PENGARUH SIKLUS KONVERSI KAS TERHADAP RASIO PROFITABILITAS PERUSAHAAN SEKTOR INDUSTRI MANUFAKTUR YANG TERDAFTAR DI BURSA EFEK INDONESIA PERIODE 2010-2013
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Siklus konversi kas dan profitabilitas
Abstract
Penelitian ini bertujuan untuk membuktikan adanya pengaruh siklus konversi kas terhadap rasio profitabilitas. Penelitian ini menggunakan pendekatan kuantitatif. Sampel dalam penelitian ini adalah semua perusahaan sektor manufaktur yang terdaftar di Bursa Efek Indonesia periode 2010-2013 sejumlah 364 sampel. Penelitian ini menggunakan Analisis Regresi Linier Berganda. Hasil uji dalam penelitian ini menunjukkan bahwa siklus konversi kas berpengaruh negatif signifikan terhadap rasio profitabilitas perusahaan. Hasil ini menunjukkan bahwa ketika perusahaan mampu mempercepat waktu perputaran persediaan dan pembayaran dari pelanggan serta mampu menunda pembayaran kepada kreditur maka akan meningkatkan profitabilitas perusahaan.
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References
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Mathuva, D. (2009). The Influence of Working Capital Management Components on Corporate Profitability : A Survey on Kenyan Listed Firms. Research Journal of Business Management, 3 : 1-11.
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Priharyanto, Budi. 2009. Analisis Pengaruh Current Ratio, Inventory Turnover, Debt To Equity Ratio, dan Size Terhadap Profitabilitas. Tesis. Magister Manajemen pada Fakultas Ekonomi Universitas Diponegoro, Semarang.
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Brigham, E.F dan Ehrhardt, M.C. 2005. Financial Management: Theory and Practice, 11e. South-Western : Thomson.
Deloof, M (2003). Does working capital management affect profitability of Belgian firms?. Journal of Business Finance and Accounting, Vol. 30 : Nos ¾, pp. 573-588.
Ebben, J. dan Johnson, A. (2011). Cash Conversion Cycle management in Small Firms : Relationships with Liquidity. Journal of Small Business & Entrepreneurship, 24 (3):381-396.
F. Samiloglu dan K. Demirgunes (2008). TheEffect of Working Capital Management on Firm Profitability : Evidence from Turkey. The International Journal of Applied Economics and Finance, Vol 2, pp 44-50.
Garcia-Teruel,J. dan Martinez-Solano, P. (2007). Effects of Working Capital Management on SME Profitability. International Journal of Mannagerial Finance, Vol 3 No. 2, pp 164-177.
Gujarati, Damodar N. 2003. Basic Econometrics. Fourth edition. McGraw-Hill,. New York
Gitman, L.J (2009). Principles of Managerial Finance. Twelfth Edition. Peason, Practice Hall.
Hutchison, P. D., M. Theodore Farris II, dan Susan B. Andres (2007) Cash-to-Cash Analysis Management. The CPA Journal, 77 (8):42-47.
Indonesian Commercial Newsletter (2011. Fokus Industri Manufaktur Mulai Bergairah Kembali (www.datacon.co.id diakses pada 14 November 2014)
Jose, M. L., Lancaster, C., dan Stevens, J. L. 1996. Corporate Returns and Cash Conversion Cycles. Journal of economics and Finance. 20 (1):33-46.
Lazaridis, I. dan Tryfonidis, D. (2006). Relationship Between Working Capital Management and Profitability of Listed Companies in the Athens Stock Exchange. Journal of Financial Management and Analysis, Vol. 19, pp 25-26.
Mathuva, D. (2009). The Influence of Working Capital Management Components on Corporate Profitability : A Survey on Kenyan Listed Firms. Research Journal of Business Management, 3 : 1-11.
Nugroho, B. A. 2005. Strategi Jitu Memilih Metode Statistik Penelitian dengan SPSS. Yogyakarta: C.V Andi Offset.
Ohman, D.Y. (2014). The Impact of Cash Conversion Cycle on Firm Profitability : An Empirical Study Based on Swedish Data. International Journal of Managerial Finance, Vol. 10 lss 4, pp 442-452.
Priharyanto, Budi. 2009. Analisis Pengaruh Current Ratio, Inventory Turnover, Debt To Equity Ratio, dan Size Terhadap Profitabilitas. Tesis. Magister Manajemen pada Fakultas Ekonomi Universitas Diponegoro, Semarang.
Raheman, Abdul dan Nasr, Mohamed. (2007). Working Capital Management and Profitabilitas – Case of Pakistani Firms. International Review of Business Research Papers, Vol. 3 No. 1, pp 279-300.
Published
2016-03-01
Section
Bidang Akuntansi (AK)
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