Analisis Faktor-Faktor yang Mempengaruhi Working Capital dan Investment Ratio

Susanty, Yanti (2011) Analisis Faktor-Faktor yang Mempengaruhi Working Capital dan Investment Ratio. Undergraduate thesis, Universitas Internasional Batam.

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Abstract

Working capital is believed that can affect the profitability of a firm accordings to many researches so that it is important in researching about the factors affecting the working capital management. While working capital is about current ratio of the company so it is also important to study the factor affecting the long term investment ratio of the company. In this study will examine factors affecting working capital and investment ratio as these two variables are crucial variables that will affect the company short term and long run financing policy. This study measures for 54 companies listed in Indonesian Stock Exchange in the period of 2005 until period of 2009 which its working capital and operating cash flow must be positive and also have capital expenditures in the study period. This research aims in analyzing the factors that affecting working capital management and investment ratio. The factors that being used in this research that affecting working capital are accounts receivable turnover, inventory turnover, accounts payable turnover, working capital per share, and cash flow per share. And the factor that affecting investment ratio is capital expenditures. The result indicates that the accounts receivable turnover and working capital per share are positively significant to working capital. As for cash flow per share is negatively significant to working capital. And lastly inventory turnover and accounts payable turnover are positively unsignificant to working capital. The results also indicate that capital expenditures is positively significant to investment ratio. Keywords: accounts receivable turnover, inventory turnover, accounts payable turnover, working capital per share, cash flow per share, working capital, capital expenditures, dan investment ratio.

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