Pengaruh likuiditas terhadap profitabilitas pada perusahaan konstruksi yang terdaftar di Bursa Efek Indonesia tahun 2019-2021
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Abstract
The purpose of this research is to determine the effect of liquidity, with the chosen ratios of Current Ratio, Quick Ratio, and Cash Conversion Cycle, on the profitability of a firm, which is indicated by Return on Equity (ROE) and Tangibility and Company Growth as control variables of construction companies with sub-industry of Heavy Construction and Civil Engineering listed in Indonesia Stock Exchange from 2019 to 2022. The sampling method is purposive sampling with a total of 33 samples with chosen criteria. The research employs data panel analysis, and the results show that the Current Ratio and Quick Ratio, which are the most used ratios to indicate liquidity do not have a significant effect on ROE. Meanwhile, the Cash Conversion Cycle, which indicates liquidity in a more dynamic view, was found to have a significant effect on Return on Equity. Two variables of control are used in this research, Tangibility and Company Growth, which both proved to significantly impact ROE.
Tujuan dari penelitian ini adalah untuk mengetahui pengaruh likuiditas yang direpresentasikan dengan rasio Current Ratio, Quick Ratio, dan Cash Conversion Cycle terhadap profitabilitas suatu perusahaan yang ditunjukkan dengan Return on Equity (ROE) dan Tangibility, dan Company Growth sebagai variabel kontrol pada perusahaan konstruksi dengan sub industri Konstruksi Berat dan Teknik Sipil yang terdaftar di Bursa Efek Indonesia periode 2019-2022. Metode pengambilan sampel adalah purposive sampling dengan jumlah sampel 33 dengan kriteria terpilih. Penelitian ini menggunakan analisis panel data, dan hasilnya menunjukkan bahwa Current Ratio dan Quick Ratio, yang merupakan rasio yang paling banyak digunakan dalam analisis likuiditas laporan keuangan, tidak berpengaruh signifikan terhadap ROE. Sementara itu, Cash Conversion Cycle yang mengindikasikan likuiditas dalam pandangan yang lebih dinamis ternyata berpengaruh signifikan terhadap Return on Equity. Dua variabel kontrol yang digunakan dalam penelitian ini, Tangibility dan Company Growth, keduanya terbukti berpengaruh signifikan terhadap ROE.
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