Volatilitas Arus Kas terhadap Kredit Perdagangan dengan Ukuran Perusahaan sebagai Variabel Moderasi

Rahmat Setiawan; Rr. Alvita Aulia Nareswari

doi:10.33557/mbia.v22i3.2489

Rahmat Setiawan Universitas Airlangga
Rr. Alvita Aulia Nareswari Universitas Airlangga

DOI: https://doi.org/10.33557/mbia.v22i3.2489

Keywords: Trade Credit, Cash Flow Volatility, Firm Size

Abstract

This study aims to determine the effect of cash flow volatility on trade credit and whether firm size moderates the influence of cash flow volatility on trade credit. This study has a 129 sample with 589 observation manufacturing companies in Indonesia listed on the Indonesia Stock Exchange (IDX) in the 2016-2020 period. The sampling method used is purposive sampling, and the analytical method used is Multiple Linear Regression Analysis and Moderated Regression Analysis (MRA). The results of this study indicate that cash flow volatility has a significant negative effect on trade credit, and firm size significantly weakened the influence of cash flow volatility on trade credit. The control variable in this study, leverage, does not affect trade credit; sales growth has a positive effect on trade credit, and days sales in inventory have a negative effect on trade credit.

Keywords: Trade Credit, Cash Flow Volatility, Firm Size

Abstrak

Penelitian ini bertujuan untuk mengetahui pengaruh volatilitas arus kas terhadap kredit perdagangan dan apakah ukuran perusahaan memoderasi pengaruh volatilitas arus kas terhadap kredit perdagangan. Penelitian ini menggunakan 129 sampel dengan 589 observasi perusahaan manufaktur di Indonesia yang terdaftar di Bursa Efek Indonesia (BEI) periode 2016-2020. Pemilihan sampel menggunakan metode purposive sampling. Metode analisis yang digunakan adalah analisis regresi linear berganda dan regresi moderasi. Hasil penelitian menunjukkan volatilitas arus kas berpengaruh negatif signifikan terhadap kredit perdagangan dan ukuran perusahaan secara signifikan memperlemah pengaruh volatilitas arus kas terhadap kredit perdagangan. Variabel kontrol pada penelitian ini yaitu leverage tidak berpengaruh signifikan terhadap kredit perdagangan, sales growth berpengaruh positif terhadap kredit perdagangan, dan days sales in inventory berpengaruh negatif terhadap kredit perdagangan.

Kata kunci: Kredit Perdagangan, Volatilitas Arus Kas, Ukuran Perusahaan

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