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All Journal Jurnal Aplikasi Bisnis dan Manajemen (JABM) E-Journal Jurnal Ilmiah Manajemen Kesatuan
Siti Rosa Lismawati
Unknown Affiliation
Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Social Sciences

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Impact of Receivables Turnover and Collection Period on Manufacturing Profitability in Indonesia Fenty Fauziah; Siti Rosa Lismawati; Nur Hanisfatin Rushami Zien
Jurnal Ilmiah Manajemen Kesatuan Vol. 13 No. 2 (2025): JIMKES Edisi Maret 2025
Publisher : LPPM Institut Bisnis dan Informatika Kesatuan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37641/jimkes.v13i2.3166

Abstract

The COVID-19 pandemic has profoundly disrupted the global economy, leading to unprecedented challenges and shifts in economic dynamics. Motivated by the economic disruptions caused by the COVID-19 pandemic, the research explores how these companies managed credit sales and collections amidst heightened financial instability. Employing a quantitative approach with panel data from 152 randomly selected firms, the study uses multiple linear regression analysis to assess the relationship between receivables turnover, average collection period, and profitability (measured by Return on Assets). Results reveal that receivables turnover has a significant positive effect on profitability, while the average collection period exerts a significant negative impact. Moreover, both variables jointly influence profitability, though their combined explanatory power is moderate. The findings highlight the importance of efficient receivables management in enhancing financial performance, especially during periods of economic volatility. Companies must prioritize efficient credit and collection policies to shorten the receivables cycle without sacrificing sales growth.
Strategic Credit Policy Adjustments During Economic Shocks: Lessons From Indonesia’s Manufacturing Sector Fauziah, Fenty; Siti Rosa Lismawati; Nur Hanisfatin Rushami Zien
Jurnal Aplikasi Bisnis dan Manajemen Vol. 11 No. 3 (2025): JABM Vol. 11 No. 3, September 2025
Publisher : School of Business, Bogor Agricultural University (SB-IPB)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.17358/jabm.11.3.894

Abstract

Background: Receivables management is a critical component of working capital strategy, particularly during periods of economic disruption. The COVID-19 pandemic posed liquidity challenges for manufacturing firms, testing the balance between RTO, ACP, and profitability.Purpose: This study investigates the effects of Receivables Turnover (RTO) and Average Collection Period (ACP) on the profitability of manufacturing firms in Indonesia, measured by Return on Assets (ROA), during the COVID-19 crisis and post-pandemic recovery.Design/methodology/approach: Using panel data from 167 manufacturing companies listed on the Indonesia Stock Exchange (IDX) between 2018 and 2023, this research applies panel data regression to analyze the relationship between receivables indicators and firm profitability.Findings/Results: The analysis shows that higher RTO is positively associated with ROA, indicating enhanced profitability through efficient cash recovery. Conversely, longer ACP negatively impacts ROA. However, in 2020, firms strategically extended ACP to support customer relationships, which, while reducing short-term returns, improved performance in the recovery years.Conclusion: Credit policies serve a dual function: enhancing liquidity and fostering customer retention. Flexible receivables strategies can buffer firms during crises and position them for post-crisis resilience.Originality/value (State of the art): This study offers timely insights into how receivables management can be leveraged as a strategic response to economic shocks in emerging markets. Keywords: profitability, receivables turnover, average collection period, credit policy, economic shocks
Co-Authors Fenty Fauziah Nur Hanisfatin Rushami Zien