Determinants of Cash Holding of Shariah and Non-Shariah-Compliant Firms at Indonesia Stock Exchange

The purpose of this study is to analyze what factors determine the cash holding Shariah and non-Shariah-compliant firms manufacturing sector on Indonesia Stock Exchange with variables leverage, profitability, capital expenditure, net working capital, size, dividend payment, growth opportunity, operation flow, flow volatility as determinant holding, well firm's age control variable. This uses secondary data from financial statements manufacturers in 2016-2020. To collect data, a purposive sampling method obtained 41 (31 Shariah-compliant 11 firms). Data analysis use multiple regression Eviews10 program. result shows that volatility, have significant relationship firms. For firms, relevant determinants are age. These findings could be consideration for investors optimize gain profits avoid distress.