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All Journal International Journal of Organizational Behavior and Policy
Natanael Yonatan
Petra Christian University
Economics, Econometrics & Finance

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Liquidity and Profitability of Retail Companies: Evidence from Indonesia Sany Sany; Natanael Yonatan
International Journal of Organizational Behavior and Policy Vol 2 No 2 (2023): JULY 2023
Publisher : Accounting Department, School of Business and Management - Universitas Kristen Petra

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.9744/ijobp.2.2.77-86

Abstract

This study aims to examine effect of liquidity on profitability of publicly listed retail companies on the Indonesian Stock Exchange (IDX). This study uses firm size and Working Capital Management (WCM) efficiency as control variables. The sample in this study consisted of 15 publicly listed retail companies in the period of 2014-2019. All variables are measured by a ratio scale. Profitability is proxied by return on assets. Data was analyzed with panel data regression using a fixed effect model. This study shows that liquidity has a positive and significant effect on profitability when measured using the current ratio. In addition, company size has a significant positive effect on profitability. A higher composition of current assets to current liability improves profitability. On the other hand, Cash Conversion Cycle (CCC) as a proxy of WCM efficiency has a significant negative correlation with profitability. This research findings contribute to understanding of the impact of liquidity, firm size and CCC on profitability in retail industry.
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