scholarly journals Model Trade-Off Likuiditas dan Profitabilitas dalam Manajemen Modal Kerja pada Perusahaan Ritel yang Tercatat di Bursa Efek Indonesia (BEI)

2020 ◽  
Vol 8 (1) ◽  
pp. 62-75
Author(s):  
Nourma Juwita ◽  
Heri Ispriyahadi
Keyword(s):  
Goal Programming ◽  
Programming Model ◽  
Profit Margin ◽  
Working Capital ◽  
Current Ratio ◽  
Trade Off ◽  
Turnover Ratio ◽  
Goal Programming Model ◽  
Fixed Assets ◽  
Opportunity Loss

Penelitian ini bertujuan untuk memberikan gambaran tingkat modal kerja, likuiditas, dan profitabilitas, serta mengetahui proporsi modal kerja yang efisien pada perusahaan ritel yang terdaftar di Bursa Efek Indonesia tahun 2009-2013. Aplikasi model trade-off dilakukan dengan menggunakan persamaan goal programming model yang terdiri dari rasio target dan batasan tiap variabel. Rasio target mencakup current ratio, working capital turnover ratio, fixed assets turnover ratio, dan profit margin. Variabel-variabel yang dimaksud meliputi cash, marketable securities, account receivable, inventory, current liabilities, fixed assets, sales, dan profit. Hasil penelitian menunjukkan bahwa terdapat 6 perusahaan ritel yang sudah menggunakan modal kerja secara efisien dibanding rata-rata industri, dengan menghasilkan opportunity loss bernilai negatif. Terdapat 7 perusahaan ritel masih kurang efisien dalam menggunakan modal kerjanya dengan menghasilkan opportunity loss positif. Penelitian ini juga memberikan rekomendasi terhadap masing-masing perusahaan terkait proporsi modal kerja yang sesuai dengan target industri

scholarly journals A goal programming model for working capital management

2015 ◽  
Vol 1 (1) ◽  
pp. 7-16 ◽  
Author(s):  
Mihir Dash ◽  
Rani Hanuman
Keyword(s):  
Goal Programming ◽  
Opportunity Cost ◽  
Programming Model ◽  
Capital Management ◽  
Working Capital ◽  
Working Capital Management ◽  
Goal Programming Model ◽  
Conflicting Objectives ◽  
Fixed Assets ◽  
Excess Liquidity

This paper proposes a goal programming model for working capital management.Goal programming is necessary to model the working capital decision, as a balance has to be achieved between the conflicting objectives of liquidity and profitability. The model determines, for given working capital turnover and fixed assets turnover ratios, how funds should be maintained between working capital/current assets and fixed assets to achieve targeted levels of liquidity andprofitability, whilst minimizing the opportunity cost/loss of excess liquidity.

Goal Programming Model for Optimizing Working Capital Management: Case of Tire Retreading Company

2018 ◽  
Vol 1 (2) ◽  
pp. 148-167
Author(s):  
Arunkumar O. N. ◽  
Divya D. ◽  
Tony Mathew
Keyword(s):  
Goal Programming ◽  
Programming Model ◽  
Significance Test ◽  
Capital Management ◽  
Working Capital ◽  
Return On Assets ◽  
Working Capital Management ◽  
Goal Programming Model ◽  
Past Data ◽  
Year 2013

This article discusses goal programming model for optimizing working capital management (WCM) of a tire manufacturing company. The mathematical model is run for the years 2008–2009 to 2012–2013 and values of the respective goals are taken from it. The validation for the model values with the actual values from the financial data are carried out to check the significance of the model values. The significance test is carried out in one sample t-test. It is observed that all the values got from the model are significant. The sales of the company for the year 2013–2014 is forecasted from the past data by linear regression using Microsoft Excel as a trend line. The model is used to 2analyze the values of variables of WCM for the year 2013–2014 to achieve a 30 percent return on assets (ROA) for the forecasted sales.

scholarly journals ANALYSIS OF WORKING CAPITAL AND FINANCIAL PERFORMANCE OF SHARIA BANKING INDUSTRY INMANDIRI SYARIAH BANK JAMBI

2020 ◽  
Vol 1 (5) ◽  
pp. 807-822
Author(s):  
Sumantri Sumantri ◽  
Albetris Albetris
Keyword(s):  
Financial Performance ◽  
Significant Relationship ◽  
Profit Margin ◽  
Working Capital ◽  
Current Ratio ◽  
Profit Margins ◽  
Islamic Bank ◽  
Perfect Correlation ◽  
Fixed Assets ◽  
Average Current

The purpose of this study is to find out working capital in an independent Islamic bank, the financial performance of an independent Islamic bank in Jambi by using a liquidity ratio analysis tool (current ratio, cash ratio) and profitability ratio (profit margin) and there is also a significant relationship between current ratio cash ratios and profit margins with working capital at the Islamic bank Mandiri jambi. The analytical tool used is multiple linear regression. Study the significant relationship between current ratio (X1), cash ratio (X2) profit margin (X3) as the independent variable and working capital as the dependent variable. The results of working capital analysis at the jambi independent Islamic bank have fixed assets and current assets with a total average current assets from 2016 to 2019 of Rp 88,919,015.5 and for average fixed assets from 2016 to 2019 of IDR 856,841.06. Analysis results Financial performance through liquidity ratios namely current ratio and cash ratio obtained an average current ratio from 2016 to 2019 of 115.67%, and obtained an average cash ratio from 2016 to 2019 of 1.55%. For profitability ratios namely profit margins can be obtained an average profit margin from 2016 to 2019 of 72.82% with very good criteria because it exceeds the maximum limit of the standard ratio. The test results on the relationship of the current ratio, cash ratio and profit margin with working capital obtained a person correlation current ratio of 1,000 means perfect correlation and there is a relationship between the current ratio with working capital. For cash ratio with a person correlation value of cash ratio of 1,000 means perfect correlation and there is a relationship between cash ratio and working capital. For the value of person correlation margin of 1,000 means that it means perfect correlation and there is a relationship between profit margin and working capital. It can be concluded that working capital influences the current ratio, cash ratio and profit margin.

scholarly journals A Multicriteria Goal Programming Model for Ranking Universities

Mathematics ◽  
2021 ◽  
Vol 9 (5) ◽  
pp. 459
Author(s):  
Fernando García ◽  
Francisco Guijarro ◽  
Javier Oliver
Keyword(s):  
Goal Programming ◽  
Programming Model ◽  
Decision Makers ◽  
University Rankings ◽  
Central Tendency ◽  
Performance Variables ◽  
World University Rankings ◽  
Goal Programming Model ◽  
Objective Quantification

This paper proposes the use of a goal programming model for the objective ranking of universities. This methodology has been successfully used in other areas to analyze the performance of firms by focusing on two opposite approaches: (a) one favouring those performance variables that are aligned with the central tendency of the majority of the variables used in the measurement of the performance, and (b) an alternative one that favours those different, singular, or independent performance variables. Our results are compared with the ranking proposed by two popular World University Rankings, and some insightful differences are outlined. We show how some top-performing universities occupy the best positions regardless of the approach followed by the goal programming model, hence confirming their leadership. In addition, our proposal allows for an objective quantification of the importance of each variable in the performance of universities, which could be of great interest to decision-makers.

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