CASH HOLDING DI PT. SUMMARECON AGUNG TBK: PENGARUH ARUS KAS DAN PELUANG PERTUMBUHAN
DOI:
https://doi.org/10.15575/fjsfm.v4i1.27669Keywords:
Cash Holding, Peluang Pertumbuhan, Arus Kas dari Aktivitas OperasiAbstract
Selama pendemi Covid-19 kinerja keuangan perusahaan sektor properti dan real estate mengalami penurunan. Namun, tahun 2022 menghadirkan peluang yang menguntungkan, tak terkecuali saham PT Summarecon Agung Tbk (SMRA); dengan harga yang wajar dan ekspektasi kinerja yang solid, saham SMRA memberikan investor potensi masa depan. Selain prospek ke depan yang baik, perusahaan juga membutuhkan likuidasi yang baik untuk menjaga kesehatannya dan menarik investor untuk berinvestasi. Maka dari itu penelitian ini bertujuan untuk menilai faktor yang mempengaruhi cash holding pada PT Summarecon Agung Tbk (SMRA). Penelitian menggunakan metode deksriptif dengan pendekatan kuantitatif. Jenis penelitian ini merupakan penelitian kuantitatif dengan data sekunder sehingga data bersumber dari laporan tahunan SMRA. Analisis data menggunakan regresi berganda dan terlebih dahulu lolos uji asumsi klasik. Hasil penelitian ini menyimpulkan cash holding pada PT Summarecon Agung Tbk, hanya dipengaruhi oleh growth opportunity.
References
Abdul Halim, & Hanafi, M. M. (2009). Analisis Laporan Keuangan. UPP STIM YKPN.
Alicia, R., Putra, J., Fortuna, W., Felin, F., & Purba, M. I. (2020). Pengaruh Growth Opportunity, Leverage dan Firm Size terhadap Cash Holding Perusahaan Properti dan Real Estate. Owner (Riset dan Jurnal Akuntansi), 4(2), 322. https://doi.org/10.33395/owner.v4i2.219
Alnori, F., & Bugshan, A. (2023). Cash holdings and firm performance: Empirical analysis from Shariah-compliant and conventional corporations. International Journal of Islamic and Middle Eastern Finance and Management, 16(3), 498–515. https://doi.org/10.1108/IMEFM-01-2022-0005
Alsmadi, S., Alkhataybeh, A., & Shakhatreh, M. Z. (2022). Corporate cash holdings and disclosure violations: An empirical investigation of Jordanian listed companies. Journal of Islamic Accounting and Business Research, 13(3), 568–580. https://doi.org/10.1108/JIABR-07-2021-0199
Aurillya, S., Ulupui, I. G. K. A., & Khairunnisa, H. (2021). Pengaruh Growth Opportunities, Intensitas Modal, dan Debt Covenant terhadap Konservatisme Akuntansi. Jurnal Akuntansi, Perpajakan dan Auditing (JAPA), 2(3). http://pub.unj.ac.id/index.php/japa/article/view/479
Bangun, N., & Wijaya, S. H. (2019). Pengaruh Arus Kas, Leverage, Dan Ukuran Perusahaan Terhadap Cash Holding. Jurnal Paradigma Akuntansi, 1(2), 495. https://doi.org/10.24912/jpa.v1i2.5020
Bigelli, M., & Sánchez-Vidal, J. (2012). Cash holdings in private firms. Journal of Banking & Finance, 36(1), 26–35. https://doi.org/10.1016/j.jbankfin.2011.06.004
Fahmi, I. (2014). Manajemen Keuangan Perusahaan dan Pasar Moda. Mitra Wacana Media.
Hadiwijaya, I., & Trisnawati, E. (2019). Pengaruh Arus Kas Dan Belanja Modal Terhadap Cash Holding Pada Perusahaan Manufaktur. Jurnal Paradigma Akuntansi, 1(2), 416. https://doi.org/10.24912/jpa.v1i2.5010
Hanifah, S. F., & Widiawati, W. (2020). Pengaruh Peluang Pertumbuhan Dan Rasio Pengembalian Aktiva Terhadap Penahanan Kas Pada PT. Indocement Tunggal Prakarsa, Tbk. Finansha: Journal of Sharia Financial Management, 1(1), 39–47. https://doi.org/10.15575/fsfm.v1i1.10049
Heriyanto, M. (2023). Summarecon catat laba Rp625,37 miliar di 2022, naik 93,19 persen. Antara. https://www.antaranews.com/berita/3454905/summarecon-catat-laba-rp62537-miliar-di-2022-naik-9319-persen
Hutauruk, D. M. (2023). Sektor Properti Diperkirakan Tumbuh Tahun 2023, Pengembang Mulai Rilis Produk-produk. Kontan. https://industri.kontan.co.id/news/sektor-properti-diperkirakan-tumbuh-tahun-2023-pengembang-mulai-rilis-produk-produk
Kasmir. (2014). Analisis Laporan Keuangan. Raja Grafindo Persada.
Kusumawati, S., Titisari, K. H., & Nurlaela, S. (2020). Determinan Cash Holding pada Perusahaan Property dan Real Estate di Bursa Efek Indonesia. Jurnal Penelitian Ekonomi Dan Akuntansi (JPENSI), 5(1).
Liadi, C. C., & Suryanawa, I. K. (2018). Pengaruh Ukuran Perusahaan, Net Working Capital, Cash Flow, dan Cash Conversion Cycle pada Cash Holding. E-Jurnal Akuntansi, 1474. https://doi.org/10.24843/EJA.2018.v24.i02.p24
Liestyasih, L. P. E., & Wiagustini, L. P. (2017). Pengaruh Firm Size Dan Growth Opportunity Terhadap Cash Holding Dan Firm Value. E-Jurnal Ekonomi dan Bisnis Universitas Udayana, 3607. https://doi.org/10.24843/EEB.2017.v06.i10.p07
Mangesti, R. S. (2019). Mediation effects financial performance toward influences of corporate growth and assets utilization. International Journal of Productivity and Performance Management, 68(5), 981–996. https://doi.org/10.1108/IJPPM-05-2018-0199
Mohammadi, M., Kardan, B., & Salehi, M. (2018). The relationship between cash holdings, investment opportunities and financial constraint with audit fees. Asian Journal of Accounting Research, 3(1), 15–27. https://doi.org/10.1108/AJAR-07-2018-0016
Nuraeni, C., & Tama, A. I. (2019). Effect Of Managerial Ownership, Debt Covenant, Political Cost And Growth Opportunities On Accounting Conservatism. International Journal of Economics, Business and Accounting Research (IJEBAR), 3. https://jurnal.stie-aas.ac.id/index.php/IJEBAR/article/view/591
Rahman, R. H. (2021). Pengaruh Profitabilitas, Cash Flow, Likuiditas dan Net Working Capital terhadap Cash Holding dengan Ukuran Perusahaan sebagai Variabel Moderating pada Perusahaan Real Estate dan Properti di Indonesia. Jurnal Ekonomi KIAT, 32(1). https://doi.org/10.25299/kiat.2021.vol32(1).7405
Rehman, A. U., Ahmad, T., Hussain, S., & Hassan, S. (2021). Corporate cash holdings and firm life cycle: Evidence from China. Journal of Asia Business Studies, 15(4), 625–642. https://doi.org/10.1108/JABS-07-2020-0272
Saxena, V., & Sahoo, S. (2022). Impact of banking relationships and ownership concentration on corporate cash holdings in India. Asian Review of Accounting, 30(4), 465–489. https://doi.org/10.1108/ARA-01-2022-0014
Siddiqua, G. A., Ur Rehman, A., & Hussain, S. (2019). Asymmetric targeting of corporate cash holdings and financial constraints in Pakistani firms. Journal of Asian Business and Economic Studies, 26(1), 76–97. https://doi.org/10.1108/JABES-07-2018-0056
Stice, J. D., Stice, E. K., Cottrell, D. M., & Stice, D. (2018). Chapter 10 Teaching Operating Cash Flow: One Matrix for Analysis – Two Methods for Presentation. Dalam T. G. Calderon (Ed.), Advances in Accounting Education (Vol. 22, hlm. 199–215). Emerald Publishing Limited. https://doi.org/10.1108/S1085-462220190000022010
Sufiyati, Y. (2021). Faktor- Faktor Yang Mempengaruhi Cash Holding Pada Perusahaan Property Dan Real Estate. Jurnal Paradigma Akuntansi, 3(2), 679. https://doi.org/10.24912/jpa.v3i2.11717
Sunarsip. (2021). Outlook Properti 2022 dan Prasyarat Pertumbuhannya [Opini]. CNBC Indonesia. https://www.cnbcindonesia.com/opini/20211220113050-14-300546/outlook-properti-2022-dan-prasyarat-pertumbuhannya
Supriaji, M. L., Slamet, B., & Kohar, A. (2022). Pengaruh Levarage Dan Arus Kas Terhadap Cash Holding Pada Perusahaan Properti Dan Real Estate Yang Terdaftar Di Bursa Efek Indonesia Tahun 2018-2020. Jurnal Online Mahasiswa (JOM) Bidang Akuntansi, 9(3).
Susilo, T. P., & Aghni, J. M. (2015). Analisis Pengaruh Kepemilikan Institusional, Debt Covenant, Growth Opportunities, Dan Profitabilitas Terhadap Konservatisme Akuntansi. 5(2). https://journal.bakrie.ac.id/index.php/journal_MRA/article/view/1729
Wasiuzzaman, S. (2014). Analysis of corporate cash holdings of firms in Malaysia. Journal of Asia Business Studies, 8(2), 118–135. https://doi.org/10.1108/JABS-10-2012-0048
Wulandari, E. A., & Setiawan, M. A. (2019). Pengaruh Growth Opportunity, Net Working Capital, Cash Conversion Cycle Dan Dividend Payout Terhadap Cash Holding. Jurnal Eksplorasi Akuntansi, 1(3), 1259–1274. https://doi.org/10.24036/jea.v1i3.141
Downloads
Published
Issue
Section
License
Authors who publish with this journal agree to the following terms:
- Authors retain copyright and grant the journal right of first publication with the work simultaneously licensed under a Creative Commons Attribution License that allows others to share the work with an acknowledgment of the work's authorship and initial publication in this journal.
- Authors are able to enter into separate, additional contractual arrangements for the non-exclusive distribution of the journal's published version of the work (e.g., post it to an institutional repository or publish it in a book), with an acknowledgment of its initial publication in this journal.
- Authors are permitted and encouraged to post their work online (e.g., in institutional repositories or on their website) prior to and during the submission process, as it can lead to productive exchanges, as well as earlier and greater citation of published work (See The Effect of Open Access).