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Jurnal Ilmu Ekonomi dan Bisnis (JUKONI)
Published by CV. Sinar Howuhowu
ISSN : -     EISSN : 30643406     DOI : https://doi.org/10.70134/jukoni
Core Subject : Economy,
Economics, Econometrics & Finance
Jurnal Ilmu Ekonomi dan Bisnis (JUKONI) menyajikan artikel-artikel penelitian di bidang ilmu ekonomi dan bisnis. Jurnal ini bertujuan untuk menjadi platform publikasi bagi akademisi, peneliti, dan praktisi yang ingin berkontribusi terhadap pengembangan teori dan praktik di sektor ekonomi dan bisnis. JUKONI berfokus pada topik-topik inovatif dan terkini yang meliputi berbagai aspek dari ilmu ekonomi dan bisnis, di antaranya: Ekonomi Makro dan Mikro Manajemen Keuangan dan Akuntansi Bisnis Internasional dan Kewirausahaan Ekonomi Perdagangan dan Pembangunan Ekonomi Digital dan Inovasi Teknologi dalam Bisnis Kebijakan Ekonomi dan Peraturan Bisnis Ekonomi Regional dan Global Strategi Bisnis dan Pemasaran Ekonomi Berkelanjutan dan Corporate Social Responsibility (CSR).
Arjuna Subject : Bisnis, Menejemen, dan Akutansi (semua kategori) - Bisnis, Menejemen, dan Akutansi (Lain-Lain)
Articles 111 Documents
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Pengaruh Cash Conversion Cycle Terhadap Return On Assets Perusahaan Makanan Dan Minuman Di Bei 2021–2025 Alfina Achma Ramadhani; Cici Kurnia Nur Cholifah; Istiono Istiono
Jurnal Ilmu Ekonomi dan Bisnis Vol. 3 No. 2 (2026): JUKONI - Juni
Publisher : CV. SINAR HOWUHOWU

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.70134/jukoni.v3i2.1692

Abstract

This study aims to analyze the effect of Cash Conversion Cycle (CCC) on Return on Assets (ROA) in food and beverage sub-sector companies listed on the Indonesia Stock Exchange for the period 2021–2025. CCC is a working capital efficiency indicator reflecting the time required for a company to convert its operational investment into cash. ROA is used as a profitability proxy as it represents the effectiveness of asset utilization. A quantitative associative approach was employed using balanced panel secondary data comprising six companies over five years, yielding 30 observations. Samples were selected through purposive sampling, including INDF, ROTI, GOOD, ULTJ, CAMP, and SKLT. Simple linear regression with classical assumption tests was applied. Results show that CCC does not significantly affect ROA (t = 1.127; p = 0.269 > 0.05) with an R² of 0.043. The regression coefficient of CCC is positive (β = 0.000256), contrary to the hypothesized negative direction. This finding suggests that profitability in food and beverage companies during the study period is more influenced by other factors beyond working capital efficiency, such as business scale, product margins, and distribution strategies. This study contributes additional empirical evidence in Indonesia on the CCC-ROA relationship in the food and beverage sub-sector.

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