PENGARUH KOMPONEN WORKING CAPITAL TERHADAP PROFITABILITAS PERUSAHAAN

Anggita Langgeng Wijaya

Abstract


Penelitian ini menguji efek komponen modal kerja terhadap profitabilitas  perusahaan manufaktur yang terdaftar di Bursa Efek Indonesia selama periode 2005-2007. Komponen modal kerja yang digunakan dalam penelitian ini meliputi aktiva lancar terhadap rasio aset total, kewajiban lancar terhadap  rasio aset total, rasio lancar, rasio leverage dan uang tunai. Populasi penelitian ini adalah semua perusahaan manufaktur di Bursa Efek Indonesia. Metode pengambilan sampel yang digunakan adalah metode purposif. Dan analisis regresi berganda digunakan untuk uji hipotesisnya. Hasil penelitian menunjukkan bahwa: komponen modal kerja memiliki pengaruh penting pada profitabilitas perusahaan. Kewajiban lancar terhadap rasio aset total, rasio lancar dan leverage berdampak negatif terhadap profitabilitas. Di sisi lain, current aset terhadap aset rasio total dan cash ratio berdampak positif pada profitabilitas.

 

This research tests the effect of working capital’s component to the profitability of manufacturing company listed in Indonesia Stock Exchange over the period of 2005-2007. The working capital’s components used in this research include current asset to total asset ratio, current liabilities to total asset ratio, current ratio, leverage and cash ratio. Population of this research is all of manufacturing company at Indonesia Stock Exchange. Sampling method uses purposive sampling method. Hypothesis test uses multiple regression analysis. The results show that working capital component has significance influence on corporate profitability, current liabilities to total asset ratio, current ratio and leverage have negative impact on profitability. In other side, current asset to total asset ratio and cash ratio have positive impact on profitability.


Keywords


liquidity; current assets; current liabilities; profitability; working capital

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DOI: https://doi.org/10.15294/jda.v4i1.1956

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