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August 16, 2025Journal of Economics Finance and Management StudiesOpen Access

Analysis of the Influence of Working Capital Management and Cash Holding on Profitability: An Empirical Study of Nonfinancial Sector Companies in Indonesia

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Authors

DFDwinta FitriantyAAAzwardi AzwardiMMMu'izzudin Mu'izzudin

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Overview

Empirical analysis reveals cash holding significantly enhances profitability in non-financial companies, indicating strategic importance.

Key Points

  • Cash holding positively and significantly influences profitability, resulting in improved financial outcomes for firms.
  • Analysis shows net working capital does not significantly affect profitability in the non-financial sector during 2019-2023.
  • Utilizing panel data regression, the fixed effect model effectively captures the variations in profitability across the studied companies.
  • The interaction between cash holding and the COVID-19 crisis does not show a significant effect on profitability outcomes.

Cite This Study

Fitrianty et al. (2025) studied this question.

synapsesocial.com/papers/68c235fdb210217d64772cdahttps://doi.org/10.47191/jefms/v8-i8-15
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