Pengaruh Manajemen Modal Kerja Terhadap Profitabilitas Perusahaan (Studi Empiris Pada Perusahaan Industri dan Manufaktur Periode 2007-2010)

PERWIRA, ARIA (Adv.: Choirunnisa Arifa, S.E., M.Sc.), Choirunnisa Arifa, S.E., M.Sc.

2012 | Skripsi | S1 Accounting

Penelitian ini bertujuan untuk mengetahui serta menganalisa pengaruh manajemen modal kerja dan profitabilitas perusahaan pada industri dan manufaktur. Proksi manajemen modal kerja yang digunakan pada penelitian ini adalah cash conversion cycle (CCC), the number of days account receivables (DAR), the number of days inventories (DI), dan the number of days account payables (DAP) yang juga berperan sebagai variabel independen. Faktor-faktor yang menjadi variabel dependen pada penelitian ini adalah Return on Equity, Return on Capital Employed, dan Gross Operating Profit.

Pengambilan sampel dilakukan dengan menggunakan metode purposive sampling. Sampel yang didapat penelitian ini terdiri dari 82 perusahaan industri dan manufaktur yang listing di Bursa Efek Indonesia selama periode 2007-2010. Metode analisis yang digunakan adalah menggunakan regresi linear berganda.

Hasil penelitian menunjukkan bahwa cash conversion cycle, the number of days account receivables, dan the number of days account payables dapat mempengaruhi Return on Equity, dari perusahaan industry dan manufaktur, kemudian cash conversion cycle, the number of days account receivables, dan the number of days inventories dapat mempengaruhi nilai dari Return on Capital Employed perusahaan dan selanjutnya, hanya the number of days account receivables yang dapat mempengaruhi Gross Operating Profit, sementara cash conversion cycle dan the number of days inventories mempengaruhi Gross Operating Profit dengan hubungan yang tidak sesuai dengan dugaan sebelumnya.

This study aims to determine and analyze the influence of working capital management and profitability of companies in industrial and manufacturing. Working capital management proxy used in this study is the cash conversion cycle (CCC), the number of days account receivables (DAR), the number of days inventories (DI) and the number of days account payables (DAP), which also serves as the independent variable. The factors to be dependent variables in this study is the return on equity, return on capital employed, and gross operating profit.

Sampling was conducted using purposive sampling method. Obtained samples of this study consisted of 82 industrial and manufacturing companies are listing on the Indonesia Stock Exchange during the period 2007-2010. The analytical method used is to use multiple linear regression.

The results showed that the cash conversion cycle, the number of days account receivables, and the number of days account payables can affect to return on equity of industrial and manufacturing companies, then the cash conversion cycle, the number of days account receivables, and the number of days inventories may affect the value of return on capital employed. Gross operating profit only affected by the number of days account receivables, while the cash conversion cycle and the number of days inventories affect to gross operating profit by relationships that are inconsistent with previous allegations.

Kata Kunci : Working capital management, profitability, cash conversion cycle, the number of days account receivables, the number of days inventories, the number of days account payables, Manajemen modal kerja, profitabilitas