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All Journal KEUNIS JURNAL LENTERA AKUNTANSI
Veronica Veren Milenia
Universitas Widya Dharma Pontianak
Computer Science & IT Economics, Econometrics & Finance

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KOMITE AUDIT, RETURN ON ASSETS, AND UKURAN PERUSAHAAN SEBAGAI PENENTU CASH HOLDINGS PERUSAHAAN Veronica Veren Milenia; Kusuma Indawati Halim
JURNAL LENTERA AKUNTANSI Vol. 11 No. 1 (2026): JURNAL LENTERA AKUNTANSI, MEI 2026
Publisher : POLITEKNIK LP3I JAKARTA

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.34127/jrakt.v11i1.2380

Abstract

This study investigates the determinants of corporate cash holdings among transportation and logistics companies listed on the Indonesia Stock Exchange (IDX) during the 2019–2023 period. This study uses a quantitative approach using secondary data obtained from the annual reports and financial statements of transportation and logistics companies listed on the Indonesia Stock Exchange (IDX) during 2019–2023. A purposive sampling technique was employed to select 20 companies, resulting in 100 firm-year observations. The data were analyzed using multiple linear regression after passing normality, multicollinearity, heteroscedasticity, and autocorrelation tests. The results show that ROA has a positive and significant effect on cash holdings, indicating that more profitable companies tend to accumulate larger cash reserves to ensure financial flexibility and self-financing capacity. Firm size also exhibits a positive and significant relationship, indicating that larger companies, due to their operational complexity and higher capital requirements, maintain higher levels of liquidity. Conversely, audit committees exhibit an insignificant effect, suggesting that governance structure plays a supporting, rather than direct, role in determining corporate cash holding policies in this sector.
Do Related Party Transactions Affect Firm Value? Veronica Veren Milenia; Kusuma Indawati Halim
KEUNIS Vol. 14 No. 1 (2026): JANUARY 2026
Publisher : Finance and Banking Program, Accounting Department, Politeknik Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32497/keunis.v14i1.6879

Abstract

Using panel data of 24 firms in the Indonesian property and real estate sector from 2019 to 2023, this study investigates the impact of related party transactions on firm value by emphasizing the influence of firm size and family ownership. Tobin's Q was used in the analyses to measure firm value, with leverage, profitability, and liquidity as control variables. Empirical evidence demonstrates that related party receivables have a significant negative effect on firm value, thus confirming the agency theory. Related party payables, on the other hand, have a positive correlation with firm value, showing the potential as an internal financing mechanism and giving a good signal to the market. Furthermore, firm size has been shown to mitigate the adverse impacts of accounts receivable while magnifying the beneficial effects of accounts payable. Although family-owned businesses extract greater value from accounts payable than non-family-owned enterprises, there is no distinction in accounts receivable between the two. Nonetheless, this study shows that related party transactions are not necessarily harmful for companies. These findings are important for business management, regulators, and investors seeking to consider related party transactions that can increase firm value.
Co-Authors Kusuma Indawati Halim