PENGARUH CASH FLOW DAN DEBT TERHADAP ORGANIZATIONAL AGILITY

The purpose of this study is to examine the impact of cash flow, debt, and profitability on agility in public companies in Indonesia. Agility is also measured as the percentage of R&D expenses, and training and education costs relative to revenue. The Dynamic Capabilities Theory emphasizes the need for organizations to quickly adapt and effectively respond to environmental changes. Based on secondary data collected from the annual reports of 21 companies from 2021 to 2023, using multiple linear regression, the results show that cash flow has a positive and significant effect on organizational agility, while leverage has the lowest significant negative impact on agility. Surprisingly, profitability even has a strong negative effect on agility, contrary to the researchers' expectations. These findings also support the idea that internal financial stability, such as cash flow management and debt structure, is crucial for mobilizing agility. This study highlights the importance of balancing financial performance and long-term investment in human resource development and innovation to build adaptive and competitive organizations.