Daftar Isi:
  • Cash is the most liquid asset in a company, so it needed a strategy in holding cash to avoid cash shortage. Companies that have failed to deal with liquidity problems have focused manager on the importance of cash holding policy. The implementation of cash hold policy is expected to have an impact on the company's operational activities running smoothly. The purpose of this research is to analyze the impact of Cash Conversion Cycle (CCC), Capital Expenditure (CAPEX), and Cash Flow (CF) on Cash Holding (CH) policy. Samples in this research are 33 property and real estate firms that listed on Indonesia Stock Exchange from 2013-2016 by used secondary data. This research used multiple linear regression analysis and data were analyzed by software SPSS version 24. This research uses pecking order theory to test the factors that affect cash holding. The result shows that Cash Flow effect Cash Holding policy, while Cash Conversion Cycle and Capital Expenditure have no effect on Cash Holding policy. Key words: Cash Holding, Cash Conversion Cycle, Capital Expenditure, Cash Flow.