow policy. Manager's experience is important because with a lot of experience, managers can consider every decision that is right for their company.
Article Details
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
Ali S., Ullah M., & Ullah N. (2016). Determinants of Corporate Cash Holdings “A Case of Textile Sector in Pakistan”. International Journal of Economics & Management Science, 5(3), 1-10.
Elnathan L., Zefanya & Susanto, L. (2020). Pengaruh leverage, firm size, likuiditas, dan profitabilitas terhadap cash holding. Jurnal Paradigma Akuntansi, 2(1), 40-49.
Ferri, M. G., & Jones, W. H. (1979). Determinans of Financial Structure: A New Methodological Approach. Journal of Finance, 631-644.
Gill, A. & Shah, C. (2012). Determinant of Corporate Cash Holdings: Evidence from Canada. International Journal of Economics and Finance, 4(1), 70-79.
Jinkar, R. T. (2013). Analisa Faktor–faktor Penentu Kebijakan Cash Holding Perusahaan Manufaktur di Indonesia. Jurnal Departemen Akuntansi Fakultas Ekonomi, 1-19.
Kasmir. (2010). Pengantar Manajemen Keuangan. Edisi Pertama. Jakarta: Kencana.
Miller, M. H., & Orr, D. (1966). A Model of demand for money by firm. Quarterly Journal of Economics, 8(3), 413-435.
Marfuah & Zulhilmi, A. (2015). Pengaruh Growth Opportunity, Net Working Capital, Cash Conversion Cycle, dan Leverage Terhadap Cash Holding Perusahaan. Jurnal Ekonomi Dan Keuangan Universitas Islam Indonesia, 5(1), 32-43.
Monica, L., Susanti, M., & Dewi, S. (2019). Faktor yang Mempengaruhi Cash Holding Perusahaan Manufaktur di BEI. Jurnal Multiparadigma Akuntansi, Vol. 1, No. 3, hlm. 827-834
Myers, S. C. & Majluf, N. S. (1984). Corporate Financing and Investment Decisions When Firms Have Information the Investors Do Not Have. NBER’s Research Program in Financial Markets and Monetary Economics.
Suherman. (2017). Faktor-faktor yang mempengaruhi cash holdings perusahaan di Bursa Efek Indonesia. Jurnal Manajemen, 21(3), 336-349.
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.