THE FACTORS THAT INFLUENCE FIRM’S CASH HOLDINGS
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Institusion
Universitas Atma Jaya Yogyakarta
Author
Herijanto, Elleonora Valencia
Subject
Public Sector Accounting
Datestamp
2016-06-20 07:50:14
Abstract :
This research is conducted to find evidences relate to the determinant of firm?s cash holdings. Every firm will have different policy and decision relate to the cash level or cash holdings. Many factors can affect the determinant of cash holdings. This research uses 84 Indonesian listed manufacturing firms from the year 2006 until 2014. Therefore, there are 756 firm-year observations. The research tests 6 independent variables with 1 dependent variable. Multiple regression analysis is used for the hypothesis testing. The results found that there are significant relationships of net working capital, dividend payment, sales growth, and cash from operations to firm?s cash holdings. There is no significant effect of firm size and firm age to firm?s cash holdings. Those results are following the existing theories which are static trade off theory and pecking order theory. This research is also consistent with prior researchers? findings
This research is conducted to find evidences relate to the determinant of firm?s cash holdings. Every firm will have different policy and decision relate to the cash level or cash holdings. Many factors can affect the determinant of cash holdings. This research uses 84 Indonesian listed manufacturing firms from the year 2006 until 2014. Therefore, there are 756 firm-year observations. The research tests 6 independent variables with 1 dependent variable. Multiple regression analysis is used for the hypothesis testing. The results found that there are significant relationships of net working capital, dividend payment, sales growth, and cash from operations to firm?s cash holdings. There is no significant effect of firm size and firm age to firm?s cash holdings. Those results are following the existing theories which are static trade off theory and pecking order theory. This research is also consistent with prior researchers? findings
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