FAKTOR-FAKTOR YANG MEMPENGARUHI CASH HOLDINGS PADA PERUSAHAAN PELAYARAN DI INDONESIA

The purpose of this study was to examine determinants the factors that influence cash holdings on shipping companies listed on the Indonesia Stock Exchange from 2015 to 2017. The study sample used quarterly financial performance for 12 shipping companies. This study uses a fixed effect model. The results revealed that net working capital had a significant positive effect on cash holding in shipping companies in Indonesia, while cash flow, cash flow variability, liquidity, leverage and firm size did not significantly influence to cash holdings.

Download Full-text

FAKTOR-FAKTOR YANG MEMPENGARUHI CASH HOLDINGS PERUSAHAAN DI BURSA EFEK INDONESIA

Jurnal Manajemen ◽

10.24912/jm.v21i3.255 ◽

2017 ◽

Vol 21 (3) ◽

pp. 336

Author(s):

Suherman Suherman

Keyword(s):

Cash Flow ◽

Stock Exchange ◽

Cash Holdings ◽

Fixed Effect Model ◽

Sales Growth ◽

Financial Firms ◽

Positive Effects ◽

Cash Conversion Cycle ◽

Effect Model ◽

Negative Effect

The purpose of this study is to examine determinants of cash holdings of non-financial firms listed on Indonesia Stock Exchange between 2012 and 2015. Sample of this research covers 328 firms (1312 observations). This research employs fixed effect model. The results show that net working capital and sales growth have positive effects on cash holding, while firm size has negative effect. Cash flow, cash flow variability, cash conversion cycle, liquidity, leverage do not affect the cash holdings.

Download Full-text

Analisis Determinan Profitabilitas Perusahaan Manufaktur pada 2014-2019

Journal of Business and Banking ◽

10.14414/jbb.v10i2.2486 ◽

2021 ◽

Vol 10 (2) ◽

pp. 291

Author(s):

Audi Gracia Wasisto ◽

Nora Amelda Rizal

Keyword(s):

Firm Size ◽

Stock Exchange ◽

Future Research ◽

Significant Positive Effect ◽

Manufacturing Companies ◽

Working Capital ◽

Panel Data Regression ◽

Negative Effect ◽

Operational Activities ◽

Positive Effect

Profitability is very important for a company to carry out their operational activities because in general they cannot not survive without the ability to generate profits. This study aims to determine the effect of working capital, firm size, company efficiency, liquidity, and leverage on profitability in manufacturing companies listed in the Indonesia Stock Exchange 2014-2019. This research used purposive sampling with 108 sample data. The data were analyzed using panel data regression using eviews 11 software. It showes that working capital, firm size, company efficiency, liquidity, and leverage simultaneously have a significant effect on profitability. Partially, working capital has a significant positive effect on profitability. Firm size has no significant positive effect on profitability (ROE), but it has a significant positive effect on profitability (EPS). Company efficiency has a significant positive effect on profitability. Liquidity has no significant positive effect on profitability (ROE) and has no negative effect on profitability (EPS). Leverage DER and LDAR have no significant negative effect on profitability. Therefore, this research can be a reference for future research to analyze the determininant of profitability.

Download Full-text

Effect of Female CEO and CFO on Cash Holdings on Food and Beverages Companies Listed on Indonesia Stock Exchange

Accounting and Finance ◽

10.33146/2307-9878-2021-3(93)-26-38 ◽

2021 ◽

pp. 26-38

Author(s):

Ade Awaludin ◽

◽

Suherman Suherman ◽

Gatot Nazir Ahmad ◽

◽

...

Keyword(s):

Stock Exchange ◽

Gender Diversity ◽

Current Trend ◽

Cash Holdings ◽

Fixed Effect Model ◽

Practical Significance ◽

Significant Positive Effect ◽

Food And Beverages ◽

The Impact ◽

Positive Effect

The current trend in the management of large companies is implementation of the gender diversity measures. The existence of women at the top management became one of the growing issues recently, especially in corporate governance. The prevailing opinion is still that men are better and more deserving to hold the power of leaders in the company. But authors believe that this statement needs to be verified. The purpose of this study is to assess the impact of female CEO and CFO on cash holdings of Indonesian food and beverages companies. The data used in this study are the data from annual report of food and beverage companies listed on the Indonesia Stock Exchange for the 2016-2020 period. The company's cash holdings in this study are assessed on the basis of two indicators: a) the ratio of the cash and cash equivalents to the company's total assets; b) the ratio of the cash and cash equivalents to the company's net assets. The sample of the study is presented by 25 companies with 125 observations. For data analysis authors use the panel data regression analysis and the fixed-effect model. Microsoft Excel 2013, Stata/MP 16.0 and Reviews 10 software were used for data processing. The analysis results show that the female CEOs have a significant positive effect on the company's cash holdings, while female CFOs have no significant positive effect on the company's cash holdings. These results have the practical significance because they will help the business owner to make the right decision when he selects candidates for the position of CEO/CFO.

Download Full-text

Kinerja Keuangan terhadap Profitabilitas pada Perusahaan Pertambangan di Bursa Efek Indonesia

Jurnal Bisnis, Manajemen, dan Ekonomi ◽

10.47747/jbme.v2i1.204 ◽

2021 ◽

Vol 2 (1) ◽

pp. 1-21

Author(s):

Ida Zuraidah ◽

Rosalina Ghozali

Keyword(s):

Firm Size ◽

Statistical Data ◽

Stock Exchange ◽

Share Price ◽

Significant Positive Effect ◽

Working Capital ◽

Mining Companies ◽

Negative Effect ◽

The Stability ◽

Positive Effect

This study uses panel data, using multiple linear regression for statistical data processing. This study aims to analyze the effect of Working Capital Turnover (X1), Firm Size (X2), Liquidity (X3), Leverage (X4) on profitability (Y) in mining companies on the Indonesia Stock Exchange (BEI) 2015-2019. Statistical calculations produce a regression equation Y = -0.006571 + 0.000812X1 - 0.000143X2 + 0.036545X3 - 0.011253X4 + e. This study concludes first, Working Capital Turnover does not have a significant positive effect on profitability. Second, Firm Size does not have a significant negative effect on profitability. Third, liquidity has a significant positive effect on profitability. Fourth, Leverage does not have a significant positive effect on profitability of mining companies on the Indonesia Stock Exchange (IDX). Fifth, Working Capital Turnover, Firm Size, Liquidity, Leverage together, positively and significantly affect profitability (Y) in mining companies on the Indonesia Stock Exchange (IDX). The researcher gives the first suggestion, mining companies listed on the Indonesia Stock Exchange must maintain the stability of their financial performance, if necessary, increase their working capital, firm size, liquidity and leverage in order to maintain and increase the company's profitability. Second, shareholders of Mining Companies listed on the Indonesia Stock Exchange do not immediately withdraw their shares when the share price drops, because it is hoped that stability will not take too long and working capital, firm size, liquidity and leverage will increase again so that they can increase the

Download Full-text

Determinan Cash Holdings dan Excess Value

Jurnal Ilmiah Akuntansi Kesatuan ◽

10.37641/jiakes.v5i1.17 ◽

2018 ◽

Vol 5 (1) ◽

pp. 45-57

Author(s):

Iis Wahyuni ◽

Soeratno . ◽

Suyanto .

Keyword(s):

Cash Flow ◽

Firm Size ◽

Structural Equation ◽

Stock Exchange ◽

Cash Holdings ◽

Equation Modeling ◽

Manufacturing Companies ◽

Working Capital ◽

Excess Value ◽

Size Growth

This research aim to analyze the determinants of cash holdings and the excess value on manufacturing companies listed in Indonesia Stock Exchange 2011-2015 period.Model research analysis using Structural Equation Modeling (SEM). The independent variables are firm size, leverage, cash flow, net working capital and growth equity. And the dependent variable is the excess cash holdings and value. This study uses panel data from 320 observational data of companies that have been listed in the Indonesia Stock Exchange in the period 2011-2015. The results showed that 1) cash flow, net working capital have significant effect on cash holdings. 2) leverage, firm size, growth equity doesn’t have significant effect on cash holdings. 3) cash holdings have significant effect on the excess value. 4) cash flow, net working capital, leverage doesn’t have significant effect on the excess value. 5) firm size, growth equity doesn’t have significant effect on the excess value.This research aim to analyze the determinants of cash holdings and the excess value on manufacturing companies listed in Indonesia Stock Exchange 2011-2015 period.Model research analysis using Structural Equation Modeling (SEM). The independent variables are firm size, leverage, cash flow, net working capital and growth equity. And the dependent variable is the excess cash holdings and value. This study uses panel data from 320 observational data of companies that have been listed in the Indonesia Stock Exchange in the period 2011-2015. The results showed that 1) cash flow, net working capital have significant effect on cash holdings. 2) leverage, firm size, growth equity doesn’t have significant effect on cash holdings. 3) cash holdings have significant effect on the excess value. 4) cash flow, net working capital, leverage doesn’t have significant effect on the excess value. 5) firm size, growth equity doesn’t have significant effect on the excess value.This research aim to analyze the determinants of cash holdings and the excess value on manufacturing companies listed in Indonesia Stock Exchange 2011-2015 period.Model research analysis using Structural Equation Modeling (SEM). The independent variables are firm size, leverage, cash flow, net working capital and growth equity. And the dependent variable is the excess cash holdings and value. This study uses panel data from 320 observational data of companies that have been listed in the Indonesia Stock Exchange in the period 2011-2015. The results showed that 1) cash flow, net working capital have significant effect on cash holdings. 2) leverage, firm size, growth equity doesn’t have significant effect on cash holdings. 3) cash holdings have significant effect on the excess value. 4) cash flow, net working capital, leverage doesn’t have significant effect on the excess value. 5) firm size, growth equity doesn’t have significant effect on the excess value.This research aim to analyze the determinants of cash holdings and the excess value on manufacturing companies listed in Indonesia Stock Exchange 2011-2015 period.Model research analysis using Structural Equation Modeling (SEM). The independent variables are firm size, leverage, cash flow, net working capital and growth equity. And the dependent variable is the excess cash holdings and value. This study uses panel data from 320 observational data of companies that have been listed in the Indonesia Stock Exchange in the period 2011-2015. The results showed that 1) cash flow, net working capital have significant effect on cash holdings. 2) leverage, firm size, growth equity doesn’t have significant effect on cash holdings. 3) cash holdings have significant effect on the excess value. 4) cash flow, net working capital, leverage doesn’t have significant effect on the excess value. 5) firm size, growth equity doesn’t have significant effect on the excess value.This research aim to analyze the determinants of cash holdings and the excess value on manufacturing companies listed in Indonesia Stock Exchange 2011-2015 period.Model research analysis using Structural Equation Modeling (SEM). The independent variables are firm size, leverage, cash flow, net working capital and growth equity. And the dependent variable is the excess cash holdings and value. This study uses panel data from 320 observational data of companies that have been listed in the Indonesia Stock Exchange in the period 2011-2015. The results showed that 1) cash flow, net working capital have significant effect on cash holdings. 2) leverage, firm size, growth equity doesn’t have significant effect on cash holdings. 3) cash holdings have significant effect on the excess value. 4) cash flow, net working capital, leverage doesn’t have significant effect on the excess value. 5) firm size, growth equity doesn’t have significant effect on the excess value.

Download Full-text

Faktor- Faktor Yang Mempengaruhi Cash Holding

Jurnal Riset Akuntansi ◽

10.34010/jra.v12i1.2659 ◽

2020 ◽

Vol 12 (1) ◽

pp. 25-41

Author(s):

Fany Resti Fauzie ◽

Anita Wijayanti ◽

Purnama Siddi

Keyword(s):

Data Analysis ◽

Cash Flow ◽

Financial Management ◽

Capital Expenditure ◽

Stock Exchange ◽

Cash Holdings ◽

Sampling Technique ◽

Cash Holding ◽

Manufacturing Companies ◽

Working Capital

Increasing business competition pushes company to optimize financial management properly, especially on cash. Efforts should be made to manage cash by knowing the factors that affect the cash that must be owned by the company so that the use of cash can be utilized optimally. This study aims to determine the effect of Cash Flow, Capital Expenditure, Net Working Capital and Leverage on Cash Holding in Food and Beverage sub-sector manufacturing companies listed on the Indonesia Stock Exchange for the period 2015-2018. The sampling technique using purposive sampling, so as to obtain a sample of 44. Data analysis technique used in this study is multiple linear regression using SPSS version 22. Based on the results of data analysis conducted shows that there is an influence of Cash Flow, Net Working Capital, Leverage Cash Holdings, while Capital Expenditure does not affect Cash Holdings. The benefits of this research are as a consideration for management in making decisions related to the factors that influence Cash Holding, as well as a consideration for investors if they want to invest in a company Keywordsi: Cash Holding, Cash Flow, Capital Expenditure, Leverage, Net Working Capital

Download Full-text

PENGARUH LEVERAGE DAN UKURAN PERUSAHAAN TERHADAP NILAI PERUSAHAAN DENGAN PROFITABILITAS SEBAGAI VARIABEL MEDIASI

E-Jurnal Manajemen Universitas Udayana ◽

10.24843/ejmunud.2019.v08.i05.p16 ◽

2019 ◽

Vol 8 (5) ◽

pp. 3028

Author(s):

Ni Putu Ira Kartika Dewi ◽

Nyoman Abundanti

Keyword(s):

Firm Size ◽

Consumer Goods ◽

Firm Value ◽

Stock Exchange ◽

Sampling Technique ◽

Significant Positive Effect ◽

Analysis Technique ◽

Negative Effect ◽

Consumer Goods Industry ◽

Positive Effect

The purpose of this study was to determine the effect of leverage and firm size on firm value with profitability as intervening variable on consumer goods industry in the Indonesian Stock Exchange. The population in this study are companies in the consumer goods industry Indonesian Stock Exchange amounted to 46 companies 2014-2017. Sampling technique used was purposive sampling, so that the final sample that is obtained is 21, a company incorporated in consumer goods industry in Indonesian Stock Exchange 2014-2017. Data analysis technique used in this research is path analysis and Sobel test. The result shows that leverage has significant negative effect on profitability and firm size has significant positive effect on profitability. Leverage, firm size, and profitability have significant positive effect on firm value. Profitability mediates the effect of leverage on firm value significantly and profitability also mediates the effect of firm size on firm value significantly.

Download Full-text

PENGARUH LEVERAGE, INTENSITAS ASET TETAP, DAN UKURAN PERUSAHAAN TERHADAP AGRESIVITAS PAJAK

Kompak :Jurnal Ilmiah Komputerisasi Akuntansi ◽

10.51903/kompak.v14i2.573 ◽

2021 ◽

Vol 14 (2) ◽

pp. 417-427

Author(s):

Eka Ridho Nur Rochmah ◽

Rachmawati Meita Oktaviani

Keyword(s):

Firm Size ◽

Stock Exchange ◽

Sampling Technique ◽

Significant Positive Effect ◽

Manufacturing Companies ◽

Tax Aggressiveness ◽

Panel Data Regression ◽

Data Regression ◽

Fixed Assets ◽

Positive Effect

This study aims to determine the effect of leverage, fixed asset intensity, and firm size on tax aggressiveness. The population in this study are manufacturing companies listed on the Indonesia Stock Exchange (IDX) for the 2017-2020 period. The sample of this research was taken using non-probability sampling method with purposive sampling technique and certain criteria. The method used in this research is panel data regression analysis. The results of this study indicate that leverage has a significant positive effect on tax aggressiveness, while the intensity of fixed assets has no effect on tax aggressiveness, and firm size has a significant positive effect on tax aggressiveness. The implications of the results of this study provide input to companies in making decisions to minimize the tax burden paid so that companies can be more aggressive towards taxes.

Download Full-text

The Role Of Cash Holdings, Working Capital, Dividend Payout On Capital Investment

Journal of Applied Business Research (JABR) ◽

10.19030/jabr.v34i3.10165 ◽

2018 ◽

Vol 34 (3) ◽

pp. 419-426

Author(s):

Andrew Chan

Keyword(s):

Cash Flow ◽

Firm Value ◽

Capital Investment ◽

Stock Exchange ◽

Cash Holdings ◽

Payout Policy ◽

Working Capital ◽

Dividend Payout ◽

Investment Spending ◽

The Relationship

An objective of this paper is to investigate the relationship between firms' capital investment spending, cash holdings, and working capital in an expanding Asian financial market. A sample of publicly traded manufacturing firms on the Hong Kong Stock Exchange was examined during the period 2005-2014. The empirical results provide strong and statistically significant evidence on the effect of cash flow on investment. Working capital also exhibits significant relationship with capital investment spending, though the relationship is not as strong and significant as that with cash flow and cash holding. Firms with low dividend payout policy over the sample period depended heavily on cash flow, changes in cash flow and, to a lesser extent, on working capital to finance spending on fixed plant and equipment. These results suggest that the effect of capital investment spending financed by internal cash flow on firm value may depend on a firm's dividend payout.

Download Full-text

PENGARUH CORPORATE GOVERNANCE TERHADAP KINERJA PERUSAHAAN MANUFAKTUR

Jurnal Ekonomi dan Bisnis Airlangga ◽

10.20473/jeba.v28i12018.57-73 ◽

2020 ◽

Vol 28 (1) ◽

pp. 57

Author(s):

RHETNO WULANSARI ◽

ANDRY IRWANTO

Keyword(s):

Firm Size ◽

Stock Exchange ◽

Sampling Technique ◽

Manufacturing Firms ◽

Audit Committees ◽

Test Results ◽

Significant Positive Effect ◽

Manufacturing Companies ◽

Insider Ownership ◽

Positive Effect

Introduction: This study aims to determine the effect of insider ownership, audit committees, leverage, firm size, the number of independent commissioner on the performance of manufacturing firms in the Indonesian stock exchange. Methods: The type of data used in this research is quantitative data. This study uses a tool to answer the hypothesis in the form of multiple linear regression. The number of samples taken by the sampling technique as many as 50 companies listed in Indonesia Stock Exchange. Results: From the test results indicate that there is insider ownership, audit committees, leverage significant positive effect on the performance of manufacturing companies in Indonesia Stock Exchange. firm size and the number of independent commissioners no significant positive effect on the performance of manufacturing companies in Indonesia Stock Exchange. Conclusion and suggestion: The implication of these findings is that insider ownership, audit committees, and leverage it will be able to produce a good performance. Although firm size and the number of independent commissioners has no effect, but still must be considered, because if the firm size and the number of independent commissioners are not in accordance with the provisions of SFAS may result in the presence of certain interests that are not in accordance with the company's goals.

Download Full-text