Analisis Pengaruh Manajemen Modal Kerja Terhadap Profitabilitas Perusahaan Yang Terdaftar di Bursa Efek Indonesia dan Malaysia

Fitriyanti, Fitriyanti (2012) Analisis Pengaruh Manajemen Modal Kerja Terhadap Profitabilitas Perusahaan Yang Terdaftar di Bursa Efek Indonesia dan Malaysia. Undergraduate thesis, Universitas Internasional Batam.

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Abstract

This research aimed to analyze the effect of working capital management on firm profitability. The independent variable working capital management is measured by number of days account receivable, number of days inventories, number of days account payable, and cash conversion cycle. The dependent variable return on assets is used as a measure of firm profitability. There is a control variable in this research, which are measured by firm size, debt ratio, annual GDP growth and sales growth. This research used a sample of 82 companies listed in the Indonesia Stock Exchange (IDX) and 299 companies listed in the Malaysia Stock Exchange (BEM) for the period of 2006 to 2010, which are selected by using purposive sampling method. This research is a basic research and comparative causal research. The statistical method that used in this study is multiple regression method. The finding of this research show that number of days account receivable, number of days account payable, and cash conversion cycle it don’t have significant effect on return on assets in IDX and BEM and number of days inventories it do not have a significant effect on return on assets in the IDX but have significant effect on reurn on assets in the BEM. Control variable firm size, debt ratio, and sales growth have a significant effect on return on assets in IDX and BEM, while annual GDP growth have significant on return on asset in the IDX but do not have a significant effect on return on assets in BEM. Keywords: Number of Days Account Receivable, Number of Days Inventories, Number of Days Account Payable, Cash Conversion Cycle, Firm Size, Sales Growth, Financial Debt Level, Annual GDP Growth and Return on Assets.

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