Pengaruh manajemen modal kerja terhadap profitabilitas perusahaan fast moving consumer goods di Indonesia dari tahun 2016-2021
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Abstract
This study aims to examine the effect of working capital on the profitability of fast-moving consumer goods (FMCG) companies in Indonesia from 2016 – 2021. The population in this study are FMCG companies listed on the Indonesia Stock Exchange and issuing financial reports for the period 2016 – 2021 The sample selection was carried out using the purposive sampling method and obtained a sample of 24 financial statements from 2016 – 2021 with a total of 144 observations. The data used is secondary data with multiple regression testing. The software used for the testing is SPSS version 23. The dependent variables of this study are Return on Assets (ROA), Return on Equity (ROE), and Net Profit Margin (NPM), where these three variables are considered to represent company profitability. The independent variables used are Current Ratio (CR), Average Collection Period (ACP), Average Payment Period (APP), and Cash Conversion Cycle, where these four variables are considered to represent working capital management. Three models were created to predict the effect of working capital on (1) ROA, (2) ROE, and (3) NPM. Regarding the effect of working capital on ROA, the results of this study indicate that only APP has a partially significant effect. Regarding the effect of working capital on ROE, the results show that APP and CCC each have a partially significant effect. Related to the effect of working capital on NPM, the results show that APP and CCC each have a partially significant effect.
Penelitian ini bertujuan untuk menguji pengaruh modal kerja terhadap profitabilitas perusahaan Fast Moving Consumer Goods (FMCG) di Indonesia dari tahun 2016 – 2021. Populasi dalam penelitian ini adalah perusahaan fast moving consumer goods yang terdaftar di Bursa Efek Indonesia dan menerbitkan laporan keuangan periode 2016 – 2021. Pemilihan sampel dilakukan dengan menggunakan metode purposive sampling dengan tujuan untuk mendapatkan sampel yang representatif sesuai dengan kriteria yang ditentukan dan diperoleh sampel laporan keuangan sejumlah 24 perusahaan dari tahun 2016 – 2021 dengan total observasi sebanyak 144 observasi. Data yang digunakan adalah data sekunder dengan pengujian multiple regression. Software yang digunakan untuk melakukan pengujian adalah dengan SPSS versi 23. Variabel dependent dari penelitian ini adalah Return on Asset (ROA), Return on Equity (ROE), dan Net Profit Margin (NPM), dimana ketiga variabel ini dianggap mewakili profitabilitas perusahaan. Variabel independent yang digunakan adalah Current Ratio (CR), Average Collection Period (ACP), Average Payment Period (APP), dan Cash Conversion Cycle, dimana keempat variabel ini dianggap mewakili manajemen modal kerja. Dibuat 3 model untuk memprediksi pengaruh modal kerja terhadap (1) ROA, (2) ROE, dan (3) NPM. Terkait dengan pengaruh modal kerja terhadap ROA, hasil penelitian ini menunjukan bahwa hanya APP yang secara parsial berpengaruh signifikan. Terkait dengan pengaruh modal kerja terhadap ROE, hasil penelitian ini menunjukan APP dan CCC masing-masing secara parsial berpengaruh signifikan. Dan yang terakhir, terkait dengan pengaruh modal kerja terhadap NPM, hasil penelitian ini menunjukan bahwa APP dan CCC masing-masing secara parsial berbengaruh signifikan.
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