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Email this article PENGARUH MANAJEMEN MODAL KERJA DAN LIKUIDITAS TERHADAP PROFITABILITAS PADA PERUSAHAAN MANUFAKTUR DI SUBSEKTOR KERAMIK, KACA DAN PORSELIN YANG TERDAFTAR DI BURSA EFEK INDONESIA PERIODE 2009-2016
Abstract
Penelitian ini bertujuan untuk menganalisis pengaruh Manajemen Modal Kerja dan Likuiditas terhadap Profitabilitas pada Perusahaan Manufaktur di Subsektor Keramik, Kaca dan Porselin yang terdaftar di Bursa Efek Indonesia periode 2009-2016. Penelitian ini merupakan penelitian kuantitatif kausalitas, sampel penelitian adalah seluruh perusahaan manufaktur di subsektor keramik, kaca dan porselin yang terdaftar di Bursa Efek Indonesia periode 2009-2016 sebanyak 6 perusahaan. Metode analisis data yang digunakan adalah regresi linier berganda data panel dengan tingkat kepercayaan sebesar 0,05, analisis deskriptif, uji t dan pengujian menggunakan software Eviews 9.5SD. Manajemen modal kerja diukur dengan NOWC/sales dan NTC, kebijakan modal kerja diukur dengan CATAR dan CLTAR dan Likuiditas diukur dengan OCF/CL. Berdasarkan pengujian model didapatkan bahwa fixed effect adalah model terbaik. Berdasarkan hasil analisis data didapatkan hasil bahwa NOWC/Sales berpengaruh positif terhadap ROIC, NTC berpengaruh negatif terhadap ROIC, CATAR berpengaruh positif terhadap ROIC, CLTAR berpengaruh positif terhadap ROIC dan OCF/CL berpengaruh positif terhadap ROIC.
This study aims to examine and analyze the effect of Working Capital and Liquidity on the Performance Manufacture Company on Subsectore Keramik, Kaca and Porcelin in Indonesia Listed Company period 2009-2016. This study is quantitative causality methode, with sample used to all manufacture company on Subsectore Ceramic, Glass amd Porceline in Indonesia Listed Company period 2009-2016 amounted to 6 companies. Data analysis model uses multiple linier regression panel data with level of confidence at 0,05, descriptive statistics, t test and examined using by software Eviews 9.5SD. Working capital management measured by NOWC/Sales and NTC, working capital management policy measured by CATAR and CLTAR, and liquidity measured by OCF/CL. Based on the results model analysis found that fixed effect model is the best on this study. Based on the results found that there is negative relationship NTC on ROIC, positive relationship NOWC/Sales on ROIC, positive relationship CATAR on ROIC, positive relationship CLTAR on ROIC and positive relationship OCF/CL on ROIC.
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DOI: http://dx.doi.org/10.26623/jreb.v11i1.1074
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