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Shariah Compliance and Corporate Cash Holdings

In: Proceedings of the International Conference on Entrepreneurship, Leadership and Business Innovation (ICELBI 2022)

Author

Listed:
  • Rania Rahma Febrianti

    (Universitas Trisakti, Department of Management, Faculty of Economics and Business)

  • Wulan Sari

    (Universitas Trisakti, Department of Management, Faculty of Economics and Business)

  • Bahtiar Usman

    (Universitas Trisakti, Department of Management, Faculty of Economics and Business)

Abstract

This study investigates the influence of Shariah compliance status, firm size, profitability, net working capital, leverage, operating cash flow, and capital expenditure on cash holding. Using a sample of 68 firms in non-cyclical consumer companies listed on the Indonesia Stock from 2017 to 2021. This paper applied panel data regression to estimate the results. The results show that shariah compliance status, profitability, net working capital, leverage, operating cash flow, and capital expenditure have a significant effect on firms’ cash holding decisions, and firm size does not have a significant impact on the level of cash holdings. This study contributes to the literature on the factors determining corporate cash holdings. The findings may be useful for regulators, investors, and financial managers.

Suggested Citation

  • Rania Rahma Febrianti & Wulan Sari & Bahtiar Usman, 2023. "Shariah Compliance and Corporate Cash Holdings," Advances in Economics, Business and Management Research, in: Donard Games & Maruf (ed.), Proceedings of the International Conference on Entrepreneurship, Leadership and Business Innovation (ICELBI 2022), pages 710-719, Springer.
    • Handle: RePEc:spr:advbcp:978-94-6463-350-4_70
    DOI: 10.2991/978-94-6463-350-4_70
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