ANALISIS PERBANDINGAN TINGKAT CASH HOLDING SEBELUM DAN SESUDAH KRISIS KEUANGAN GLOBAL 2008 (Studi Empiris pada Perusahaan Subsektor Properti dan Real Estate yang Terdaftar di Bursa Efek Indonesia Periode 2002-2014)

Penelitian ini bertujuan untuk mengetahui apakah terdapat perbedaan tingkat cash holding Perusahaan properti dan real estate pada periode sebelum dan sesudah krisis keuangan global 2008. Pengujian dilakukan menggunakan metode uji beda (paired sample t test). Kemudian dilakukan uji regresi untuk memahami bagaimana perbedaan cash holding sebelum dan sesudah krisis terjadi dengan menganalisis faktor-faktor yang mempengaruhi pembentukan cash holding sebelum dan sesudah krisis. Hasil uji beda menunjukkan bahwa tingkat cash holding Perusahaan berbeda pada periode sebelum dan sesudah krisis. Rata-rata cash holding Perusahaan meningkat sesudah krisis. Berdasarkan hasil uji t, faktor yang secara signifikan mempengaruhi tingkat cash holding pada periode sebelum krisis yaitu ukuran Perusahaan, arus kas, dan dividen. Sedangkan faktor yang secara signifikan mempengaruhi tingkat cash holding pada periode sesudah krisis yaitu ukuran Perusahaan, leverage, arus kas, dan modal kerja bersih. Berdasarkan hasil uji F, faktor pertumbuhan penjualan, ukuran Perusahaan, leverage, arus kas, modal kerja bersih, dividen, dan suku bunga secara simultan mempengaruhi cash holding Perusahaan. Kata kunci: cash holding, properti, real estate, krisis keuanganThis study aims to determine whether there are differences in the level of cash holding real estate and property company in the period before and after the global financial crisis of 2008. The tests were conducted using comparative test methods (paired sample t test). Then, regression test to understand how differences in cash holdings before and after the crisis occurred by analyzing the factors that influence the formation of holding cash before and after the crisis. Different test results showed that the level of cash holding companies differ in the period before and after the crisis. The average cash holding companies increase after crisis. 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