JAF- Journal of Accounting and Finance
Vol 3 No 2 (2019): JAF- Journal of Accounting and Finance

PENGARUH EXCESS CASH DAN INSUFFICIENT CASH TERHADAP KINERJA PERUSAHAAN DAN REAKSI PASAR (STUDI PADA PERUSAHAAN YANG TERDAFTAR DI BEI TAHUN 2010-2013)

Merri Dwi Nurrani (Unknown)
Evita Puspitasari (Unknown)
Rolland E. Fanggidae (Unknown)



Article Info

Publish Date
21 Oct 2019

Abstract

The objects of this research were nonfinancial companies registered on Indonesian Stock Exchange with samples of 79 companies on 2010-2013 (including time lag). Data was analyzed usingPooled Least Square regression with Eviews software as the tool. Using 5% significancy level, this research implied that (1) excess cash had positive significant influence on firm performance, (2) insufficient cash had positive but no significant influence on firm performance, (3) excess cash had negative but no significant influence on market reaction, and (4) insufficient cash had negative significant influence on market reaction. These results implied that the market responded to insufficient cash more than excess cash in the companies and firm performance would be increasing because of excess cash due to the decrease of external financing cost.

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Journal Info

Abbrev

jaf

Publisher

Subject

Economics, Econometrics & Finance

Description

JAF-Journal of Accounting and Finance publishes papers in issues related to accounting and finance, including: Accounting and Financial Information, Accounting Information Systems, Auditing, Behavioral financial and accounting research, Corporate finance, Cost Accounting, Ethical Issues in ...