ANALISIS PENGARUH MANAJEMEN MODAL KERJA, LIKUIDITAS, LEVERAGE DAN UKURAN PERUSAHAAN TERHADAP PROFITABILITAS PADA PERUSAHAAN MANUFAKTUR SEKTOR INDUSTRI BARANG KONSUMSI DI BURSA EFEK INDONESIA

Abstract

The profitability of manufacturing companies in Indonesia is influenced by a
variety of financial factors that can be measured by using financial ratios. This
research was conducted to analyze weather the working capital management, liquidity,
leverage and firm size influence on the company's profitability measured by return on
assets (ROA). The sample in this research was taken using purposive sampling method,
in order to get 29 companies manufacturing consumer goods industries listed on the
Indonesia Stock Exchange (BEI) in the year 2009-2011. The influence of independent
variables such as receivables collection period (RCP), inventory conversion period
(ICP), payable deferral period (PDP), current ratio (CR), debt ratio (DR) and the size
of the company to the return on assets was investigated using multiple linear regression
analysis method. The results showed that the variables of the receivables collection
period, inventory conversion period and firm size have negative effect on return on
assets and current ratio has positive effect on return on assets. While the payable
deferral period and debt ratio variables have no impact on return on assets.