DOI: 10.5176/2251-1997_AF14.03
Authors: Rina Adi Kristianti
Abstract:
This research attempts to investigate the factors that influence the level of liquidity of financially constrained firms, among others cash flow from operating, investing and financing activities, capital expenditures, short term debt, net working capital and rights issue. This research uses population of food and beverages companies during periods of 2002 – 2011 using the purposive sampling technique. The results of this research are cash flow from operating, investing and financing activities, capital expenditures and rights issue have influence on cash holdings of financially constrained firms. Cash flow from financing activities, short term debt and net working capital have influence on cash holdings of financially constrained firms with high investment opportunities category. Cash flow from operating and financing activities, capital expenditures and rights issue have influence on cash holdings of financially constrained firms with low investment opportunities category.
Keywords: cash holdings, cash flow, capital expenditures, short term debt, net working capital, rights issue
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