PENGARUH MANAJEMEN MODAL KERJA TERHADAP PROFITABILITAS PERUSAHAAN ( Studi Perbandingan Antara Perusahaan di Sektor Industri Barang Konsumsi dan Perusahaan Retail)

• Main Authors: , SHERLI ELZA STEFANIE, , Prof. Dr. Tandelilin Eduardus, M.B.A.
• Format: Theses and Dissertations NonPeerReviewed
• Published: [Yogyakarta] : Universitas Gadjah Mada 2014
• Subjects: ETD
• Online Access: https://repository.ugm.ac.id/129654/; http://etd.ugm.ac.id/index.php?mod=penelitian_detail&sub=PenelitianDetail&act=view&typ=html&buku_id=70049
• Institution: Universitas Gadjah Mada

This study aims to determine and analyze the effect of working capital management on the profitability of each company in the consumer goods and retail companies, and whether there are differences between them. Proxy that is used to measure working capital management is the cash conversion cycle (CCC), which consists of three components, namely the number of days of inventory (DI), number of days accounts receivable (DAR), and the number of days accounts payable (DAP). The shorter CCC means the higher profitability of the company. CCC, IN, DAR, and DAP becoming independent variables in this study. While proxy that is used to measure the profitability of a company is ROA (return on assets). Sampling was done by using purposive sampling method. The samples obtained in this study consist of 27 consumer goods companies and 13 retail companies listed in Indonesia Stock Exchange during the period of 2009-2012. The analytical method used is multiple linear regressions. The result shows that in the consumer goods companies, CCC, DAR and the DAP are effecting the profitability of the company, while in the retail companies, DI, DAR, DAP are effecting the profitability of the company. This study also shows that there is a difference between working capital management influences in consumer goods companies and retail companies. Keywords : working capital management, profitability, cash conversion cycle (CCC), number of days of inventory (DI), number of days accounts receivable (DAR), number of days accounts payable (DAP), enterprise agency, retail and consumer goods.