Analisis faktor-faktor yang mempengaruhi cash holding perusahaan

Belfran, Hot (2016) Analisis faktor-faktor yang mempengaruhi cash holding perusahaan. Masters thesis, Universitas Pelita Harapan.

	Text (Title) Title.pdf Restricted to Registered users only Available under License Creative Commons Attribution Non-commercial Share Alike. Download (1MB)
Preview	Text (Abstract) Abstract.pdf Available under License Creative Commons Attribution Non-commercial Share Alike. Download (175kB) | Preview
Preview	Text (ToC) ToC.pdf Available under License Creative Commons Attribution Non-commercial Share Alike. Download (220kB) | Preview
Preview	Text (Chapter 1) Chapter 1.pdf Available under License Creative Commons Attribution Non-commercial Share Alike. Download (189kB) | Preview
	Text (Chapter 2) Chapter 2.pdf Restricted to Registered users only Available under License Creative Commons Attribution Non-commercial Share Alike. Download (165kB)
	Text (Chapter 3) Chapter 3.pdf Restricted to Registered users only Available under License Creative Commons Attribution Non-commercial Share Alike. Download (273kB)
	Text (Chapter 4) Chapter 4.pdf Restricted to Registered users only Available under License Creative Commons Attribution Non-commercial Share Alike. Download (319kB)
	Text (Chapter 5) Chapter 5.pdf Restricted to Registered users only Available under License Creative Commons Attribution Non-commercial Share Alike. Download (184kB)
Preview	Text (Bibliography) Bibliography.pdf Available under License Creative Commons Attribution Non-commercial Share Alike. Download (164kB) | Preview
	Text (Appendices) Appendices.pdf Restricted to Repository staff only Available under License Creative Commons Attribution Non-commercial Share Alike. Download (235kB)

Abstract

Tesis ini ditujukan untuk menganalisis faktor-faktor yang mempengaruhi cash holding suatu perusahaan. Penelitian dilakukan terhadap 113 perusahaan yang terdaftar di Bursa Efek Indonesia dalam periode dari tahun 2010 hingga 2014 dan menggunakan metode data panel. Adapun faktor-faktor yang mempengaruhi cash holding perusahaan, antara lain: Pertama yaitu kualitas pemerintahan yang diukur dengan variabel tingkat korupsi kota, pembayaran perusahaan dalam pajak dan pembayaran administratif, dan pembayaran travel dan entertainment. Kedua yaitu kualitas finansial perusahaan yang diukur dengan variabel arus kas, rasio harga saham terhadap nilai buku perusahaan (q), ukuran perusahaan, leverage, risiko arus kas, pinjaman jangka pendek, pinjaman bank, rasio dari account payable, modal bersih perusahaan, pembayaran dividen dan ketersediaan kredit. Ketiga yaitu kualitas karakteristik kota yang diukur dengan pinjaman perusahaan terhadap produk domestik bruto (PDB), PDB per kapita, dan pertumbuhan PDB. Penelitian dilakukan dengan menggunakan dua langkah regresi yaitu fixed effect dan random effect. Hasil penelitian menunjukkan bahwa tingkat korupsi kota, pembayaran pajak dan administrasi perusahaan dan pembayaran travel dan entertainment tidak memiliki pengaruh signifikan terhadap cash holding perusahaan, melainkan aktivitas perusahaan dalam melakukan pinjaman terhadap bank dan pertumbuhan PDB daerah dapat memberikan pengaruh signifikan terhadap cash holding perusahaan / This thesis is aimed at analyzing economic and non-economic factors which affect company’s cash holding. The object of analysis includes 113 companies that are registered at the “Jakarta Stock Exchange” covering the period from 2010 until 2014, using panel data. Factors identified to be affecting company’s cash holding include: first is the local government quality, as measured by corruption city level, lightness of tax burden, government cleanliness, and aggregate government quality. Second is the firm-level financial characteristic as measured by variable cash flow, Q, firm size, leverage, cash flow risk, short term debt, bank loan, accounts payable, NWC, capex, dividend payout (0/1) and lines of credit. Third is city-level characteristic, as measured by variable private credit/GDP, GDP per capita, and GDP Growth. This study performed a two step regressions, fixed effect and random effect. The results shows that government quality does not affected a company’s cash holding but company’s financial such as bank loans and economic activity measured by GDP growth have significantly affected company’s cash holding

Actions (login required)

View Item