Cash Flow Components and Their Impact on Liquidity: Evidence from Technology Startups on the Indonesia Stock Exchange
Keywords:
Operational Cash Flow, Investment Cash Flow, Funding Cash Flow, Liquidity, Startup Company Sector TechnologyAbstract
Technology startups in Indonesia are growing rapidly and playing a vital role in supporting the growth of the digital economy. However, complex financial dynamics mean many startups face liquidity issues, making it difficult to maintain operational continuity. Cash flow statements are a crucial tool for assessing financial health, reflecting a company's ability to meet short-term obligations while supporting business sustainability.This study aims to analyze the effect of operational cash flow, investment cash flow, and financing cash flow on company liquidity, with a focus on startup companies in the technology sector listed on the Indonesia Stock Exchange (IDX) during the period 2020 to 2024. The research design used is a causality research design, which aims to identify the causal relationship between the variables studied. The sample selection method uses purposive sampling and 12 companies were obtained. The data collection method uses the company's annual financial report obtained from the Indonesia Stock Exchange website. The data analysis method uses panel data regression analysis processed with EViews 13. The research results show that investment cash flow has a positive and significant effect on company liquidity. Meanwhile, operational cash flow and financing cash flow have no effect on company liquidity.
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