ANALISIS PENGARUH EFISIENSI MANAJEMEN MODAL KERJA TERHADAP PROFITABILITAS PERUSAHAAN MANUFAKTUR INDUSTRI MAKANAN DAN MINUMAN TERDAFTAR DI BURSA EFEK INDONESIA

ANALISIS PENGARUH EFISIENSI MANAJEMEN MODAL KERJA TERHADAP PROFITABILITAS PERUSAHAAN MANUFAKTUR INDUSTRI MAKANAN DAN MINUMAN TERDAFTAR DI BURSA EFEK INDONESIA

  • Indri Damayanti
  • Augustina Kurniasih

Abstract

The purpose of this study is to examine and analyze the relationships between working
capital management and the profitability of manufacture industry at food and drink sector
at Indonesia Stock Exchange. The efficiency of working capital management is reflected
by three variables cash conversion efficiency, days operating cycle, and days of working
capital. We use return on assets, return on equity, profit margin on sales and earning
power as proxies for profitability. The sampling method used was purposive sampling.
From 16 listed food and drink companies, 13 listed companies met the criteria to be the
sample. The method of analysis used in this study is correlation and multiple linear
regression with panel data. The result showed that there is a significant positive rank
correlation between working capital management and the profitability. The findings of
the regression analysis show that average days in inventory, average days receivable and
average days payable simultaneously have a significant influence on profitability.
Partially average days in inventory and average days payable are not having significant
influence on profitability, average days receivable has a significant negative impact on
profitability.
Keywords : working capital, profitability, food and drink industry sector

Published
Sep 20, 2018
How to Cite
DAMAYANTI, Indri; KURNIASIH, Augustina. ANALISIS PENGARUH EFISIENSI MANAJEMEN MODAL KERJA TERHADAP PROFITABILITAS PERUSAHAAN MANUFAKTUR INDUSTRI MAKANAN DAN MINUMAN TERDAFTAR DI BURSA EFEK INDONESIA. Jurnal Kompleksitas, [S.l.], v. 5, n. 01, p. 15, sep. 2018. ISSN 1978-8754. Available at: <http://ojs.poltek-swadharma.ac.id/index.php/kompleksitas/article/view/5>. Date accessed: 19 oct. 2018.