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2023

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Full-Text Articles in Business

Workplace Culture Must Emphasise Mutual Respect [In Chinese], Siow-Heng Ong Jul 2023

Workplace Culture Must Emphasise Mutual Respect [In Chinese], Siow-Heng Ong

Research Collection Lee Kong Chian School Of Business

In a commentary, SMU Professor of Communication Management (Education) Ong Siow Heng discussed the importance of having a respectful culture in the workplace. He opined that one way to appreciate employees is to provide equitable pay and career advancement opportunities for staff, so that workers will know that their employer respects their contribution. Even though more forms of disrespect for workers are being addressed by law, Prof Ong opined that improving respect for the workers’ dignity is best managed by those in workplace leadership even before relevant laws are passed, especially in areas that cannot be covered by law. He …


Investing In California’S Transportation Future: 2022 Public Opinion On Critical Needs, Asha Weinstein Agrawal, Hilary Nixon Jul 2023

Investing In California’S Transportation Future: 2022 Public Opinion On Critical Needs, Asha Weinstein Agrawal, Hilary Nixon

Mineta Transportation Institute

This study surveyed 3,821 adults living in California about their general travel behaviors and resources, use of ride-hailing, performance ratings for the transportation system and agencies responsible for transportation, transportation system improvement priorities, and preference for how transportation funds are allocated. Key findings include the following: • Californians are multi-modal: Although driving was the most common mode, respondents reported that in the previous 30 days 66% had made a walk trip, 28% had used ridehailing, 25% had used public transit, and 22% had bicycled. • Although many respondents had at least once substituted ride-hailing for transit, walking, or bicycling and …


To Cancel Debt Or Not To Cancel Debt: Evaluation Of Debt Cancellation Or Provide A Tax Credit, Jose Jay Vega, Jan Smolarski, Nikki Shoemaker, Kelly Noe Jul 2023

To Cancel Debt Or Not To Cancel Debt: Evaluation Of Debt Cancellation Or Provide A Tax Credit, Jose Jay Vega, Jan Smolarski, Nikki Shoemaker, Kelly Noe

School of Accountancy Faculty Publications

U.S. students are facing unprecedented student loan debt levels, roughly $1.75 trillion. The Biden Administration is proposing a debt relief program that will cancel student loan debt up to $20,000 for Pell Granted individuals. However, the current plan has faced substantial legal challenges and political pressure, and as suggested, it could increase the current inflation crisis. However, the size of the inflation effect is subject to debate. On the lower end, student debt relief may add only about 0.2% points to annual inflation. Proponents have also circulated linking student loan repayment to income levels. We propose an alternative approach to …


Strategic Use Of Volume Of Financial Items In 10-K Reports, C. S. A. Cheng, Jiajia Fu, Wenli Huang, Jiao Jing Jul 2023

Strategic Use Of Volume Of Financial Items In 10-K Reports, C. S. A. Cheng, Jiajia Fu, Wenli Huang, Jiao Jing

School of Accountancy Faculty Publications

We investigate whether firms limit the volume of financial items in annual reports (including the financial statements and footnotes) to obfuscate poor future firm performance, and how investors react to this reduced volume. We estimate abnormal volume to capture managers’ discretion over reporting in the 10-K and find that abnormally low volume predicts poor future earnings. This relation is more pronounced in firms where the market has difficulty in detecting managerial intervention in the disclosure process. We also find that abnormally low volume predicts negative future returns, suggesting that managers benefit from disclosing fewer financial items by delaying the incorporation …


Effective Leader Development Within A Church-Planting Organization For A Changing And Chaotic World, Jeremy Davis Jul 2023

Effective Leader Development Within A Church-Planting Organization For A Changing And Chaotic World, Jeremy Davis

Electronic Theses and Dissertations

A challenge in cross-cultural church planting is developing leaders. Cross-cultural church-planting organizations like Latin American Mission (LAM; pseudonym) that lack a leadership development strategy struggle to form lasting leaders, sending missionaries with Biblical training but not leader development training. Additionally, developing leaders in a volatile, uncertain, complex, and ambiguous (VUCA) environment creates specific challenges that missionaries must address. The purpose of this qualitative, Delphi method study was to investigate the leadership development perceptions and experiences among existing LAM missionaries in the regions of Latin America (Colombia, Cuba, Mexico City, Peru, Brazil, and Ecuador) to provide suggestions for improving effective leadership …


Managing Risks At Early-Stage Investment - An Information Asymmetry And Signaling Perspective, Vineet Malhotra Jul 2023

Managing Risks At Early-Stage Investment - An Information Asymmetry And Signaling Perspective, Vineet Malhotra

Theses and Dissertations

Venture Capital (VC) funding for entrepreneurs has traditionally been examined independently without considering risk differentials or idiosyncratic information gaps at various funding stages. As a result, these studies carry either a survival bias (only successful ventures), confirmation bias (interpreting information partial to decisions), or an assumption of information homogeneity across the funding stages. Without tangible and performance-related information at the early funding stage (seed), VCs rely on indicators or signals that create unimpeachable logic for investment. The paper explores VCs’ criteria to manage investment risks through an information asymmetry and signaling perspective and leveraging phenomenological research. The study was conducted …


An Exploratory Study Of The Impact Of Quality Management Practices On Data Integrity Fda-483 Observations Received By Pharmaceutical Manufacturers In Florida, Sarah Mary Christie Jul 2023

An Exploratory Study Of The Impact Of Quality Management Practices On Data Integrity Fda-483 Observations Received By Pharmaceutical Manufacturers In Florida, Sarah Mary Christie

Theses and Dissertations

Quality management systems and regulatory compliance have been studied in academic and practitioner settings (Andersson et al., 2006; Beattie & Sohal, 1999; Berrouiguet, 2013; McDowall & Ratcliff, 2016; Unger, 2019; Wechsler, 2019). While research has been performed on both topics independently, there has not been a definitive analysis of the relationship between quality management practices and regulatory compliance, especially in an FDA-regulated manufacturing environment. This research study attempts to link quality management practices and regulatory compliance and provides valuable insights for working managers on the practitioner level.


Human Resource Management (Hrm) Practices And Female Mechanical Engineer Turnover Intentions: The Mediating Role Of Social Capital, Tyrone Walston Gorrick Jul 2023

Human Resource Management (Hrm) Practices And Female Mechanical Engineer Turnover Intentions: The Mediating Role Of Social Capital, Tyrone Walston Gorrick

Theses and Dissertations

The objective of the present study was to investigate the effect of human resource management (HRM) practices on female mechanical engineer turnover intentions while examining the mediating role of social capital. This study drew on insights from the HRM, social capital, and turnover theories and related models in the literature to formulate a set of hypothesized relationships and predictions that HRM practices positively influence social capital and social capital negatively affects female mechanical engineers' turnover intention. Turnover remains a challenging issue for all organizations, driving the need for measures that reduce employee quit intentions and, ultimately, turnover. After all, the …


Stages Of Entrepreneurial Success: A Qualitative Study Of Post-Soviet Immigrant Entrepreneurs In The United States, Nathan Thor Rozea Jul 2023

Stages Of Entrepreneurial Success: A Qualitative Study Of Post-Soviet Immigrant Entrepreneurs In The United States, Nathan Thor Rozea

Theses and Dissertations

The rate of immigrant entrepreneurship continues to grow, affecting economic development in many host country communities. Immigrant entrepreneurs are found in past research studies to be outpacing host natives in entrepreneurial activities, offering additional economic, social, and cultural benefits. This study examined a phenomenon at the individual immigrant entrepreneur level in the United States to provide increased insight into understanding the phenomena of surges in immigrant entrepreneurial startups for continued research on immigrant entrepreneurship to effect related policy formation and decisions. This research examined a cohort of eighteen post-Soviet immigrant entrepreneurs from 11 different Eastern European countries with successful businesses …


Concern Or Control?: Gender Stereotyping And Hospitality Leaders, Bendegul Okumus, Wei Xiong, Shiyun Chen, Fang Fan Jun 2023

Concern Or Control?: Gender Stereotyping And Hospitality Leaders, Bendegul Okumus, Wei Xiong, Shiyun Chen, Fang Fan

Rosen Research Review

Although most managers in the global hospitality industry are still male, an increasing number of women are taking on leadership roles. But how exactly do employees perceive masculine and feminine leadership styles? New research led by UCF Rosen College of Hospitality Management's Associate Professor Bendegul Okumus and the research team she works with looks at gender stereotypes and finds that the most successful managers, in the eyes of their staff, have a management style that combines both masculine and feminine leadership traits.


Mind The Service Gap: Lgbt+ Customers' Hospitality Experience, Heejung (Cheyenne) Ro Jun 2023

Mind The Service Gap: Lgbt+ Customers' Hospitality Experience, Heejung (Cheyenne) Ro

Rosen Research Review

Hospitality managers could be missing out by not paying enough attention to lesbian, gay, bisexual, and transgender (LBGT+) guests. New research by Associate Professor Heejung Ro, UCF Rosen College of Hospitality Management, looks at this growing and valuable customer segment, and studies how sexual minority guests perceive they are welcomed by hospitality staff. In one of the first studies of its kind, Dr. Ro finds that delivering the right service experience is about more than just flying the rainbow flag.


Unravelling The Tourism–Poverty Nexus, Jorge Ridderstaat, Xiaoxiao Fu, Bingna Lin Jun 2023

Unravelling The Tourism–Poverty Nexus, Jorge Ridderstaat, Xiaoxiao Fu, Bingna Lin

Rosen Research Review

Literature on the links between tourism development and poverty alleviation is surprisingly fragmented. A new model, the Tourism-Poverty Interdependence Diamond (TPID), from Dr. Jorge Ridderstaat and Dr. Xiaoxiao Fu, UCF Rosen College of Hospitality Management, offers a tool to unravel the complexities of this relationship. Using Honduras as a case study, this new approach clearly shows that tourism development can impact poverty, and highlights that poverty can also impact tourism development, with the links ranging from direct to indirect.


Off-Course: Understanding The Popularity Of Alternative Golf Experiences, Juhee Kang, David Kwun, Jeeyeon (Jeannie) Hahn Jun 2023

Off-Course: Understanding The Popularity Of Alternative Golf Experiences, Juhee Kang, David Kwun, Jeeyeon (Jeannie) Hahn

Rosen Research Review

Alternative golf is a nascent leisure product category that is growing in popularity. However, little is known as to why, its potential impact on traditional golf, and whether it will encourage more and diverse people to play traditional golf. Drs. Juhee Kang, David Kwun, and Jeeyeon Jeannie Hahm at UCF Rosen College of Hospitality Management investigated the relationship between consumers' value perceptions, satisfaction, and involvement at golf entertainment venues, and whether those influenced their desire to return or refer, and, ultimately, spread their wings onto an actual golf course.


Saba: 'The Unspoiled Queen', Kelly Semrad, Bruce Zagers Jun 2023

Saba: 'The Unspoiled Queen', Kelly Semrad, Bruce Zagers

Rosen Research Review

Bruce Zagers became Commissioner of Tourism, Public Entity, Saba in 2017. Dr. Kelly Semrad interviews him about his role, and the development of a new tourism master plan for the island.


Beyond A 'Like': Building Parasocial Relationships With Baby Boomers On Facebook, Yunying (Susan) Zhong, Valeriya Shapoval, James Busser Jun 2023

Beyond A 'Like': Building Parasocial Relationships With Baby Boomers On Facebook, Yunying (Susan) Zhong, Valeriya Shapoval, James Busser

Rosen Research Review

Baby boomers are a crucial cohort for hospitality marketing as they have more money to spend and more time on their hands than younger cohorts. However, reaching them on social media is harder. There is one social media platform popular with baby boomers: Facebook. Dr. YunYing Zhong and Dr. Valeriya Shapoval at UCF Rosen College of Hospitality Management, together with their collaborator, have combined their different areas of expertise to analyze the effectiveness of social media marketing directed at baby boomers from an unusual angle: the illusionary and imaginary relationships we build with fictional characters.


Influences On Destination Loyalty, Asli D.A. Tasci, Abdullah Uslu, Dimitrios Stylidis, Kyle Maurice Woosnam Jun 2023

Influences On Destination Loyalty, Asli D.A. Tasci, Abdullah Uslu, Dimitrios Stylidis, Kyle Maurice Woosnam

Rosen Research Review

Dr. Asli D.A. Tasci from UCF Rosen College of Hospitality Management and fellow researchers have undertaken research in the popular tourist destination of Antalya, Turkey to investigate destination loyalty. The study explores whether place-oriented or people-oriented factors have a larger influence on tourists' likelihood to revisit the same destinations, while also considering the differences between domestic and international tourists. The findings from this research will support tourism managers' understanding of how to drive repeat visits in a market with overwhelming competition.


Theme Park Knowledge Hub Of The Future, Carissa Baker Jun 2023

Theme Park Knowledge Hub Of The Future, Carissa Baker

Rosen Research Review

The global attractions industry has grown in size and innovation in the last few decades. Encompassing theme parks and waterparks as well as cultural and natural attractions, this segment has diverse career opportunities and constant potential for growth in mature and emerging markets. Theme parks alone garnered a billion visitors in 2019. Post-pandemic, the industry bounced back quicker than expected, with most operators seeing increased attendance and revenue. The attractions industry continues to develop new concepts which provide amazing experiences for guests around the world. However, retirement during the pandemic, coupled with the industry's rapid expansion, created a greater need …


Towards More Authentic Heritage Destination Experiences, Xiaoxiao Fu, Xiaoli Yi, Vera Shanshan Lin, Honggen Xiao Jun 2023

Towards More Authentic Heritage Destination Experiences, Xiaoxiao Fu, Xiaoli Yi, Vera Shanshan Lin, Honggen Xiao

Rosen Research Review

Heritage destinations have a significant responsibility to visitors. In countries like China, where heritage plays a significant role in a person's identity, such destinations offer visitors an opportunity to develop a deeper sense of self. For this reason, they need to be authentic, but so do the visitors. UCF Rosen College of Hospitality Management researcher Dr. Xiaoxiao Fu joined a team of experts based in China to identify how the perceived authenticity of two of China's most revered heritage sites affects visitors' personal sense of authenticity, their wellbeing, and how memorable they found their visits.


Providing A Clear Foundation For Smart Destinations, Youcheng Wang, Alan Fyall, Ekaterina Sorokina, Peter Lugosi Jun 2023

Providing A Clear Foundation For Smart Destinations, Youcheng Wang, Alan Fyall, Ekaterina Sorokina, Peter Lugosi

Rosen Research Review

Smart destinations are a nascent and growing category in destination marketing but suffer from a lack of clarity. What is a 'smart destination'? UCF Rosen College of Hospitality Management's Dr. Youcheng Wang and Dr. Alan Fyall led an international team of hospitality management specialists tasked with providing a clear foundation for smart destination researchers and practitioners. Their study, published in the Journal of Destination Marketing and Management, provides significant insight and stokes the fire beneath destination marketing organizations.


Just Looking: Tourist Gaze And The Theme Park Experience, Wei Wei, Yanyan Zheng, Nathaniel Line, Lu Zhang Jun 2023

Just Looking: Tourist Gaze And The Theme Park Experience, Wei Wei, Yanyan Zheng, Nathaniel Line, Lu Zhang

Rosen Research Review

What makes a memorable theme park experience? New research led by UCF Rosen College of Hospitality Management's Assistant Professor Wei Wei looks at how visitor experience is influenced by the 'tourist gaze'—the consumption of visual experiences, as well as other services, in a tourism destination. With important implications for theme park operators and managers, the study focuses on visitors' visual interactions with fellow visitors and finds they have a significant impact on visitors' emotions and the quality of their overall experience.


Theme Park Visitors Prefer Human-Like Robots In Customer Service Interactions, Ady Milman, Asli D.A. Tasci Jun 2023

Theme Park Visitors Prefer Human-Like Robots In Customer Service Interactions, Ady Milman, Asli D.A. Tasci

Rosen Research Review

Service robots are becoming increasingly popular in many industries and social settings, including education, childcare, elderly therapy centers, and even theme parks. Tourism and hospitality industries are adopting robots enthusiastically and are being closely studied to observe guest engagement and reaction to robotic services. Service robots are becoming increasingly popular in many industries and social settings, including education, childcare, elderly therapy centers, and even theme parks. Tourism and hospitality industries are adopting robots enthusiastically and are being closely studied to observe guest engagement and reaction to robotic services. UCF Rosen College of Hospitality Management researchers, Dr. Ady Milman and Dr. …


Virtual Reality Images As A Tool In Hotel Promotions: Is It Effective And Worth Investment?, Lisa Slevitch, Tilanka Chandrasekera, Luis Mejia Puig Jun 2023

Virtual Reality Images As A Tool In Hotel Promotions: Is It Effective And Worth Investment?, Lisa Slevitch, Tilanka Chandrasekera, Luis Mejia Puig

ICHRIE Research Reports

This report examines how traditional photos compare to two different types of virtual reality (VR) images (static and 360°) when used as promotional tools for hotels. An experimental study by Slevitch et al.(2022), which utilized multiple types of measures, served as the foundation for the recommendations. The results showed that static VR images performed the same way as traditional photos, however the 360° VR images had a more positive impact on participants’ emotional responses and were more engaging than other images. This suggests that 360° VR images are better for hotel promotions, especially when initial impressions, such as interest and …


Level Up Eco-Friendly Hotel Stay: Guest Power Up And Save Energy With Gamification, Aili Wu, Juhee Kang, Wei Wei, David J. Kwun Jun 2023

Level Up Eco-Friendly Hotel Stay: Guest Power Up And Save Energy With Gamification, Aili Wu, Juhee Kang, Wei Wei, David J. Kwun

ICHRIE Research Reports

Executive Summary

Hotel businesses endeavor to achieve successful green practices for long-lasting business success. The key issue is to promote consumers’ willingness to participate in such practices. Despite increased environmental awareness among today’s consumers, a relatively large percentage of consumers hesitate to actively engage with green practices because they are unwilling to sacrifice their comforts and convenience for their paid experience. This report introduces a gamification approach to hotels’ green practices through an investigation of how game components motivate guests’ energy-saving participation. This report finds that the energy-saving game can improve hotel guests’ willingness to save energy and even revisit …


Localized Surface Plasmon Resonance Of Palladium Parallelepiped Nanoparticles, Salem Marhaba, Nourhan El Kawni Jun 2023

Localized Surface Plasmon Resonance Of Palladium Parallelepiped Nanoparticles, Salem Marhaba, Nourhan El Kawni

BAU Journal - Science and Technology

Localized surface plasmon resonance (LSPR) of palladium parallelepiped nanoparticle have been investigated using Finite Element Method (FEM) in the frame of COMSOL Multiphysics Software. Spectral characteristics (magnitude, peak position and width) of LSPR of a single Pd nanoparticle having the shape of a parallelepiped are investigated in two different cases. The first case studied the size effect on LSPR by fixing the height with varying both length and width. However, the second case studied the shape effect on the LSPR by rounding the corners of the parallelepiped for different radii while fixing its dimensions. The extinction cross-section spectra of these …


Advancing Health And Well-Being In Hospitality: Employers Respond To New Workforce Expectations, Deborah Popely, Leigh Uhlir Jun 2023

Advancing Health And Well-Being In Hospitality: Employers Respond To New Workforce Expectations, Deborah Popely, Leigh Uhlir

Kendall College Research

Kendall College at National Louis University conducted research between Fall 2022 and Spring 2023 on the status of health and well-being initiatives in hospitality. The research involved in-depth surveys with 27 hotels and 18 restaurants, for a total sample of 45 hospitality businesses located primarily in the Chicago region. In addition, working collaboratively with the national food service research firm, Datassential, a sample of 401 food service providers from across the U.S. was collected. The findings confirmed that poor working conditions have helped drive turnover and that current and prospective employees are seeking healthy, safe and inclusive work environments with …


Challenges, Barriers, And The Underrepresentation Of Black Women In Sustainable Global World Environment, Edo Branch, Karina Kasztelnik Jun 2023

Challenges, Barriers, And The Underrepresentation Of Black Women In Sustainable Global World Environment, Edo Branch, Karina Kasztelnik

Accounting Faculty Research

Women make up at least 50.8% of the United States population, and 46.8% are in the professional workforce per Census Quick Facts from 2016. United States Department of Labor, n.d.). Despite making up half of the United States population, women only represent 26% of managing roles in the workforce. In the 2019 study, “Women in the Workplace 2019”, McKinsey & Company found women to still lag in corporate America in areas of salary gaps, promotions due to the broken rung, glass ceilings, lack of training and development, among other gender and racial barriers. Workplace Fairness”, a broken rung is a …


العلاقة بين نظام سعر الصرف وتأثير السياسة النقدية في الاقتصاد, بسمان كامل جواد Jun 2023

العلاقة بين نظام سعر الصرف وتأثير السياسة النقدية في الاقتصاد, بسمان كامل جواد

Muthanna Journal of Administrative and Economics Sciences

تُعد السياسة النقدية من اهم ادوات الدولة للتأثير على الاقتصاد بشكل عام من خلال التأثير على المتغيرات الاقتصادية والتي على رأسها معدل الفائدة والتضخم والسيولة غير ان السياسة النقدية لأي بلد هي محكومة باطار عام وهو نوع نظام سعر الصرف المتبع في تلك الدولة اذ ان هناك عدة أنظمة لسعر الصرف تتبعها الدول كما يصنفها صندوق النقد الدولي , لذلك جاءت هذه الدراسة الموسومة بـ (العلاقة بين نظام سعر الصرف وتأثير السياسة النقدية في الاقتصاد) لتسليط الضوء على هذه الأنظمة المختلفة وأسباب اختلافها وفاعليتها من دولة الى أخرى في التأثير على المتغيرات الاقتصادية اذ تهدف الدراسة الى معرفة هل ان …


Analisis Pengaruh Risiko Kredit, Risiko Likuiditas, Serta Risiko Operasional Terhadap Kinerja Perbankan: Studi Kasus Pada Bank Umum Konvensional Yang Terdaftar Di Bursa Efek Indonesia Periode 2016-2020, Jihan Yunike, Imo Gandakusuma Jun 2023

Analisis Pengaruh Risiko Kredit, Risiko Likuiditas, Serta Risiko Operasional Terhadap Kinerja Perbankan: Studi Kasus Pada Bank Umum Konvensional Yang Terdaftar Di Bursa Efek Indonesia Periode 2016-2020, Jihan Yunike, Imo Gandakusuma

Jurnal Manajemen dan Usahawan Indonesia

Researchers conducted research on banks in Indonesia to assess the effect of credit risk, liquidity risk, and operational risk on banking financial performance. Data is obtained from the IDX website and banks from 38 conventional commercial banks that met the criteria for the 2016-2020 period. Researchers used the fixed-effect model (FEM) to analyze the results of this study.The results of this study indicate that credit and operational risks have a significant effect on the company's financial performance. On the other hand, liquidity risk has an insignificant effect on the company's financial performance. The results can be used by the company's …


Construction And Preliminary Application Of The Carbon-Based Spatial Governance Performance Evaluation System ——Taking Zhejiang Province As An Example, Lin Qu, Ganlin Xia, Cunkuan Bao Prof. Jun 2023

Construction And Preliminary Application Of The Carbon-Based Spatial Governance Performance Evaluation System ——Taking Zhejiang Province As An Example, Lin Qu, Ganlin Xia, Cunkuan Bao Prof.

CSID Journal of Infrastructure Development

Carbon is generated through human socio-economic activities, with territorial space serving as the medium for these activities. Variations in spatial governance result in differences in the scale, intensity and efficiency of social and economic activities, as well as energy and resource consumption and carbon emissions across diverse functional spaces. Consequently, spatial governance performance should be evaluated using carbon-related indicators. This study initially established a theoretical model for assessing spatial governance performance based on carbon and an evaluation method encompassing three dimensions or indices "level-progress-gap". Zhejiang Province and its 11 prefecture-level cities were selected as the research area for preliminary application …


Pengaruh Nilai Esg Dengan Kebutuhan Modal Kerja: Analisis Perusahaan Listing Indonesia Periode 2015-2020, Vani Rahmita, Eko Rizkianto, Hendro Prabowo Jun 2023

Pengaruh Nilai Esg Dengan Kebutuhan Modal Kerja: Analisis Perusahaan Listing Indonesia Periode 2015-2020, Vani Rahmita, Eko Rizkianto, Hendro Prabowo

Jurnal Manajemen dan Usahawan Indonesia

This study aims to analyze the effect of ESG score and its pillars (environmental, social, and governance score), as a proxy of sustainable companies, on working capital requirements (WCR) and cash conversion cycle (CCC) of Indonesian listing companies for the period 2015-2020. The ESG and pillar scores are obtained from the Thomson Reuters Refinitiv Eikon terminal. The research covers 29 non-financial listed companies in Indonesia in the six years with a total of 174 observations through the purposive sampling technique. This study finds that on average non-financial companies in Indonesia use a conservative working capital strategy which makes the company's …