Pengaruh Manajemen Modal Kerja Terhadap Profitabilitas (Studi Empiris Perusahaan Manufaktur Yang Terdaftar Di Bursa Efek Indonesia)
DOI:
https://doi.org/10.26740/jaj.v4n1.p35-50Keywords:
Current Ratio, Cash Flow Ratio, Debt To Equity Ratio, Value Added ProfitabilityAbstract
Abstract
This research aims to analyze the affect between working capital management as measured by current ratio (CR), cash flow ratio (CFR), and debt to equity ratio (DER) to profitability as measured by value added (VA). The sample used was manufacturing company listed on Indonesia Stock Exchange period 2009-2011. The analysisis using logistic regression. The results show thatcurrent ratio had negativeeffect on the profitability and cash flow ratio had positiveeffect on the profitabilityratio. However, debt to equity ratio had no effect on profitability.
References
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Munawir, S. 2002. Analisis Informasi Keuangan. Yogyakarta: Liberti Yogyakarta.
Paul, Salima Y., S. Susela Devi, dan Chee Ghee Teh, 2012, ˜Impact of late payment onFirms' profitability: Empirical evidence from Malaysia, Pacific-Basin Finance Journal 20, pp 777792. https://doi.org/10.1016/j.pacfin.2012.03.004
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Saleem,Qasim dan Ramiz Ur Rehman, 2011, ˜Impacts of liquidity ratios on profitability(Case of oil and gas companies of Pakistan), Interdisciplinary Journal of Research inBusiness, Vol. 1, Issue.7, July 2011, pp.95-98.
Shin, Hyun-Han dan Luc Soenen, 1998, ˜Efficiency of Working Capital Management andCorporate Profitability, Financial Practice and Education Fall/Winter 1998, Vol. 8 Issue 2, p37
Sundjaja, Ridwan dan Inge Barlian. 2002. Manajemen Keuangan, Edisi 4. Jakarta: PTPrenhallindo.
Supriyadi, Yoyon dan Fani Fazriani, 2011, ˜Pengaruh Modal Kerja Terhadap TingkatLikuiditas dan Profitabilitas (Studi Kasus pada PT Timah Tbk dan PT Antam Tbk),Jurnal Ilmiah Ranggagading, Volume 11, No. 1, April 2011:P 1-11.
Van Horne, James C. dan John M. Wachowicz JR. 2009. Fundamental of FinancialManagement (Prinsip-Prinsip Manajemen Keuangan), Edisi 12, Jakarta: Salemba Empat.
Al-Debi'e, Mamoun M., 2011, ˜Working Capital Management and Profitability: The Case ofIndustrial Firms in Jordan, European Journal of Economics, Finance and Administrative Sciences, ISSN 1450-2275 Issue 36.
Ambarwati, Sri Dwi Ari. 2010. Manajemen Keuangan Lanjut. Yogyakarta: Graha Ilmu.
Belak, Vinko dan Barac, Zeljana Aljinovic. 2008. Secrets of Capital Markets, Belak doo,Zagreb, Hrvatska.
Biswal, Saroj Kanta; Alaka Samantaray; dan Anita Sahoo, 2012,˜Accounts receivablesRisk Management in IndianPharmaceutical Industry: Financial Model Building in Revived Scenario,International Research Journal of Finance and Economics, ISSN 1450-2887 Issue 82 (2012).
Chandrakumarmangalam S. dan P. Govindasamy., 2010, ˜Leverage An Analysis and itsImpact on Profitability with Reference to Selected Cement Companies in India, European Journal of Economics, Finance and Administrative Sciences, ISSN 1450-2275, Issue 27 (2010).
Chary, T.Satyanarayana;Ramanadh Kasturi; dan K. Sampath kumar,2011, ˜RelationshipBetween Working Capital and Profitability - A Statistical Approach, International Journal of Research in Finance and Marketing, vol. 1, Issue 7.
Deloof, Marc, 2003, ˜Does Working Capital Management Affect Profitability of BelgianFirms?, Journal of Business Finance and Accounting, 30(3) &(4). https://doi.org/10.1111/1468-5957.00008
Eriotis, Nikolaos P, Zoe Frangouli, dan Zoe Ventoura-Neokosmides, 1999, ˜Profit MarginAnd Capital Structure:An Empirical Relationship, The Journal of Applied Business Research, Volume 18, Number 2. https://doi.org/10.19030/jabr.v18i2.2118
Hayami Y., Thosinori, M., dan Masdjidin S. 1987.Agricultural Markerting and Processing in Upland Java: A prospectif From A Sunda Village, Bogor.
Hayajneh, Osama Suhail dan Fatima Lahcen Ait Yassine, 2011, ˜The Impact of WorkingCapital Efficiency on Profitability an Empirical Analysis on Jordanian Manufacturing Firms, International Research Journal of Finance and Economics, ISSN 1450-2887 Issue 66.
Jumingan. 2006. Analisis Laporan Keuangan. Jakarta: PT Bumi Aksara.
Kodrat, David Sukardi dan Christian Herdinata. 2009. Manajemen Keuangan based onEmpirical. Yogyakarta: Graha Ilmu.
Munawir, S. 2002. Analisis Informasi Keuangan. Yogyakarta: Liberti Yogyakarta.
Paul, Salima Y., S. Susela Devi, dan Chee Ghee Teh, 2012, ˜Impact of late payment onFirms' profitability: Empirical evidence from Malaysia, Pacific-Basin Finance Journal 20, pp 777792. https://doi.org/10.1016/j.pacfin.2012.03.004
Raheman, Abdul and Mohamed Nasr, 2007, ˜Working Capital Management And Profitability
Case Of Pakistani Firms, International Review of Business Research Papers, Vol.3 No.1. March 2007, Pp.279 300.
Saleem,Qasim dan Ramiz Ur Rehman, 2011, ˜Impacts of liquidity ratios on profitability(Case of oil and gas companies of Pakistan), Interdisciplinary Journal of Research inBusiness, Vol. 1, Issue.7, July 2011, pp.95-98.
Shin, Hyun-Han dan Luc Soenen, 1998, ˜Efficiency of Working Capital Management andCorporate Profitability, Financial Practice and Education Fall/Winter 1998, Vol. 8 Issue 2, p37
Sundjaja, Ridwan dan Inge Barlian. 2002. Manajemen Keuangan, Edisi 4. Jakarta: PTPrenhallindo.
Supriyadi, Yoyon dan Fani Fazriani, 2011, ˜Pengaruh Modal Kerja Terhadap TingkatLikuiditas dan Profitabilitas (Studi Kasus pada PT Timah Tbk dan PT Antam Tbk),Jurnal Ilmiah Ranggagading, Volume 11, No. 1, April 2011:P 1-11.
Van Horne, James C. dan John M. Wachowicz JR. 2009. Fundamental of FinancialManagement (Prinsip-Prinsip Manajemen Keuangan), Edisi 12, Jakarta: Salemba Empat.
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Published
2012-10-11
How to Cite
Permatasari, I., & Puspitasari, D. (2012). Pengaruh Manajemen Modal Kerja Terhadap Profitabilitas (Studi Empiris Perusahaan Manufaktur Yang Terdaftar Di Bursa Efek Indonesia). AKRUAL: Jurnal Akuntansi, 4(1), 35–50. https://doi.org/10.26740/jaj.v4n1.p35-50
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