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THE EFFECT OF WORKING CAPITAL, WORKING CAPITAL TURNOVER AND THE COMPANY'S SCALE TO THE PROFITABILITY OF AUTOMOTIVE COMPANIES IN INDONESIA Estuti Fitri Hartini; Windarti - -
Jurnal Pengembangan Wiraswasta Vol 21, No 3 (2019): JPW Edisi Desember 2019
Publisher : LP2M Sekolah Tinggi Ilmu Ekonomi IPWI Jakarta

The working capital, working capital turnover, and company scale are numbers of factors that are thought to be relatively large in influencing profitability in automotive companies on the Indonesia Stock Exchange in 2013-2017. To prove the influence of all three, this research was conducted with the aim to determine the effect of working capital, working capital turnover and company scale on profitability in automotive companies listed on the Indonesia Stock Exchange in 2013-2017. The study was conducted by taking data at www.idx.co.id by taking 6 automotive companies as a sample of a total population of 12 automotive companies at a 5% error margin. The research was conducted quantitatively, namely by describing the research data and conducting inference analysis. Multiple regression analysis is used as an analysis tool while hypothesis testing is done by t-test. The research concludes working capital has a significant influence on profitability; Working capital turnover does not have a significant effect on profitability; company scale does not have a significant effect on profitability. Keywords: Working Capital, Working Capital Turnover, Company Scale, Profitability

KEMAMPULABAAN PERUSAHAAN BERDASARKAN EFISIENSI MODAL KERJA, PERTUMBUHAN PENJUALAN, DAN UKURAN PADA PERUSAHAAN "MAKANAN DAN MINUMAN" Estuti Fitri Hartini; Sopiyatul Badriyah
Jurnal Pengembangan Wiraswasta Vol 22, No 01 (2020): JPW Edisi April 2020
Publisher : LP2M Sekolah Tinggi Ilmu Ekonomi IPWI Jakarta

The Profitability of food and beverage manufacturing companies is suspected to be due to the influence of efficiency of working capital, sales growth, even company size. Proof of this need to be carried out research which is the objective in analyzing profitability that is influenced by the efficiency of working capital and growth of sales, as well as company size in the Indonesian food and beverage sub-sector manufacturing companies in the 2015-2017 period. The research data was taken from www.idx.co.id as many as 15 companies as a sample of 21 populations. A causal study with a quantitative approach, multiple regression as an analysis tool, t-test as hypothesis testing. Explanation of results, the efficiency of working capital as a factor influencing profitability; sales growth is not as affecting profitability; company size is not an influencing factor of profitability.Keywords: Profitability, working capital efficiency, sales growth, and company size. ABSTRAKKemampulabaan perusahaan manufaktur makanan dan minuman diduga atas pengaruh efisiensi dari modal kerja, pertumbuhan penjualan, bahkan ukuran perusahaan perusahaan. Pembuktian hal tersebut perlu dilakukan penelitian yang merupakan tujuan dalam menganalisis kemampulabaan yang dipengaruhi efisiensi dari modal kerja dan pertumbuhan dari penjualan, serta ukuran perusahaan pada perusahaan manufaktur sub sector makanan dan minuman Indonesia periode 2015-2017. Data penelitian diambil dari www.idx.co.id sebanyak 15 perusahaan sebagai sampel dari 21 populasi. Merupakan penelitian kausal dengan pendekatan kuantiatif, regresi berganda sebagai alat analisis, uji t sebagi pengujian hipotesis. Penjelasan hasil, efisiensi dari modal kerja sebagai faktor pemberi pengaruh atas kemampulabaan; pertumbuhan penjualan tidak sebagai yang mempengaruhi profitabilitas; ukuran perusahaan bukan merupakan faktor pengaruh dari profitabilitas.Kata kunci: Kemampulabaan, efisiensi dari modal kerja, dan pertumbuhan penjualan, serta ukuran perusahaan.

PENGARUH RETURN ON ASSET DAN RETURN ON EQUITY TERHADAP RETURN SAHAM EMITEN LQ45 Firda Apriliani; Estuti Fitri Hartini
Jurnal Pengembangan Wiraswasta Vol 18, No 3 (2016): JPW Edisi Desember 2016
Publisher : LP2M Sekolah Tinggi Ilmu Ekonomi IPWI Jakarta

Return on Asset (ROA) dan Return on Equity (ROE) merupakan dua dari beberapa faktor yang diduga relatif besar dalam mempengaruhi Return Saham. Untuk membuktikan pengaruh keduanya maka dilakukan penelitian ini dengan tujuan untuk mengetahui pengaruh Return on Asset (ROA) dan Return on Equity (ROE) terhadap Return Saham Emiten LQ45.Perumusan masalah ini, yaitu apakah terdapat pengaruh Return on Asset (ROA) terhadap Return Saham Emiten LQ45; apakah terdapat pengaruh Return on Equity (ROE) terhadap Return Saham Emiten LQ45; dan Apakah terdapat pengaruh Return on Asset (ROA) dan Return on Equity (ROE) secara simultan terhadap Return Saham Emiten LQ45.Penelitian dilakukan di Bursa Efek Indonesia (BEI) dengan mengambil 45 sampel. Ke 45 sampel ini merupakan perusahaan yang mengeluarkan laporan keuangan tahunan secara berturut-turut, laporan keuangan berakhir pada 31 Desember, dan mencantumkan harga saham terakhir (Closing Price) dan terdaftar di Bursa Efek Indonesia (BEI). Pengambilan data dilakukan dengan menggunakan data sekunder berupa laporan audit keuangan perusahaan yang dapat diambil melalui website (www.idx.co.id). Penelitian dilakukan secara kuantitatif yaitu dengan mendeskripsikan data penelitian dan melakukan analisis inferensi. Analisis regresi linier ganda dan koefisien determinasi digunakan sebagai alat analisis sedangkan pengujian hipotesis dilakukan dengan Uji T dan Uji F.Hasil penelitian ini menghasilkan persamaan regresi Y = 24,684 â€“ 0,825 X1 + 0,697 X2. Penelitian menghasilkan tiga temuan utama, yaitu: 1) Return on Asset (ROA) tidak mempunyai pengaruh yang signifikan terhadap Return Saham; 2) Return on Equity (ROE) mempunyai pengaruh yang signifikan terhadap Return Saham; 3) Return on Asset (ROA) dan Return on Equity (ROE) secara simultan tidak mempunyai pengaruh yang signifikan sebesar 12,9% terhadap Return Saham sedangkan sisanya 87,1% dipengaruhi oleh faktor lain yang tidak diteliti dalam penelitian ini.Â Kata kunci:Return on Asset, Return on Equity, Return Saham

EFFECT OF CAPITAL STRUCTURE, SIZE OF COMPANY, WORKING CAPITAL TO THE PERFORMANCE OF THE COMPANY AND ITS IMPACT ON THE VALUE OF THE COMPANY Estuti Fitri Hartini; Susanti Widhiastuti
Jurnal Manajemen Kewirausahaan Vol 14, No 2 (2017): JMK EDISI DESEMBER 2017
Publisher : Sekolah Tinggi Ilmu Ekonimi IPWI Jakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33370/jmk.v14i2.61

The capital structure is very important to finance the company so that its management can run well and have an impact on the increase of income and capital structure that optimizes the balance between risk and return rate maximizing the stock price of the company. Corporate value can also be influenced by the company's performance profitability, which in this study proxied by sales growth and working capital proxied by the amount of inventory. The growth of sales will determine the extent to on how the company can maintain its profitability in accordance with the company's expectations and the amount of inventory as a current asset to maintain the liquidity of the company that impacts on rising corporate value. Weston and Coveland (1992) define profitability as the extent to on how the firms generate profits from sales and corporate investments.The purpose of this research is to analyze the influence of capital structure on company performance; to analyze the effect of firm size on company performance; to analyze the effect of Working Capital on Corporate Performance; to analyze the effect of Capital Structure directly on Corporate Value; to analyze the effect of Company Size directly on Corporate Value; to analyze the effect of Working Capital directly on Corporate Value; to analyze the effect of the Company's Performance on Corporate Value.This research is based on the type of quantitative research, and path analysis method used to test the effect of exogenous variables on endogen, using SPSS version 16 software.Result of research, Capital structure has no significant effect on company performance; Company size has a significant effect on company performance; Working capital has significant effect on company performance; Capital Structure has no significant effect on company value; The size of the firm has no significant effect on firm value; Working capital has a significant positive effect on company value; Company performance has no significant effect on company value.Â Keywords: Capital Structure, Company Size, Working Capital, Corporate Performance, Corporate Value.

PREDIKSI PROFITABILITAS MELALUI MODAL KERJA DAN UKURAN PERUSAHAAN PADA PERUSAHAAN MAKANAN DAN MINUMAN Desy Rahayu Kurnia; Estuti Fitri Hartini
Jurnal Manajemen Kewirausahaan Vol 18, No 1 (2021): JMK EDISI JUNI 2021
Publisher : Sekolah Tinggi Ilmu Ekonimi IPWI Jakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33370/jmk.v18i1.510

Penelitian ini dilakukan di perusahaan manufaktur sub sektor makanan dan minuman yang terdaftar di Bursa Efek Indonesia periode 2015-2018. Metode penelitian ini menggunakan 15 perusahaan manufaktur sub sektor makanan dan minuman. Dalam penelitian ini menggunakan data sekunder yang diperoleh dengan cara mengunduh laporan keuangan yang telah dipublikasikan di www.idx.co.id. Data sekunder yang diajukan dalam penelitian ini adalah data time series. Teknik sampling yang digunakan dalam penelitian ini yaitu teknik purposive sampling dan didapat sebanyak 15 perusahaan sepanjang 4 (empat) tahun dengan total 60 data penelitian. Metode analisis yang digunakan dalam penelitian ini yaitu uji asumsi klasik yang terdiri dari uji normalitas, uji multikolonieritas, uji autokorelasi, uji koefisien determinasi (R2), dan pengujian hipotesis pada penelitian ini menggunakan uji t-test, uji kelayakan model (uji F), dan uji analisis regresi berganda. Hasil penelitian ini menunjukan bahwa modal kerja tidak berpengaruh terhadap profitabilitas pada perusahaan makanan dan minuman yang terdaftar di Bursa Efek Indonesia. Ukuran perusahaan berpengaruh terhadap profitabilitas pada perusahaan makanan dan minuman yang terdaftar di Bursa Efek Indonesia. Kata kunci: modal kerja, profitabilitas, ukuran perusahaan This research was conducted in the food and beverage sub-sector manufacturing companies listed on the Indonesia Stock Exchange in the 2015-2018 period. This research method uses 15 food and beverage sub-sector manufacturing companies. In this study using secondary data obtained by downloading financial reports that have been published on www.idx.co.id. Secondary data proposed in this study is time series data. The sampling technique used in this study is purposive sampling technique and obtained as many as 15 companies for 4 (four) years with a total of 60 observational data. The analytical method used in this study is the classic assumption test which consists of the normality test, the multicollonierity test, the autocorrelation test, the coefficient of determination test (R2), and the hypothesis testing in this study using the t-test, the model feasibility test (F Test), and multiple regression analysis test. The results of this study indicate that working capital has no effect on profitability on food and beverage companies listed on the Indonesia Stock Exchange. The size of the company affects the profitability of food and beverage companies listed on the Indonesia Stock Exchange. Keywords: firm size, profitability, working capital

PENGARUH KINERJA KEUANGAN TERHADAP HARGA SAHAM PERUSAHAAN FOOD AND BEVERAGES YANG TERDAFTAR DI BURSA EFEK INDONESIA Estuti Fitri Hartini; Kartika Hernapuri Rosadi
Jurnal Manajemen Kewirausahaan Vol 15, No 2 (2018): JMK EDISI DESEMBER 2018
Publisher : Sekolah Tinggi Ilmu Ekonimi IPWI Jakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33370/jmk.v15i2.222

This research is meant to find out the influence of Price Earnings Ratio, Return on Equity, Debt to Equity Ratio, and Current Ratio to the stock price of food and beverages companies which are listed in Indonesia Stock Exchange in 2010-2014 periods. The samples of this research are food and beverages company that being active are traded and listed in Indonesia Stock Exchange 2013-2017. Moreover, it is chosen by purposive sampling whereas it is based on some criteria. The analysis method used to test on the research hypothesis is regression. The result shows that Price Earnings Ratio (PER) have influence significant to the stock price with positif away, Return on Equity (ROE) have influence to significant the stock price with positif away, Debt to Equity Ratio (DER) is not signifcant to the stock price, and Current Ratio (CR) is not signifcant to the stock price. Kata Kunci: PER, ROE, DER, CR, Stock Price

Mencapai Return Saham Optimal Menggunakan Analisis Teknikal Hans Christian; Estuti Fitri Hartini; Jayadi Jayadi; Eka Giovana Asti
Jurnal Pengembangan Wiraswasta Vol 24, No 1 (2022): JPW Edisi April 2022
Publisher : LP2M Sekolah Tinggi Ilmu Ekonomi IPWI Jakarta

Saham merupakan instrumen investasi yang banyak diminati saat pemulihan ekonomi pasca pandemi covid-19. Pengetahuan akan analisis teknikal sama pentingnya dengan analisis fundamental dalam rangka manajemen resiko berinvestasi. Penelitian ini bertujuan untuk mengetahui keandalan indikator analisis teknikal (MA, SO, MACD) dalam memberikan return optimal. Jenis penelitian adalah kualitatif dengan metode deskriptif serta desain penelitian menggunakan data sekunder yaitu indeks LQ45 yang listing di BEI. Hasil penelitian menunjukan Stochastic Oscillator paling andal dalam memberikan keuntungan.Stocks are an investment instrument that is in great demand during the economic recovery after the COVID-19 pandemic. Knowledge of technical analysis is as important as fundamental analysis in the context of investment risk management. This study aims to determine the indicators of technical analysis (MA, SO, MACD) in providing optimal returns. This type of qualitative research with descriptive methods and research design using secondary data, namely the LQ45 index listed on the IDX. The results of the study show that Stochastic Oscillator is the most reliable to giving profitability.

ROA, ROE, NPM dan Pertumbuhan Laba Perusahaan Makanan Minuman Sebelum dan Saat Pandemi Covid-19: ROA, ROE, NPM and Profit Growth of Food and Beverages Companies Before and During the Covid-19 Pandemic Estuti Fitri Hartini; Jayadi Jayadi; Husnaini Husnaini; Bibiana Dafrosa Pea
MASTER: Jurnal Manajemen Strategik Kewirausahaan Vol. 3 No. 1 (2023): MASTER: Jan 2023
Publisher : LPPM Universitas Pelita Bangsa

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37366/master.v3i1.575

Perubahan ekonomi akibat Covid-19 efek ke berbagai sektor antara lain turunnya konsumsi atau daya beli rumah tangga yang menjadi andalan sebesar 60 persen terhadap ekonomi, dan mempengaruhi kinerja keuangan. Penelitian ini untuk membandingkan Return on Assets (ROA), Return on Equity (ROE), Net Profit Margin (NPM) dan Pertumbahan Laba perusahaan sebelum dan selama pandemi Covid-19. Data penelitian berupa data sekunder dari laporan keuangan, diambil dari www.idx.co.id. Penelitian memperoleh hasil tidak adanya perbedaan ROA, ROE, NPM dan Pertumbuhan Laba Perusahaan makanan dan minuman di BEI atara sebelum dan selama pandemi Covid-19. Economic changes due to Covid-19 have had effects on various sectors, including reduced household consumption or purchasing power, which is a mainstay of 60 percent of the economy, and has affected financial performance. Research to determine Return on Assets (ROA), Return on Equity (ROE), Net Profit Margin (NPM) and Profit Growth foord and beverage company before and during the Covid-19 pandemic. Secondary data sets from financial reports, taken from www.idx.co.id. This study obtained the results that there was no significant difference in ROA, ROE, NPM and profit growth of food and beverage companies.

PERBANDINGAN KINERJA SEKTOR MANUFAKTUR BARANG KONSUMSI SEBELUM DAN SELAMA PANDEMI Susilawati Susilawati; Estuti Fitri Hartini; Sunarso Sunarso; Karno Karno; Dewi Listiorini
Aliansi : Jurnal Manajemen dan Bisnis Vol 18, No 1 (2023): ALIANSI : Jurnal Manajemen dan Bisnis
Publisher : Sekolah Tinggi Manajemen IMMI Jakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.46975/aliansi.v18i1.470

Penelitian ini memiliki tujuan untuk menguji kinerja industri dalam hal perbedaan biaya produksi, penjualan, dan laba perusahaan sebelum dan selama pandemi COVID-19. Populasi yang diteliti adalah perusahaan manufaktur sektor industri barang konsumsi yang terdaftar di Bursa Efek Indonesia dan menerbitkan laporan keuangan untuk periode 2017-2020. Teknik pengambilan sampel yang digunakan adalah purposive sampling. Data sekunder diperoleh dari laporan keuangan tahunan perusahaan. Metode analisis data panel digunakan dalam penelitian ini dengan bantuan perangkat lunak SPSS Versi 18 dan Microsoft Excel 2007.Hasil penelitian menunjukkan bahwa uji hipotesis mengenai biaya produksi, penjualan, dan laba bersih memiliki nilai signifikansi. Uji komparasi biaya produksi menunjukkan nilai signifikansi sebesar 0,285, yang berarti tidak terdapat perbedaan signifikan dalam biaya produksi sebelum dan selama pandemi COVID-19. Namun, uji komparasi penjualan menunjukkan nilai signifikansi sebesar 0,0000, mengindikasikan adanya perbedaan signifikan dalam penjualan sebelum dan selama pandemi COVID-19. Begitu pula, uji komparasi laba bersih menunjukkan nilai signifikansi sebesar 0,0006, yang menunjukkan adanya perbedaan signifikan dalam laba bersih sebelum dan selama pandemi COVID-19.

Impact of liquidity, asset structure, and business risk on capital structure of automotive and component companies Hartini, Estuti Fitri; Nuswandari, Inti; Wibowo, Edi; Yulianingsih, Amika; Mutakin, Agus Jenal
Indonesian Journal of Business, Accounting and Management Vol. 6 No. 2 (2023)
Publisher : Sekolah Tinggi Ilmu Ekonomi Indonesia Jakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.36406/ijbam.v6i02.974.150

This study aims to examine how liquidity, asset structure, and business risk impact capital structure. The study focuses on Automotive and Component companies listed on the Indonesia Stock Exchange (IDX) during the observation period of 2015-2019. The sample selection method employed in this study is purposive sampling. We selected a sample of 12 companies from the Indonesia Stock Exchange website (https://www.idx.co.id/). The study employed secondary data obtained from the financial statements of the companies. Multiple linear regression was used as the data analysis technique. The study's results indicate that capital structure is negatively and significantly influenced by liquidity. Additionally, asset structure has a negative and significant effect on the capital structure, and business risk has a negative and significant effect on the capital structure. Note: This article serves as a restored version of the original content following a corruption incident. The Digital Object Identifier (DOI) has been successfully re-registered and reactivated to ensure continued accessibility and citation integrity.

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