[ABSTRAKTujuan dari penelitian ini adalah untuk menguji kebijakan cash holding padaperusahaan yang dikelompokan dalam financial constraints dan not financialconstraint pada sektor industri manufaktur tahun 2001-2010. Metode yangdigunakan dalam penelitian ini dengan analisis diskriminan. Hasil analisisdiskriminan menunjukan bahwa kelompok financial constraints dan not financialconstraint dijelaskan oleh variabel diskriminan yaitu leverage, capitalexpenditure, operating cash flow, market to book ratio, size dan number blockholder.

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ABSTRACTThe purpose of this study was to examine the company's policy of holding cashare classified in the financial constraints and not financial constraints on themanufacturing sector in 2001-2010. The method used in this study withdiscriminant analysis. Discriminant analysis results showed that the groupfinancial constraints and financial constraints are not explained by thediscriminant variable leverage, capital expenditure, operating cash flow, market tobook ratio, size and number block holder.;The purpose of this study was to examine the company's policy of holding cashare classified in the financial constraints and not financial constraints on themanufacturing sector in 2001-2010. The method used in this study withdiscriminant analysis. Discriminant analysis results showed that the groupfinancial constraints and financial constraints are not explained by thediscriminant variable leverage, capital expenditure, operating cash flow, market tobook ratio, size and number block holder.;The purpose of this study was to examine the company's policy of holding cashare classified in the financial constraints and not financial constraints on themanufacturing sector in 2001-2010. The method used in this study withdiscriminant analysis. Discriminant analysis results showed that the groupfinancial constraints and financial constraints are not explained by thediscriminant variable leverage, capital expenditure, operating cash flow, market tobook ratio, size and number block holder., The purpose of this study was to examine the company's policy of holding cashare classified in the financial constraints and not financial constraints on themanufacturing sector in 2001-2010. The method used in this study withdiscriminant analysis. Discriminant analysis results showed that the groupfinancial constraints and financial constraints are not explained by thediscriminant variable leverage, capital expenditure, operating cash flow, market tobook ratio, size and number block holder.]