ANALISIS FAKTOR-FAKTOR YANG MEMPENGARUHI KINERJA KEUANGAN PERUSAHAAN TELEKOMUNIKASI YANG GO PUBLIC DI BURSA EFEK INDONESIA

Abstract

This research is held to find out the following factors: current ratio, total asset turnover, working capital turnover, debt to equity ratio, debt ratio, and net profit margin toward the return on investment of the go-public telecommunication in Bursa Efek Indonesia. This research is an explanation research with descriptive statistics and inferential analysis in the form of classic assumption test and multi regression to analyze the research data. From the result of simultaneously test that current ratio, total asset turnover, working capital turnover, debt to equity ratio, debt ratio, and net profit margin had influence towards return on investment. The six independent variables can explain the dependent variables of 93,7% while the 6,3% influence by the other variable that was not include in this research. Partially, only total asset turnover and net profit margin that influence return on investment, while current ratio, working capital turnover, debt to equity ratio, debt ratio were not influence return on investment. Net profit margin was the most dominant variable that influence return on investment, because it had partial correlation value of (0,755) and t was the biggest (4,887). Telecommunication company should not only focused on company liquidity, although many investors rate the financial work from how much the liquidity value of a company, but how much company liquidity gave not good influence towards company profitability because it showed how many investor’s funds that not take advantage rightly by the company, because of that company must be optimal in using investor’s funds to make maximal return. Beside, laverage of telecommunication companies also gave not good risk towards company profitability. It also with the company activity in using asset, within the increase of company asset it should be increase in asset value or return obtained by increased asset value. The policy that telecommunication company should have was be focused in net profit margin because its influence was dominant towards financial work. Without prejudice attention to total asset turnover because to keep both of variables balance means it also can keep financial work in company.