Penelitian ini dilakukan dengan tujuan untuk menguji variable independen corporate governance dengang menggunakan empat komponen dari variable corporate governance yaitu family ownership, institutional ownership, size of board commissioner, dan proportion of independent commissioner yang selanjutnya akan melalui hasil pengujian untuk menemukan pengaruhnya dengan varaibel dependen cash holding. Objek yang dijadikan sebagai dasar penelitian adalah perusahaan sektor consumer goods – cyclical yang terdaftar di BEI dengan tahun observasi 2018-2021. Pengumpulan sampel penelitian menggunakan purposive sampling dengan total sampel adalah 270 sampel. Hasil penelitian adalah (1) family ownership berpengaruh negative terhadap cash holding (2) institutional ownership tidak berpengaruh terhadap cash holding (3) size of board commissioner tidak berpengaruh terhadap cash holding (4) proportion of independent commissioner berpengaruh negative terhadap cash holding / The purposes of this study are to find the correlation from independent variable corporate governance. Component of CG variable that used in this studies are family ownership, institutional ownership, size of board commissioner, dan proportion of independent commissioner. Variable are being tested to find the correlation with dependent variable cash holding. This studies uses sample from consumer goods-cyclical sector companies that listed in BEI from 2018 – 2021. Purposive sampling was used to collect samples and 270 samples was used in this studies. The result are (1) family ownership has negative and significant effect on cash holding (2) institutional ownership has no effect on cash holding (3) size of board commissioner has no effect on cash holding (4) proportion of independent commissioner has negative and significant effect on cash holding