ANALISIS PENGARUH EFISIENSI MODAL KERJA, LIKUIDITAS DAN SOLVABILITAS TERHADAP PROFITABILITAS (STUDI KASUS PADA INDUSTRI BARANG KONSUMSI DI BURSA EFEK INDONESIA)

Abstract

Indicators of good working capital management is the efficiency of working capital. The shorter the period of working capital turnover, the faster rotation so that the higher the turnover of working capital and more efficient company that ultimately increase profitability. In deter-mining the policy of efficient working capital, the company faced the problem of exchange (trade off) between liquidity and profitability fac-tors. If the company decided to establish working capital in large num-bers, the possibility of liquidity will be maintained but the chance to earn big profits will decline eventually decrease the profitability. The purpose of research to find out how and how much influence the effi-ciency of working capital, liquidity, profitability and solvency of either partially or simultaneously at the industrial enterprises of consumer goods that go public on the Stock Exchange in 2006 to 2009. The po-pulation in this study group of industrial consumer goods companies that go public on the Stock Exchange in the period 2006 s.d. 2009. Sam-ples studied as many as 20 companies by way of purposive sampling. The variables studied include the efficiency of working capital (WCT), li-quidity (CR), solvency (DTA) as independent variables and profitability (ROI) as the dependent variable. Data obtained through secondary data from idx and analyzed using multiple regression. Based on the research results it is recommended to management to maintain the efficiency of working capital and the company must manage the liquidity and sol-vency effectively and efficiently to generate sufficient operating in-come.