DAMPAK MANAJEMEN WORKING CAPITAL TERHADAP PROFITABILITAS PERUSAHAAN YANG TERDAFTAR DI BURSA EFEK INDONESIA

William Tjong, Donny Donny

Abstract


Penelitian ini mencoba menguji bagaimana manajemen working capital mempengaruhi kinerja perusahaan dalam jangka pendek Manajemen working capital diukur berdasarkan cash conversion cycle, inventory turnover, days payable outstanding dan account receivable turnover. Sedangkan kinerja jangka pendek diukur menggunakan return on invested capital perusahaan. Data dikumpulkan secara tahunan untuk perusahaan non keuangan dan non perbankan yang terdaftar di Bursa Efek Indonesia. Hasil penelitian ini menunjukan bahwa manajemen working capital mempengaruhi kinerja perusahaan. Khususnya variable cash conversion cycle yang nemiliki pengaruh negatif terhadap profitibilitas perusahaan. Hal tersebut menunjukan bahwa jika perusahaan dapat mempercepat waktu dalam pengelolaan cash conversion cyclenya maka perusahaan dapat meningkatkan profitabilitas baik secara partial atau bersama-sama.


Keywords


Working capital, Return on Invested Capital; Cash Conversion cycle

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