ANALISIS PENGELOLAAN MODAL KERJA DAN AKTIVA TETAP TERHADAP KEMAMPULABAAN

Fixed Assets ◽

Simultaneous Testing ◽

Key Word ◽

The Relationship ◽

A Company

Every business has its own different goals, but in generally the success of the business is the main goals. One of the criteria to achieve the business succes is efficiency, it is shown when a company has a high profitability. The effective and efficient working capital and fixed assets management influence the level of profitability achievement in a company.The purpose of this research is to know the effect of capital to profitability, fixed capital to profitability, and the management of working capital and fixed capital to profitability in PT. Kimia Farma Tbk dan PT. Kalbe Farma Tbk. to know the effect of that three variables.And to test the significance of the effect of working capital (NWCTO) and Fixed Capital (FATO) to profitability (NPM) in both companies, the author analyzed and measured the relationship and influence between variables using regression coefficients, correlation coefficients (r) and coefficient determination (r square). Based on the results of this study concluded that partial testing shows that inPT. Kimia Farma Working Capital Management (NWCTO) has a significant influence to Fixed Capital (FATO), and Fixed Capital (FATO) has a significant impact on profitability (NPM). Simultaneous testing shows that working capital (NWCTO) and Fixed Capital (FATO) has a significant impact to profitability (NPM). Meanwhile, partial testing shows that in PT. Kalbe Farma Tbk. Working Capital Management (NWCTO) does not have a significant effect to Fixed Capital (FATO) and for Fixed Capital (FATO) does not have a significant impact on profitability (NPM). ). Simultaneous testing shows that working capital (NWCTO) and Fixed Capital (FATO) does not have a significant impact to profitability (NPM).Key word :working capital management, fixed capital, profitability.

A Study on Working capital Management in Hindustan Petroleum Corporation Limited

Asian Journal of Management ◽

10.52711/2321-5763.2021.00025 ◽

2021 ◽

pp. 164-168

Author(s):

Sruthi B ◽

Rashmi R

Keyword(s):

Annual Report ◽

Pearson Correlation ◽

Secondary Data ◽

Effective Management ◽

Capital Management ◽

Working Capital ◽

Short Term ◽

The Past ◽

Working capital management is important for every organization as it refers to the effective management of current assets and current liabilities. The aim is to make sure that the firm is capable to continue its operations and it has sufficient cash flow to satisfy both maturing short-term debt and upcoming operational expenses. In this paper, an attempt has been made to study the management of working capital in Hindustan Petroleum Corporation Limited, a leading public sector enterprise in India over a period of 10 years (That is from 2009-10 to 2018-19). The paper also attempts to study the components of working capital and analyze the relationship between liquidity and profitability of HPCL. The study is based on secondary data collected from annual report of HPCL for the past 10 years, Pearson correlation and regression model are used for this purpose. From the study it is found that there is a significant relationship between liquidity and profitability.

Impact of working capital management on profitability: Evidence from Pakistan oil sector

International Journal of Accounting and Financial Reporting ◽

10.5296/ijafr.v5i1.7825 ◽

2015 ◽

Vol 1 (1) ◽

pp. 286

Author(s):

M.Yousaf Raza ◽

Muhammad Bashir ◽

Khalid Latif ◽

Touqeer Sultan Shah ◽

Mushtaq Ahmed

Keyword(s):

Financial Management ◽

Capital Budgeting ◽

Capital Management ◽

Working Capital ◽

Operating Profit ◽

Work In Process ◽

Fixed Assets ◽

Oil Sector ◽

The Impact

This study explores the impact of working capital management on the profitability of the firms in the oil sector of Pakistan. For the purpose of testing this relationship data from the annual reports of the sample companies is used from the period 2006 to 2010. Cash conversion cycles (CCC), average receivable, Average inventory, average payable, and current ratio are used as a measure of working capital management, while gross operating profit is used as a measure of profitability of the firm. There are three major issues in financial management that are capital budgeting, capital structure, and working capital management. So working capital management is one of the three major issues in financial management. A commercial firm consists of two types of assets, which are fixed assets and current assets. Current assets of a firm consist of cash, bank balance, account receivable, raw material, work in process, and finished goods. While fixed assets of the business require capital expenditure and these are used in increasing the production of the business, the Current assets are used in utilizing the fixed assets in day to day transactions. Hence Current assets are regarded as lifeblood for any business firm, the play vital role in the daily operations of the business. Current assets and current liabilities regarded as are very important component of total assets and they need to be carefully managed for the long term success of the business. In this paper working capital management provide us profit by using average payable and gross operating profit but other variables in hypothesis shows negative relationships with each other.

The Moderating Impact of Firm Size on the Relationship between Working Capital Management and Profitability

Prague Economic Papers ◽

10.18267/j.pep.681 ◽

2019 ◽

Vol 28 (3) ◽

pp. 296-312 ◽

Cited By ~ 2

Author(s):

Ilhan Dalci ◽

Cem Tanova ◽

Hasan Ozyapici ◽

Murad A. Bein

Keyword(s):

Firm Size ◽

Capital Management ◽

Working Capital ◽

Working Capital Management Practices

International Journal of Recent Technology and Engineering - 2 ◽

10.35940/ijrte.b1337.0882s819 ◽

2019 ◽

Vol 8 (2S8) ◽

pp. 156-161

Keyword(s):

Management Practices ◽

Secondary Data ◽

Project Work ◽

Capital Management ◽

Working Capital ◽

Short Term ◽

Good Opportunity ◽

Money Flow ◽

VJ Engineers is one of the popular organizations in Chennai. Seeing the good opportunity to study financial systems and practices of VJ Engineers, it is relatively important to take up assignment on ‘WORKING CAPITAL MANAGEMENT IN VJ ENGINEERS’. During the project work, it is being analyzed the working capital position of this organization. [1],[ 3],[5] Decisions relating to working capital and short term financing are referred to as working capital management. These involve managing the relationship between a firm's short-term assets and its short-term liabilities. The goal of Working capital management is to ensure that the firm is able to continue its operations and that it has sufficient money flow to satisfy both maturing short-term debt and upcoming operational expenses.The study of working capital management is very helpful for the organisation to know its liquidity position. The study is relevant to the organization to know the day to day expenditure. This study is relevant to give an idea to utilise the current assets.This study is also relevant to the student as they can use it as a reference. This report will help in conducting further research. Other researcher can use this project as secondary data uncovering of PDA incorporation in effects on police reports.

Manajemen Modal Kerja Dan Dampaknya Terhadap Nilai Perusahaan Dengan Corporate Governance Sebagai Variabel Pemoderasi

AKRUAL Jurnal Akuntansi ◽

10.26740/jaj.v6n1.p68-84 ◽

2014 ◽

Vol 6 (1) ◽

pp. 68

Author(s):

Adrianus Dhimas Setyanto ◽

Ika Permatasari

Keyword(s):

Corporate Governance ◽

Firm Value ◽

Stock Exchange ◽

Capital Management ◽

Working Capital ◽

Corporate Values ◽

Enterprise Value ◽

Cash Conversion Cycle ◽

AbstractThis study aims to determine the effect of working capital management on firm value. Corporate governance is used as a moderating variable in this study to explore the role of corporate governance in the relationship between working capital management with corporate values. Program participants of Corporate Governance Perception Index (CGPI) are used as a sample during the period from 2003 to 2011 and listed on the Indonesian Stock Exchange (IDX). We were using simple linear regression and the testing of moderating effects were calculated by Moderated Regression Analysis (MRA). The results showed that the working capital management has an influence on the value of the firm. However, corporate governance variables failed to moderate the relationship between working capital management and enterprise value. It shows that companies and investors in the market still lack concern for the program response and Corporate Governance Perception Index (CGPI) as an assessment of the application of the principles of corporate governance that has been done by the company .Keywords: Working Capital Management, Cash Conversion Cycle, Corporate Governance, Firm Values

Impact of Loan Accessibility on Working Capital Management and Profitability: Comparative Study of Family Versus Non-Family Firms

Global Social Sciences Review ◽

10.31703/gssr.2020(v-i).23 ◽

2020 ◽

Vol V (I) ◽

pp. 220-230

Author(s):

Kanwal Iqbal Khan ◽

Adeel Nasir ◽

Aniqa Arslan

Keyword(s):

Comparative Analysis ◽

Family Firms ◽

Investment Decisions ◽

Sustainable Growth ◽

Capital Management ◽

Working Capital ◽

Financial Cost ◽

Capital Rationing ◽

This study is conducted to identify the direction of the relationship between working capital management (WCM) and firm performance of the non-financial sector of Pakistan from 2009 till 2018. This has also looked at the effect of restricted access to loan on the WCM- Profitability relationship. The findings confirmed that restricted loan accessibility impacts the WCM-Profitability relationship. The comparative analysis demonstrated that financially constrained firms are mostly non-family firms that are new, growing, smaller in size, face high risk, maintain high liquidity and tangibility ratios than non-constrained firms. Further, the working capital levels of financially constraint firms is lower because of high operating expenses and greater capital rationing. Managers and scholars may use these findings for the administration of their working capital policies in order to avoid the financial cost and create more opportunities for financial accessibility which is further beneficial for making informed investment decisions, yielding higher profits that contribute towards sustainable growth.