Every corporate need cash. Corporate cash holdings always involve a trade-off between benefits and costs. In this This study has some specificity. First, this research analyse determinant of cash holding in Indonesan. The Second this research to identify speed of adjustment to the targeted cash holding of Indonesian firms. The third to identify speed of adjustment to the targeted cash holding of Indonesian firms before and after economic crisis. This research use panel data of Indonesian non-financial listed firms in Indonesian Stock Exchange during the period 2000-2015. Panel regression analysis has been conducted to determine the major factors affecting cash holdings, these variable are Growth, Firm Size Volatility Cash Flow, Leverage, Profitability, Liquid assets as a cash substitute, Dividend, and Asset tangibility.