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All Journal JURNAL MANAJEMEN DAN AKUNTANSI Jurnal MD Indikator: Jurnal Ilmiah Manajemen & Bisnis Jurnal Analisis Bisnis Ekonomi Jurnal EMA (Ekonomi Manajemen Akuntansi) Otonomi Journal of the Community Development in Asia Strata Social and Humanities Studies Strata Business Review Journal of Business Innovation and Research Strata International Journal of Social Issues Multidiscience: Journal of Multidisciplinary Science
KHOIRUL HIKMAH -
FE UPN Veteran Yogyakarta
Religion Arts Humanities Computer Science & IT Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Education Engineering Languange, Linguistic, Communication & Media Law, Crime, Criminology & Criminal Justice Library & Information Science Medicine & Pharmacology Social Sciences

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Journal : Journal of the Community Development in Asia

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Determinants of Cash Holding: A Study on Manufacturing Companies Listed on the Indonesian Stock Exchange from 2018 to 2021 Hikmah, Khoirul; Prastiwi, Puri; Kusumawati, Diana Anggraini
Journal of The Community Development in Asia Vol 8, No 1 (2025): January 2025
Publisher : AIBPM Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32535/jcda.v8i1.3660

Abstract

This research analyzes the influence of COVID-19, leverage, growth opportunity, net working capital (NWC), dividend, and profitability toward cash holding. The population used is all manufacturing companies recorded on the Indonesian Stock Exchange (IDX) for 2018- 2021. Purposive sampling combined with non-probability sampling was used to determine the research sample, which consisted of 69 manufacturing companies. The research hypothesis was tested using the panel data regression analysis method, namely the Random Impact Model. The research results show that COVID-19, growth opportunity, leverage, NWC, dividend, and profitability impact cash holding. At the same time, it was partially found that COVID-19 had an impact on cash holding, leverage had a significant adverse effect on cash holding, growth opportunity had a negative impact on cash holding, NWC and dividends had an insignificant negative impact on cash holding, and profitability has no significant favorable influence on cash holding. Leverage has a substantial detrimental effect on cash holdings, which suggests that businesses with high levels of leverage are at risk of having liquidity issues. Policymakers may consider providing guidelines or support mechanisms for manufacturing firms to strengthen their financial resilience during uncertain periods
Co-Authors Abrar, Althaf Agung Satmoko Agus Sukarno Alsepta, Alvi Ambarwati, Sri Dwi Ari Andi, Baskoro Qomarul Aprilian, Dimas Arief Subyantoro Daniswara, Dipta Amelia Dewi, Enris Salia Eric, Eric Erlangga, M. Sandi Surya Harwanti, Indah Hendro Widjanarko Heru, Kristanto Hidayat, Cakra Kelsum, Ulmi Kusumawati, Diana Anggraini Lestari, Sandra Widya Lukmawati, Linda Meidawati, Devi Prastiwi, Puri Pujiharjanto, Colombanus Ambar PURBUDI WAHYUNI, PURBUDI Purnama, Sigit Rakadewa, Vinsensius Agus RIRIN ASTUTI - Satoto, Shinta Heru Sriyanto, Edi Sudaryatie, Sudaryatie Supiyarto, Edy Widyastuti, Anna