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BUSINESS GROUP, LEVERAGE AND LIQUIDITY
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Wisnu Untoro 
Abstract
It could be argued that firms belong to large business group usually have an easier access to financing sometimes with a cheaper cost. Therefore, in this paper, I empirically investigate the impact of being affiliated firms with business group on firm leverage and liquidity. To do so, I study Indonesian non-financial firms in a panel data over the period 2012-2014. Regression models are estimated using OLS. The empirical results show that there are negative relationship between affiliation with business group and leverage. In addition, being affiliated is also associated with higher liquidity.
Keywords: Business Group, Leverage, Access to Financing, Liquidity, Indonesia
How to cite this paper: Untoro, W. (2016). Business group, leverage and liquidity. Corporate Ownership & Control, 14(1-4), 640-643. https://doi.org/10.22495/cocv14i1c4art10
