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All Journal JURNAL BISNIS STRATEGI Jurnal Bisnis dan Manajemen Jurnal Keuangan dan Perbankan Media Ekonomi dan Manajemen Jurnal Ilmiah Mahasiswa FEB JAM : Jurnal Aplikasi Manajemen Journal of Indonesian Applied Economics Wacana, Jurnal Sosial dan Humaniora JBTI : Jurnal Bisnis : Teori dan Implementasi Jurnal Manajemen Teori dan Terapan MIX : Jurnal Ilmiah Manajemen Jurnal Manajemen dan Kewirausahaan (JMDK) Asia-Pacific Management and Business Application Jurnal Ekonomi dan Bisnis Management and Economics Journal (MEC-J) Jurnal Abdimas Mahakam Dinasti International Journal of Management Science Heart Science Journal JBMR: Journal of Business and Management Review Akuntansi Bisnis & Manajemen (ABM) SMBJ: Strategic Management Business Journal Journal of International Conference Proceedings Jurnal Manajemen Pemasaran dan Perilaku Konsumen Jurnal Management Risiko dan Keuangan Carmin: Journal of Community Service Jurnal Kewirausahaan dan Inovasi
Kusuma Ratnawati
Department Of Management, Faculty Of Economics And Business, Brawijaya University
Arts Humanities Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Education Electrical & Electronics Engineering Environmental Science Health Professions Immunology & microbiology Industrial & Manufacturing Engineering Languange, Linguistic, Communication & Media Law, Crime, Criminology & Criminal Justice Medicine & Pharmacology Public Health Social Sciences Other

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Journal : Jurnal Keuangan dan Perbankan

 1 
The Effect of Capital Working Management on the Profitability Slamet Mulyono; Djumahir Djumahir; Kusuma Ratnawati
Jurnal Keuangan dan Perbankan Vol 22, No 1 (2018): January 2018
Publisher : University of Merdeka Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26905/jkdp.v22i1.1332

Abstract

Companies must maintain the sustainability business. In order to keep their existence and competitiveness, companies must increase profitability in every year. It also applies to state fertilizer companies. However, 10 years of history (2005-2014), the state fertilizer company have been facing difficulties in maintaining business sustainability. Profitability fluctuates and tends to decrease every year. One of the causes is inefficient working capital management. The objective of this study is to determine the relationship between working capital management and corporate profitability. To ensure the absence of the influence of unexamined factors, this study uses control variables of firm size, financial leverage, and gross domestic product. This research uses a positivist paradigm with a quantitative approach and multiple regression analysis. The results of this study indicate that state fertilizer companies will be able to increase ROA by accelerating Days of Sales in Inventory and Days of Payables. Higher assets, reduce profitability, and increasing debt withdrawal, which further declines profitability. State fertilizer companies should accelerate inventory turnover and obligation payments to suppliers to minimize the risk of foreign exchange loss, considering that 80% of raw materials are still imported. In addition, state fertilizer should maintain asset quality and minimize debt withdrawal to increase profitability.JEL Classification: G02; G31DOI: https://doi.org/10.26905/jkdp.v22i1.1332
Co-Authors A. Dewantoro Marsono Achmad Helmy Djawahir Achmad Helmy Djawahir Afriani Afriani Ananda Sabil Hussein Armanu, Armanu Arta Kusuma Athifah Hanun Atim Djazuli Christin Susilowati Clara Shinta Wiryana Cokorda Agung Mahadika Damayanti, Renata Desy Eka Kartika Sari Dewantara, Prasetya Putra Djumahir . Djumahir Djumahir Djumahir Djumahir Djumilah Hadiwidjojo Djumilah Hadiwidjojo Djumilah Hadiwidjojo Djumilah Zain Edi Purwanto Edi Purwanto Efionita, Yolanda Eka Zahra Solikahan Eko Purwanto Ekromi Fraida Tsalasah Esther Novelina Hutagalung Firdaus, Ema Zahra Hanifa Bennu Nur Hanun, Athifah Hedwigh Hendrikus Temai Lejap Herdina, Ajeng Mira Humaira, Khaula Fathia Kesuma, Satrio Fajar KEWAKUMA, ANGELINE STELLA VENTARI Kurniasari, Irma Lana Emilia Gondowahjudi Lia Pranata Putri Liana, Esti luthfi abdillah M.S. Idrus Made Sudarma Mahadika, Cokorda Agung Margono Setiawan Moeljadi Moeljadi MujiLestari, Dian Muliawati, Elisa Cahya Nazzal, Ayman Ni Nyoman Suli Asmara Yanti Noermijati, Noermijati Nova Juwita Hersanti Nur Khusniyah Indrawati Nurmasari, Nuraini Desty Nushobah, Ahmad Royan Pertiwi, Nanda Purnamasari, Citra Putra, Kevin Surijanto Putri, Belinda Nursabila Putri, Rizki Ariendra Ammellia R Safiroh Febrina Reka Yusmara Mardiputra Rico Eka Wahyu Hudiwijono Riyadi, Indra Rofiaty, Rofiaty Rosyanti, Daisy Marthina Santika, IBM Shen Chien Wen Siahaan, Andriyuda Siti Aisjah Slamet Mulyono Sri Muljaningsih Sumiati Sumiati . Sumiati Sumiati Surachman Surachman Tomas Setya Wahyu Budi Ubud Salim Wahdiyat Moko Wardani, Salsabilah Herman Putri Wati, Cicik Retno ZAINUL ARIFIN Zainul Arifin Zaroug, Yousef Ali Mohamed