THE EFFECT OF SALES GROWTH, CASH CONVERSION CYCLE, AND CAPITAL EXPENDITURE ON CASH HOLDING
Abstract
ABSTRACT
This study analyzes the effect of sales growth, cash conversion cycle, and capital expenditure on cash holding. The population in this study were 78 property and real estate sector companies listed on the Indonesia Stock Exchange from 20162020. The sample selection technique used was purposive sampling and obtained 28 companies for 5 years and the total data obtained were 140 research data. The data analysis method used in this research is panel data regression analysis. The results showed that sales growth, cash conversion cycle, and capital expenditures simultaneously affected cash holdings. While partially sales growth has an effect on cash holding, cash conversion cycle and capital expenditure have no effect on cash holding. Thus, to maintain the availability of cash in the company it is necessary to maintain sales growth.
ABSTRAK
Penelitian ini bertujuan untuk menganalisis pengaruh pertumbuhan penjualan, siklus konversi kas, dan belanja modal terhadap cash holding. Populasi dalam penelitian ini adalah 78 perusahaan sektor properti dan real estate yang terdaftar di Bursa Efek Indonesia pada tahun 20162020. Teknik pemilihan sampel yang digunakan adalah purposive sampling dan diperoleh 28 perusahaan selama 5 tahun dan total data yang diperoleh sebanyak 140 data penelitian. Metode analisis data yang digunakan dalam penelitian ini adalah analisis regresi data panel. Hasil penelitian menunjukkan bahwa secara simultan pertumbuhan penjualan, siklus konversi kas dan pengeluaran modal berpengaruh terhadap kepemilikan kas. Sedangkan secara parsial sales growth berpengaruh terhadap cash holding, cash conversion cycle dan capital expenditure tidak berpengaruh terhadap tidak berpengaruh terhadap cash holding. Dengan demikian, untuk menjaga ketersediaan kas dalam perusahaan perlu dengan menjaga pertumbuhan penjualan.
Keywords
References
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DOI: 10.34204/jiafe.v8i1.5047
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