Determinants of Cash Holding: An Empirical Study of Non-Cyclical Consumer Companies on the Indonesia Stock Exchange

Publication Name : Jurnal Akuntansi dan Keuangan
Publisher : Department of Accounting, Faculty of Economics & Business

DOI : DOI: 10.29103/jak.v13i2.24162

Date : 15 September 2025


This study aims to examine the effect of net working capital, growth opportunity, and leverage on cash holding in non-cyclical consumer sector companies listed on the Indonesia Stock Exchange (IDX) during the 2021-2023 period. The results show that simultaneously, net working capital, growth opportunity, and leverage have a significant effect on cash holding. Partially, net working capital has a significant positive effect on cash holding while growth opportunity has no effect on cash holding, and the leverage variable has a negative effect on cash holding. Future research is recommended to cover more industrial sectors as well as a longer period of time and can add other variables using different analytical methods.

Author Order
3 of 3
Year
2025
Source
Vol. 13 No. 2 (2025): Jurnal Akuntansi dan Keuangan: September 2025
Page
160-167