PENGARUH MODAL KERJA TERHADAP PROFITABILITAS STUDI PADA PERUSAHAAN MANUFAKTUR YANG TERDAFTAR DI BURSA EFEK INDONESIA

Eva Larasati, Selmita Paranoan

Abstract


ABSTRACT

Indonesia had instability economics situation which can affect to how manage an efficient working capital then capable to increase a profitability. This research is aimed to test how a working capital (which is sales growth ratio, financial debt ratio, fixed financial assets ratio, number of days accounts receivable, number of days inventories, number of days accounts payable, cash conversion cycle) can influenced a profitability of food and beverages companies. This Research is implemented to 12 Foods and Beverages company which is listed in The INDONESIA Stock Exchange from 2006-2011. Meanwhile, the evaluation of annual performance of this companies had audited from chosen public accountant. Data of financial statement as the object for this research was 5 years financial statement, from 2006 until 2011. Data of this research which has been used is secondary data with purposive sampling method. Analysis method used for this research is multi regression analysis.There was one of variable, a number of days account payable, must removed from a model based on enter removed test. The results is all independed variables can influenced to profitability simultanoues. But the only one of independend variable, number of days inventories can affect to profitability, when it tested partially.

Keyword : working capital, profitability

ABSTRAK

 

Indonesia memiliki ketidakstabilan situasi ekonomi yang dapat mempengaruhi cara mengelola efisiensi modal kerja yang mampu meningkatkan profitabilitas. Penelitian ini bertujuan untuk menguji bagaimana modal kerja (yang merupakan sales growth ratio, financial debt ratio, fixed financial assets ratio, number of days accounts receivable, number of days inventories, number of days accounts payable, cash conversion cycle) dapat dipengaruhi profitabilitaspada perusahaan makanan dan minuman.Penelitian ini dilaksanakan untuk 12 Perusahaan Makanan dan Minuman yang terdaftar di Bursa Efek Indonesia tahun 2006-2011. Evaluasi kinerja tahunan perusahaan telah diaudit dari akuntan publik yang dipilih. Obyek penelitian ini adalah Data laporan keuangan selama 5 tahun, dari 2006 sampai 2011. Data dari penelitian ini yang telah digunakan adalah data sekunder dengan metode purposive sampling. Metode analisis yang digunakan dalam penelitian ini adalah analisis regresi berganda.Salah satu variabel, number of days account payable (jumlah hari akun hutang), harus dihapus dari model yang didasarkan pada Analisis Entered/Removed. Hasil penelitian menunjukkan semua variabel Independen dapat berpengaruh terhadap profitabilitas secara simultan. Namunhanya satu variabel independen yaitunumber of days inventories(jumlah hari persediaan) dapat mempengaruhi profitabilitas, ketika diuji secara parsial.

 

Kata kunci: Modal kerja, Profitabilitas


Keywords


Modal kerja; Profitabilitas

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DOI: https://doi.org/10.18860/em.v4i1.2332

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