PENGARUH CASH CONVERSION CYCLE DAN WORKING CAPITAL TURNOVER TERHADAP RETURN ON ASSET PADA INDUSTRI BARANG KONSUMSI YANG TERDAFTAR DI BURSA EFEK INDONESIA

2015 ◽  
Vol 5 (2) ◽  
pp. 50
Author(s):  
Mohammad Herli ◽  
Hafidhah ,
Keyword(s):  
Consumer Goods ◽  
Stock Exchange ◽  
Quantitative Approach ◽  
Working Capital ◽  
Return On Assets ◽  
Cash Conversion Cycle ◽  
Consumer Goods Industry

This study aimed to examine the effect of the Cash Conversion Cycle and Working Capital Turnover on Return on Assets At the Consumer Goods Industry Listed in Indonesia Stock Exchange (IDX). The method used in this research is the quantitative approach. Results showed variable cash conversion cycle (CCC) and working capital turnover (WCT) simultaneously have a significant effect on profitability (Return on Total Assets). Variabel cash conversion cycle (CCC) partially not have a significant impact on profitability (Return on Total Assets) but variable working capital turnover (WCT) partially have a significant impact on profitability (Return on Total Assets) consumer goods industry issuers listed on the Indonesia Stock Exchange during the period 2010-2014. Keyword : Cash Conversion Cycle, Working Capital Turnover, Return on Assets

scholarly journals Working Capital Management (WCM) and Firm Performance in Emerging Markets: A Case of Bangladesh

2021 ◽  
Vol 10 (1) ◽  
pp. 36
Author(s):  
Rafiqul Bhuyan ◽  
Mohammad Sogir Hossain Khandoker ◽  
Noshin Tasneem ◽  
Mahjuja Taznin
Keyword(s):  
Stock Exchange ◽  
Secondary Data ◽  
Total Asset ◽  
Capital Management ◽  
Working Capital ◽  
Return On Assets ◽  
Working Capital Management ◽  
Cash Conversion Cycle ◽  
Current Asset ◽  
The Impact

We examine the impact of efficient working capital management on market value and profitability. Using secondary data on selected firms from Dhaka Stock Exchange we explore the effects of various working capital components (i.e. cash conversion cycle (CCC), current ratio (CR), current asset to total asset ratio (CATAR), current liabilities to total asset ratio (CLTAR), debt to asset ratio (DTAR), siz,e and growth) to the firm’s performance by looking firm’s value i.e. Tobin’s Q (TQ) and profitability i.e. return on asset (ROA) and return on invested capital (ROIC). Our results show that, for both food and overall manufacturing sectors, there is a significant association between working capital variables and firm’s value & return on assets, but an insignificant association with return on invested capital.

scholarly journals Working capital management and profitability: evidence from Indonesian manufacturing companies

2020 ◽  
Vol 3 (1) ◽  
pp. 36-46
Author(s):  
Irfan Aryawan ◽  
Astiwi Indriani
Keyword(s):  
Stock Exchange ◽  
Manufacturing Companies ◽  
Capital Management ◽  
Working Capital ◽  
Return On Assets ◽  
Working Capital Management ◽  
Cash Conversion Cycle ◽  
Conversion Period ◽  
Collection Period ◽  
The Relationship

The aims of this study is to analyze the relationship between working capital management and profitability (return on assets) as a dependent variable and cash conversion cycle (CCC), inventory conversion period (ICP), average collection period (ACP) and average payment period (APP) as independent variables with leverage, liquidity, and size as the controlling variables. The sample of this study are manufacturing companies in the Indonesian Stock Exchange 2013-2017. The analysis using OLS showed that the ACP has a negative and significant effect on ROA and the APP has a positive and significant effect on ROA, meanwhile CCC and ICP has a negative and insignificant effect on ROA.

scholarly journals Pengaruh perputaran modal kerja piutang kas dan persediaanterhadapnet profit margin pada perusahaan industri barang konsumsi di BEI

JURNAL PUNDI ◽  
2018 ◽  
Vol 2 (1) ◽  
Author(s):  
Martius Martius
Keyword(s):  
Consumer Goods ◽  
Stock Exchange ◽  
Sampling Technique ◽  
Financial Statements ◽  
Profit Margin ◽  
Working Capital ◽  
Net Profit ◽  
Inventory Turnover ◽  
Consumer Goods Industry ◽  
Operational Activities

In the development of free trade and great globalization to the way the company in carrying out operational activities in order to be more effective and efficient. This study aims to determine the turnover of working capital, receivable turnover, cash turnover and inventory turnover of Net Profit Margin (NPM) in consumer goods industry companies listed on the Indonesia Stock Exchange period 2012-2016. The sampling technique used is purposive sampling with the criteria of Consumer Goods Industry which always present the financial statements as of December 2012-2016. The results of this study indicate that partially working capital turnover and receivable turnover have no significant effect on net profit margin, while receivable turnover and cash turnover and inventory turnover significantly influence net profit margin. But simultaneously rotation of working capital, receivable turnover, cash turnover and inventory turnover significantly affect net profit margin. The Adjusted R square value shows that secar jointly with working capital turnover, receivable turnover, cash turnover and inventory turnover contributed to net profit margin of 38.3% while the remaining 61.2% was influenced by other variables not included in this study.

Providing a New Model for Assessment of Working Capital Management:Evidence from Tehran Stock Exchange

2015 ◽  
Vol 1 (1) ◽  
pp. 108
Author(s):  
Seyed Reza Seyednezhad Fahim ◽  
Meysam Kaviani ◽  
Mohamad Pashaei Fashtali
Keyword(s):  
Financial Management ◽  
Stock Exchange ◽  
Capital Management ◽  
Working Capital ◽  
Return On Assets ◽  
Working Capital Management ◽  
Organization Management ◽  
New Model ◽  
Cash Conversion Cycle ◽  
Relationship Of

Working Capital Management (WCM) is one of the key facets of financial management and organization management, for the direct effect it has on company liquidity and profitability. There is a probability of bankruptcy for companies with poor working capital management despite generation of positive return. Current paper explains the relationship of WCM with profitability-based indicators at the hand of a new model. For this purpose, 90 listed companies on Tehran Stock Exchange whose financial data for the period 2008 through to 2012 was available were selected. The results do not confirm significant inverse U-shape relationship of Cash Conversion Cycle (CCC) and Net Working Capital to Total Assets (NWC/TA) as indicators (predictors) of working capital with Return on Assets (ROA), but do indicate a significant inverse U-shape relationship of current ratio and quick ratio with ROA. From the findings, one might infer that each industry has its own optimum current and quick ratios maximizing its return.

scholarly journals Apakah Profitabilitas Memediasi Pengaruh Manajemen Modal Kerja terhadap Nilai Perusahaan?

2021 ◽  
Vol 3 (2) ◽  
pp. 103-114
Author(s):  
Evan Yulandreano ◽  
Apriani Dorkas Rambu Atahau ◽  
Imanuel Madea Sakti
Keyword(s):  
Firm Value ◽  
Positive Impact ◽  
Stock Exchange ◽  
Capital Management ◽  
Working Capital ◽  
Return On Assets ◽  
Working Capital Management ◽  
Cash Conversion Cycle ◽  
Company Value ◽  
Panel Data Regression

This study aims to examine the effect of working capital management on firm value with profitability as a mediating variable. This study uses a sample of 18 retail companies listed on the Indonesia Stock Exchange from 2014 to 2018. Working capital management is measured by Cash Conversion Cycle (CCC), profitability is measured by Return on Assets (ROA), and company value is measured by Tobins Q. Panel data regression is conducted to test the direct effect, followed by the Sobel test to test for the indirect effect. The results showed that working capital management increased firm value directly and indirectly through profitability. Working capital management with a shorter cycle results in greater profitability, thus driving firm value. The implication of this research is that retail companies are expected to shorten the company's cash cycle so that it has a positive impact on the company's profitability and value. DOI: https://doi.org/10.26905/afr.v3i2.5452

scholarly journals THE INFLUENCE OF GOOD CORPORATE GOVERNANCE ON PROFITABILITY IN CONSUMER GOODS INDUSTRY COMPANIES LISTED ON THE INDONESIA STOCK EXCHANGE IN 2019 - 2020

2022 ◽  
Vol 14 (2) ◽  
pp. 435-442
Author(s):  
Tri Nur Rohmah
Keyword(s):  
Corporate Governance ◽  
Consumer Goods ◽  
Stock Exchange ◽  
Statistical Test ◽  
Significant Positive Effect ◽  
Return On Assets ◽  
Test Tool ◽  
Good Corporate Governance ◽  
Consumer Goods Industry ◽  
Positive Effect

This research on profitability aims to examine the effect of good corporate governance on profitability. The population in this research are Consumer Goods Industry companies listed on the Indonesia Stock Exchange in 2019 - 2020. The sample in this research was selected through purposive sampling, so that a sample of 104 companies was obtained. The statistical test tool uses multiple regression analysis. Profitability in this research was measured using Return on Assets, while good corporate governance was measured using external ownerships. The results show that external ownerships has no significant positive effect on profitability.

scholarly journals Pengaruh Penerapan Green Accounting Terhadap Tingkat Profitabilitas Perusahaan

2020 ◽  
Vol 20 (2) ◽  
pp. 124-131
Author(s):  
Rini Lestari ◽  
Fara Aisya Nadira ◽  
Nurleli Nurleli ◽  
Helliana Helliana
Keyword(s):  
Consumer Goods ◽  
Environmental Performance ◽  
Sampling Method ◽  
Stock Exchange ◽  
Manufacturing Sector ◽  
Environmental Disclosure ◽  
Return On Assets ◽  
Green Accounting ◽  
Accounting Firm ◽  
Consumer Goods Industry

Abstract. A manufacturing company in its growth can result in a positive or negativezimpactzon thezsurroundingzenvironment, from here develops accounting not only provide information about financial companies so appear a new term called green accounting. This study was conducted to determine thezapplicationzof greenzaccounting, company profitability, andzto test the application of green accounting to the level of profitability of companies in the manufacturing sector of the consumer goods industry. In this study, the application of green accounting is composed of two sub-variables: environmentalzperformancezandzenvironmentalzdisclosureztozthe level of profitability indicators ROA (Return on Assets). The method used in research method verification with a quantitative approach, Selected populations in this study were 42 companies manufacturing consumer goods industry sector listed in Indonesia Stock Exchange during the three years 2015-2017 by using purposive sampling method, in order to obtain a sample of 17 companies that meet the criteria. Data were analyzed using multiple regression. The results of this study indicate that the application of green accounting, as measured by the environmental performance affects the profitability level while the implementation of green accounting firm as measured by environmental disclosure did not affect the level of corporate profitability.Keywords: Environmental Performance, Application of Green Accounting, Environmental Disclosure, Corporate Profitability Levels. Abstrak. Perusahaan manufaktur dalam pertumbuhannya dapat menimbulkan dampak yang positif maupun dampak yang negatif terhadap lingkungan sekitarnya, dari sini berkembanglah akuntansi yang tidak hanya menyajikan informasi tentang keuangan perusahaan sehingga munculah istilah baru dalam akuntansi yang dinamakan green accounting. Penelitian ini dilakukan untuk mengetahui penerapan green accounting, tingkat profitabilitas perusahaan, dan menguji penerapan green accounting terhadapztingkatzprofitabilitaszperusahaanzpada perusahaan manufakturzsektor industrizbarangzkonsumsi. Dalam penelitian ini, penerapan green accounting terdiri dari dua sub variabel yaitu kinerja lingkungan dan pengungkapan lingkungan terhadap tingkat profitabilitas dengan indikator ROA (Return on Assets). Metodezpenelitianzyangzdigunakanzyaitu metode penelitan verifikatif denganzpendekatanzkuantitatif. Populasizyang dipilih padazpenelitianzini yaitu 42 perusahaanzmanufakturzsektor industri barangzkonsumsizyang listing dizBursazEfekzIndonesia selama 3 tahun padaztahun 2015-2017 dengan menggunakan metodezpurposivezsampling, sehingga diperoleh sampel 17 perusahaan yang memenuhi kriteria. Data dianalisis dengan menggunakan regresi berganda. Hasil penelitian ini menunjukkan bahwa penerapan green accounting yang diukurzdengan kinerja lingkungan berpengaruhzterhadap tingkat profitabilitaszperusahaan sedangkan penerapan green accounting yang diukur dengan pengungkapan lingkungan tidak berpengaruh terhadap tingkat profitabilitaszperusahaan.Kata Kunci: KinerjazLingkungan, Penerapan Green Accounting, PengungkapanzLingkungan, Tingkat ProfitabilitaszPerusahaan.

scholarly journals Analisis Pengaruh Manajemen Modal Kerja terhadap Profitabilitas dalam Industri Consumer Goods yang Terdaftar di Bursa Efek Indonesia

2012 ◽  
Vol 3 (1) ◽  
pp. 183
Author(s):  
Iswandi Iswandi
Keyword(s):  
Consumer Goods ◽  
Statistical Significance ◽  
Capital Management ◽  
Working Capital ◽  
Working Capital Management ◽  
Cash Conversion Cycle ◽  
Firm Profitability ◽  
Consumer Goods Industry

In this paper we evaluate the relathionship between working capital management and corporate profitability. We used a sample of 29 companies in consumer goods industry listed in the Bursa Efek Indonesia for the period of 2006 – 2008. The results of the evaluation showed that there is statistical significance between profitability, measured through gross profit, and the cash conversion cycle. Empirical findings show that NDAR, NDI, NDAP affect firm profitability negatively, while CCC affects firm profitability positively.  

scholarly journals THE EFFECTS OF WORKING CAPITAL MANAGEMENT ON THE PROFITABILITY OF NIGERIAN MANUFACTURING FIRMS

2013 ◽  
Vol 14 (3) ◽  
pp. 520-534 ◽  
Author(s):  
Omo Aregbeyen
Keyword(s):  
Stock Exchange ◽  
Manufacturing Firms ◽  
Capital Management ◽  
Working Capital ◽  
Return On Assets ◽  
Working Capital Management ◽  
Operating Income ◽  
Cash Conversion Cycle ◽  
Operating Profit ◽  
Inventory Turnover

The efficiency of working capital management (WCM) has implications for firms’profitability. This paper empirically investigates the effects of WCM on the profitability of a sample of 48 large manufacturing firms quoted on the Nigerian Stock Exchange (NSE) for the period 1993 to 2005. It is aimed at filling the gaps in a previous study and contribute to expanding and enriching the literature particularly on Nigeria and at large. The analysis examined the responses of the firms’ profitability to WCM and a number of augmenting factors. Profitability was alternatively measured by gross operating profit (GOI), net operating income (NOI) and return on assets (ROA). Likewise, WCM was measured by the average collection period (ACP), average pay period (APP), inventory turnover days (ITID) and comprehensively by the cash conversion cycle (CCC). The results indicate that the firms’ have been inefficient with WCM and caused significant reductions in profitability. The paper concludes that improving the efficiency of WCM is essential and recommends that manufacturing firms in Nigeria should shorten the ACP, APP, ITID and reduce their CCCs.

scholarly journals PENGELOLAAN MODAL KERJA PADA USAHA KECIL DAN MENENGAH DI INDONESIA

2018 ◽  
Vol 2 (02) ◽  
Author(s):  
Farah Margaretha ◽  
Arianti Dwi Hapsari
Keyword(s):  
Stock Exchange ◽  
Measuring Method ◽  
Major Influence ◽  
Working Capital ◽  
Return On Assets ◽  
Purposive Sampling ◽  
Holding Period ◽  
Cash Conversion Cycle ◽  
Accounts Payable ◽  
Inventory Holding

PENGELOLAAN MODAL KERJA PADA USAHA KECIL DAN MENENGAH DI INDONESIA Abstrak Tujuan dari penelitian ini adalah untuk memprediksi tingkat modal kerja perusahaan UKM dalam menghasilkan laba. Desain penelitian ini berlaku pada perusahaan banyak UKM yang tergabung dalam PEFINDO 25 dan tercatat di Bursa Efek Indonesia yang telah terdaftar 2009-2013. Analisis data menggunakan metode pengukuran purposive sampling. Penelitian ini menggunakan metode regresi data panel untuk melihat kontribusi setiap variabel. Hasil penelitian menunjukkan bahwa ada tiga variabel memiliki dampak yang signifikan terhadap ROA yaitu: periode perputaran persediaan, periode pengumpulan piutang, siklus konversi kas memiliki dampak negatif dan signifikan terhadap profitabilitas, sedangkan periode penangguhan hutang tidak memiliki pengaruh besar dalam mencapai keuntungan dalam perusahaan UKM yang terdaftar di index PEFINDO. Kontribusi studi ini bagi manajemen perusahaan harus mampu mengelola modal kerja secara efektif dan efisien untuk menghasilkan keuntungan yang tinggi. Kata Kunci : return on assets (ROA), inventory holding period, account receivables period, account payables period, cash conversion cycle. Abstract The objective of this research is to predict level of working capital the SME‘s company is in generating profit. The design of this research applies on many SME‘s company which joined in PEFINDO 25 and listed on the Indonesian Stock Exchange which have been listed from 2009 to 2013. Data analysis applied measuring method on purposive sampling. This study uses panel data regression method to see the contribution of each variable. The results of research indicated that there are three variables have a significant impact on ROA that are the inventory holding period, accounts receivables period, cash conversion cycle has a negative and significant impact on profitability, while accounts payable period does not have a major influence in achieving gains in SME companies listed in PEFINDO. Implications for the management of the company‘s must be able to manage its working capital effectively and efficiently to produce high profits. Keywords : return on assets (ROA), inventory holding period, account receivables period, account payables period, cash conversion cycle.

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