Penelitian ini bertujuan untuk menguji pengaruh Investment Opportunity Set, Cash Conversion Cycle, Growth Opportunity, Net Working Capital, dan Firm Size terhadap Cash Holding pada perusahaan properti dan real estate yang terdaftar di Bursa Efek Indonesia periode 2019-2023. Metode penelitian yang digunakan adalah deskriptif dan verifikatif dengan populasi 92 perusahaan sektor properti dan real estate periode 2019-2023. Sampel diambil dengan menggunakan teknik purposive sampling sebanyak 39 perusahaan selama 5 tahun, menghasilkan 195 data observasi. Data dikumpulkan melalui observasi non-partisipan dan dianalisis menggunakan regresi logistik. Hasil penelitian menunjukkan bahwa Growth Opportunity berpengaruh signifikan negatif terhadap Cash Holding, sementara Net Working Capital tidak berpengaruh signifikan. Variabel lainnya, yaitu Investment Opportunity Set, Cash Conversion Cycle, dan Firm Size, berpengaruh signifikan positif terhadap Cash Holding pada perusahaan properti dan real estate selama periode 2019-2023.
Kata Kunci : Cash Holding, Investment Opportunity Set, Cash Conversion Cycle, Growth Opportunity, Net Working Capital, Firm Size.

This study aims to examine the effect of Investment Opportunity Set, Cash Conversion Cycle, Growth Opportunity, Net Waorking Capital, and Firm Size on Cash Holding in properti and real estate companies listed on the Indonesia Stock Exchange during the 2019-2023 period. The research method used is descriptive and verificative with a population of 92 properti and real estate companies from 2019 to 2023. The sample was selected using purposive sampling, consisting of 39 companies over 5 years, resulting in 195 observations. Data were collected through non-participant observation and analyzed using logistic regression. The results show that Growth Opportunity has a significant negative effect on Cash Holding, while Net Working Capital has no significant effect. Other variables, namely Investment Opportunity Set, Cash Conversion Cycle, and Firm Size, have significant positive effects on Cash Holding in properti and real estate companies on 2019 to 2023 period.
Keywords : Cash Holding, Investment Opportunity Set, Cash Conversion Cycle, Growth Opportunity, Net Working Capital, Firm Size.