ANALISIS PENGARUH MANAJEMEN MODAL KERJA TERHADAP PROFITABILITAS PERUSAHAAN MANUFAKTUR SEKTOR INDUSTRI DASAR DAN KIMIA GO PUBLIC PADA BURSA EFEK INDONESIA (BEI) PERIODE TAHUN 2011 - 2014
Abstract: This research aims
to analyze the effect of working capital management on profitability ofbasic
industry and chemicals that listed in Indonesia Stock Exchange (IDX) within
2011-2014. Indicator of working capital management used in this research are
cash conversioncycle (CCC), receivable conversion period (RCP), inventory
conversion period (ICP),payable deferral period (PDP), and current ratio (CR).
On the other hand, indicator ofprofitability used in this research is net
profit margin (NPM).The sample data used in this research took from financial
statement that have been audited and published in IDX. According to sampling
technique used in this research, which is purposive sampling, there’re 25
companies that fit to certain criteria. Method of data analysis used in this
research is Multiple Regression Analysis, which previouslyperformed classical
assumption test. Hypothesis test is using F-statistic test, t-statistictest,
and determination of coefficients with significance level of 5%.The result of
this research indicates independent variables simultaneously (F-statistictest)
effect on profitability (NPM) with significance level 0,000. On the other hand,partially
(t-statistic test) indicates CCC has negative and significant effect onprofitability,
PDP and CR have positive and significant effect on profitability. Meanwhile,
RCP and ICP has positive and not significant effect on profitability. Adjusted’s
score is 0,454 which means that the ability of independent variables can
explainprofitability with 45,4%, while the rest is explain by other factors.
Keywords: working capital
management, cash conversion cycle (CCC), receivable conversion period (RCP),
inventory conversion period (ICP), payable deferral period (PDP), current
ratio(CR), profitability, net profit margin (NPM)
Penulis: Citra Indradewi,
Endang Tri Widyarti
Kode Jurnal: jpmanajemendd161378
