PENGARUH FAKTOR PENENTU SPESIFIK PERUSAHAAN TERHADAP FLEKSIBILITAS KEUANGAN PERUSHAAN CONSUMER CYCLICAL YANG TERDAFTAR DI BEI
DOI:
https://doi.org/10.35794/myr9zx42Abstract
Abstract: This study aims to analyze the effect of firm-specific determinants on Corporate Financial Flexibility (CFF) of Consumer Cyclicals companies listed on the Indonesia Stock Exchange (IDX) during the 2020–2024 period. The firm-specific factors examined in this study include profitability, tangibility, cash holdings, capital structure, and retained earnings, with firm size included as a control variable. The research population comprises 80 companies, from which a purposive sampling technique yielded a final sample of 69 companies, resulting in 345 total observations over the 5-year period. The panel data analysis method applied is the Random Effect Model (REM), processed using EViews 12 software. The empirical results demonstrate that cash holdings have a positive and significant effect on Corporate Financial Flexibility. Conversely, profitability, tangibility, capital structure, retained earnings, and firm size do not have any significant effect on Corporate Financial Flexibility within the Consumer Cyclicals sector in Indonesia. Future research is suggested to extend the observation period, expand the industry sectors, and incorporate other relevant variables not yet accommodated in this model.
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