Jurnal Akuntansi/Volume 27, No. 02, May 2023: 281-298 DOI: http://dx.doi.org/10.24912/ja.v27i2.1356 281 Factors Influencing Cash Holding In Property, Real Estate And Construction Companies Nurainun Bangun 1* , Khairina Natsir 2 , and Ngadiman Ngadiman 3 1,2,3 Faculty of Economic and Business, Tarumanagara University, Jakarta, Indonesia Email Address: nurainunb@fe.untar.ac.id*, khairinan@fe.untar.ac.id, ngadiman@fe.untar.ac.id *Corresponding author Submitted 17-02-2023 Reviewed 28-03-2023 Revised 29-03-2023 Accepted 30-03-2023 Published 02-05-2023 Abstract: This study aims to “examine academically the relationship between operating cash flow, growth opportunity, and financial distress on the company's cash holding. 43 samples were taken from 79 of property, real estate and construction sector companies on the IDX period 2018 to 2021. Data analysis began with the multicollinearity and heteroscedasticity test. After that, a hypothesis test was carried out which consisted of a t-test and an R 2 test. The analysis was performed using Multiple Regression Model. The findings from this study are growth opportunity and operating cash flow have a positive effect on the company's cash holding, while financial distress has a negative effect on cash holding. The implication of this finding is that companies need to control the amount of cash holding so that the amount of cash supply in the company can be maintained at an optimal point so that the company can avoid bankruptcy.” Keywords: Cash Holding; Financial Distressed; Operating Cash Flow; Growth Opportunity. Abstrak: Penelitian ini bermaksud mengkaji secara akademis keterkaitan antara variabel operating cash flow, growth opportunity, dan financial distress terhadap variabel cash holding perusahaan. Sampel diambil sebanyak 43 dari 79 korporasi pada kelompok properti, real estat dan konstruksi di BEI rentang waktu 2018 hingga 2021. Analisis data dimulai dengan uji multikolinearitas dan heteroskedastisitas. Setelah itu dilakukan uji hipotesis yang meliputi uji parsial t dan uji R 2 . Analisis dilakukan dengan menggunakan Model Regresi Berganda. Temuan dari studi ini yaitu growth opportunity dan operating cash flow mempunyai pengaruh positif terhadap cash holding perusahaan, sedangkan financial distress berpengaruh negatif terhadap cash holding. Konsekuensi dari temuan ini yaitu perusahaan perlu mengendalikan jumlah cash holding agar jumlah cash supply di perusahaan dapat dipertahankan pada titik optimal sehingga perusahaan terhindar dari kebangkrutan. Kata Kunci: Cash Holding; Operating Cash Flow; Financial Distressed; Growth Opportunity. INTRODUCTION The existence of investment opportunities in companies belonging to the property, real estate and construction sectors which are increasingly intensive in Indonesia is very interesting to study, especially with regard to Cash Holding in this group of companies. This is because currently activity in the property, real estate and construction sectors has started to flourish, after experiencing a slowdown in activity during the pandemic. Development in the property, real estate and construction sectors does not only apply to Jakarta and the island of Java, but also extends to regions throughout Indonesia. The construction of toll roads throughout Indonesia is thousands of kilometers long. In Kalimantan, infrastructure development is also being carried out on a large scale to prepare for a new capital city. Construction of housing and other properties seems to never stop because demand is also increasing. The impact of this development is that land prices continue to rise. The condition of rising land prices occurred in various regions in Indonesia such as Bandung,