Capital Turnover Ratio Research Articles

Possibilities to increase the Economic Efficiency of the Intensification of the Production of Animal Husbandry Products at the CJSC “Tokhmakayan” of the Askeran Region of the Republic of Artsakh

Key words: intensity level, cost of gross product, output of gross product, profit, labor costs, stock ratio, working capital turnover ratio, feeding ration For the effective organization of production, the study of the climatic conditions of the region is of great importance. The latter makes it possible to choose the activities of the areas corresponding to those conditions, for which there are the most favorable conditions. Therefore, in the article, we have given a brief description of the cattle station of Askeran region. In the article, we presented the company’s production resource potential, the main indicators of production and economic activity. Since land is the main means of cultivation in agriculture, we have presented the composition and structure of the company’s land fund and investigated the purpose of its use. While raising the issues of intensification, we could not but touch on the composition and structure of fixed and circulating assets. Therefore, we have presented the existing fixed and working capital of the company, their composition and structure and the level of use. We have made appropriate calculations and analysis regarding the indicators related to the effectiveness of the use of fixed and working capital. In the article, we have presented the labor and household resources available to the enterprise, the indicators of the possible use of the annual fund of working time, the wage fund, the average monthly wage, on which we have made relevant analyses. Intensification includes all the most important economic aspects of the organization and has a direct impact on the final production results. Intensification indicators should be as complete as possible and should accurately reflect the actual state of production, the level of development and the degree of intensity.

Efficiency of Working Capital Use at PT Industri Jamu Dan Farmasi Sido Muncul, Tbk in 2019-2021

This study aims to determine the efficiency of working capital use at PT Industri Jamu dan Farmasi Sido Muncul, Tbk in 2019-2021. This research uses a descriptive method with a quantitative approach. Data collection by using secondary data document methods. The data analysis method used is by calculating the ratio of working capital turnover, receivables turnover and inventory turnover. The results showed that the efficiency of using working capital of PT Industri Jamu dan Farmasi Sido Muncul during 2019-2021 in terms of the ratio of working capital turnover, receivables and inventory was included in the less efficient criteria. The working capital turnover ratio shows that the turnover frequency is less than the efficiency standard of industrial enterprises, which is 6 times the turnover. The receivables turnover ratio shows an average frequency below the efficiency standard of 15 times and the average life of receivables can be collected much longer than the standard life of receivables which is 25 days, while inventory turnover shows a turnover frequency result of less than the standard efficiency of 20 times with the average life of inventory can be sold much longer than the standard inventory life of 19 days.

Impact of working capital ratios on profitability in selected four-wheeler automobile companies

Purpose: The purpose of this study is to assess whether or not working capital ratios have an impact on the profitability of selected four-wheeler automobile companies.
 Design/methodology/approach: To assess the working capital management ratios on profitability in selected four-wheel automobile companies, the author applied the coefficient of correlation, correlation matrix, and multiple regression analysis methodology in selected four-wheel automobile companies listed on the CMIE prowess and secondary data considered also in annual reports. Ten passenger car manufacturing companies were selected for the period between 2011–12 to 2020–21, to choose a sample from the universe for research purposes., the purposive (judgmental) selection method is preferred for secondary data. Six different working capital component ratios (current ratio (CR), liquidity ratio (LR) are moderate ratios, working capital turnover ratio (WCTR), inventory turnover ratio (ITR), receivables turnover ratio (RTR), and cash turnover ratio (CTR)) are independent ratios have been measured for their impact on profitability using the coefficient of correlation and regression. Profit before tax to asset ratio (PBT/Total assets (dependent ratio).
 Findings: The study found that Working capital ratios (CR, QR, WCTR, ITR, RTR, and CTR) are positively correlated with profitability ratios. Of the six working capital component ratios, five of them are significant at a 5-percentage level, except cash turnover ratios.
 Contribution/Originality: Managers at four-wheeler companies need to improve the efficiency and effectiveness of the firm's financial management to avoid working capital ratios that put the company in jeopardy. To help with investing decisions, it may be used as a benchmark of firms who have demonstrated strong financial success.

THE ANALYSIS OF THE ASSOCIATION OF THE MATURITY LEVEL OF A PROCESS-ORIENTED ORGANIZATION AND ACTIVITY INDICATORS

<p>This research analyzes the relationship between the maturity level of a process-oriented organization and the enterprise activity indicators. The aim of the research is to determine whether there is a statistically significant influence of the maturity level of a process-oriented organization on activity indicators. In this empirical research, a case study was used, and the research is conducted in an organization that has been process-oriented for a long period and has reached a high level of maturity. Concerning the enterprise’s activity indicators, the following were analyzed: business asset turnover ratio, fixed asset turnover ratio, capital turnover ratio, current asset turnover ratio, inventory turnover ratio and accounts receivable turnover ratio. The methods used in the research include descriptive statistics and Spearman's correlation test. It is expected that the results of the research will give insight into how significant the level of maturity of a process-oriented organization is on activity indicators.</p>

Pengaruh Perputaran Modal Kerja, Leverage dan Pertumbuhan Penjualan Terhadap Profitabilas Pada Perusahaan Sektor Perdagangan Besar Yang Terdaftar Di Bursa Efek Indonesia Pada Tahun 2019-2021

The purpose of this observation is to analyze Working Capital Turnover, Leverage and Growth Ratio on Profitability in the big trading companies (wholesale) listed on Indonesia stock exchange 2019 – 2021. This study is uses secondary data with a 40 population of the big trading companies (wholesale) based on Indonesia stock exchange 2019 – 2021. The technique used is descriptive statistical test, classical assumption test. Another trials hypothesis testing which includes multiple linear regression test. The results of the multiple linear regression test showed that the working capital turnover variable had no effect on profitability, while leverage and sales growth had a significant effect on profitability. Moreover, the adjusted R square value of 0.297 means that working capital turnover, leverage and sales growth contribute 29.7% to the value of the trading companies (wholesale) based on the Indonesia Stock Exchange in 2019-2021, while the remaining 71.3% is explained by other variables outside the model studied. Keywords: Profitability, Working Capital Turnover, Leverage, and Growth Ratio

The Effect of Working Capital Turnover, Cash Turnover and Current Ratio, on Capital Structure, Through the Net Profit Margin of Basic and Chemical Industry Companies Listed on the Indonesia Stock Exchange in the 2017-2019 Period

The Effect of Working Capital Turnover, Cash Turnover and Current Ratio, on Capital Structure, Through the Net Profit Margin of Basic and Chemical Industry Companies Listed on the Indonesia Stock Exchange in the 2017-2019 Period

Pengaruh Perputaran Modal Kerja, Rasio Lancar, Dan Total Asset Turnover (TATO), Debt Rasio Terhadap Profitabilitas Pada Perusahaan Manufaktur Yang Terdaftar Di Bursa Efek Indonesia Periode 2016-2019

This study uses a sample of 244 manufacturing companies by analyzing the performance of financial statements that have been audited by a public accountants for the period 2016 - 2019. This study uses secondary data namely the purposive sampling method with the R2 method. The results of this study identicate that working capital turnover, current ratio, total asset turn over ratio and debt ratio simultaneously have a significant effect on profitability. Partially, the debt ratio variable has no effect on profitability. While the variable Working capital turnover has a negative and significant effect on profitability. Current ratio has a positive and significant effect on profitability. TATO positive and significant effect on profitability The results of the coefficient of determination test obtained an adjusted R Square value of 0.150 or 15.0%, which means the dependent variable, namely profitability, can be explained by the third variation. The independent variables are cash turnover, working capital turnover and current ratio of 15.0%, while the remaining 75.0% is explained by other factors not examined
 in this research.
 Keywords: Working Capital Turnover, Current Ratio, TATO, Debt Ratio and Profitability.

Determinants of Capital Market Development in Kenya

This study sought to determine the determinants of capital market development in Kenya. The empirical study was conducted using time series data for the period 2001- 2020. This study adopted quantitative approach and employed secondary data of twenty years; Pearson correlation test was used to evaluate the relationship between the variables. Furthermore, this study used multiple regression analysis by applying Ordinary Least Square (OLS) method. The macroeconomic variable data involved were stock market liquidity, investment, and foreign direct investment. For capital market development indicators, market capitalization, listed companies, value traded and turnover ratio were considered. The regression results demonstrate that all the variables, stock market liquidity, investment and foreign direct investment are important determinants of capital market development in Kenya. The findings from Ordinary Least Square (OLS) indicated that the model is significant in a whole and the three independents explain 91% changes in the dependent variable. The study recommends the following policies among others; the government should regulate and control financial sector in order to promote the capital market development. Policy maker should cut off restriction for the foreigner investors and to create strategies to increase the foreign direct investment and offer incentives.

Working Capital Management and Profitability of Industrial Goods Sector in Nigeria

This study investigated the relationship between working capital management and profitability of industrial goods sector in Nigeria. Specifically, the variables of working capital management namely: Cash Conversion Cycle (CCC), Current Ratio (CR), Quick Ratio (QR) and Working Capital Turnover ratio (WCTR) and Return On Assets (ROA) were examined. Firms in the industrial goods sector were selected and their data sourced from the Nigerian Stock Exchange Factbook (2011-2020) and seventy (70) observations were obtained. The study revealed from the regression analysis carried out that a positive linear relationship exist between the variables of working capital management (CCC, CR, QR and WCTR) and ROA. CR was negatively and significantly related with ROA while, CCC and QR was positively but insignificantly related with ROA.WCTR shows a negative and insignificant relationship with ROA when tested at 0.05 level of significance. Based on the findings, it is recommended therefore, that listed industrial goods firms should adopt the management of their short term financial strength in boosting profitability.

PENGELOLAAN MODAL KERJA DALAM MENINGKATKAN PROFITABILITAS PADA KOPERASI KREDIT OBOR MAS CABANG UTAMA ENDE

Good working capital management can increase the value of cooperative profitability which is indicated by the residual value of operating results (SHU). This study aims to determine and analizy the management of working capital at Kopdit Obor Mas Cabang Utama Ende years 2018 - 2020 in increasing. The type of used is quantitative data sourced from secondary data in the form of financial balance report and calculations of remaining operating results for 2018 - 2020. The data analysis technique uses the analysis of working capital turnover ratio and profitability ratio
 The results of the study show that working capital turnover fluctuates where for 2019 it has increased but in 2020 it has decreased so that it affects the acquisition of fluctuating profitability value s indicated by the ratio NPM, ROA, ROE. Efforts to increase profitabiity can br done by using cash optimaly so that there is no idle cash, increasing receiveble collection so as not to cause a buildup of working capital on receivables and controlling operational and non operational cost

Pengaruh Likuiditas, Leverage, Times Interest Earne Ratio, Pertumbuhan Penjualan Dan Ukuran Perusahaan Terhadap Profitabilitas Pada Perusahaan Property Dan Real Estate Yang Terdaftar Di BEI Periode 2015-2019

Economic conditions in Indonesia are currently in a fairly good development period, this can be seen from the number of companies that are growing and continuing to develop, one of which is manufacturing companies. This study uses a sample of 95 property and real stated companies by analyzing the performance of financial statements that have been audited by public accountants for the period 2015-2019. This study uses secondary data with a purposive sampling method. The method of analysis uses multiple linear regression methods. The results of this study indicate that simultaneously liquidity, leverage, times interest earned ratio, sales growth and company size have a significant effect on profitability. Partially, the variable leverage, times interest earned ratio, and sales growth have no effect on profitability. Meanwhile, working capital turnover has a negative and significant effect on profitability. And the liquidity ratio and size have positive and significant effect on protability. The coefficient of determination test results obtained an adjusted R square value 0f 0,247 or 24,7 percent, which means that the dependent variable, namely profitability, can be explained by variations of the three independent variables, namely cash turnover , working capital turnover and current ratio of 24,7percent, while the remaining 75,3 percent is explained by other factors not examined in this study.
 
 Keywords : Liqudity, Leverage, Times Interest Earned Ratio, Sales Growth, Company Size and Profitability.

PERPUTARAN MODAL KERJA, LIKUIDITAS DAN SOLVABILITAS DALAM MENINGKATKAN PROFITABILITAS PERUSAHAAN

This study aims to determine the effect of working capital turnover, liquidity and solvency on profitability in food and beverage sub-sector companies in the Indonesian Capital Market for the 2016-2020 period. Working capital turnover is calculated using the Working Capital Turnover ratio, liquidity is measured using the Current Ratio, solvency is measured using the Debt to Assets Ratio and Profitability is measured using Return on Assets. This type of research is quantitative using multiple linear regression analysis. The sampling technique used purposive sampling method.
 The results of the analysis show that working capital turnover, liquidity and solvency have a significant effect on company profitability. This is evidenced by the results of correlation analysis which shows the value of r2 = 0.831, which means that there is an influence between working capital turnover, liquidity and solvency on profitability. Partially, each independent variable has a significant effect on profitability.

An Analytical Study of Liquidity and Assets Management Ratio of Selected Automobile Company in India

The primary objective of this research is to assess the liquidity and asset management positions of selected vehicle manufacturers and to give recommendations for improving their liquidity and asset management positions. The current research spans five years, from 2015-2016 to 2019-2020. Three organizations were chosen for this research, and five ratios were calculated: the current ratio, the liquidity ratio, the working capital turnover ratio, the total asset turnover ratio, and the fixed asset turnover ratio. ANOVA was employed to test the hypothesis. The research's principal results reveal that there is no statistically significant variation in the different asset management and liquidity ratios of chosen vehicle businesses during the study period. According to data interpretation, the comparison of all the selected three automobile industry's ratios indicates that Maruti Suzuki Ltd. is in a better position than the other selected automobile companies, as its average of the selected ratios is 12.85, which is higher than the other selected automobile companies. Thus, Maruti Suzuki Ltd. outperforms the other automotive manufacturers.

An Analytical Study of Liquidity and Assets Management Ratio of Selected Automobile Company in India

The primary objective of this research is to assess the liquidity and asset management positions of selected vehicle manufacturers and to give recommendations for improving their liquidity and asset management positions. The current research spans five years, from 2015-2016 to 2019-2020. Three organizations were chosen for this research, and five ratios were calculated: the current ratio, the liquidity ratio, the working capital turnover ratio, the total asset turnover ratio, and the fixed asset turnover ratio. ANOVA was employed to test the hypothesis. The research's principal results reveal that there is no statistically significant variation in the different asset management and liquidity ratios of chosen vehicle businesses during the study period. According to data interpretation, the comparison of all the selected three automobile industry's ratios indicates that Maruti Suzuki Ltd. is in a better position than the other selected automobile companies, as its average of the selected ratios is 12.85, which is higher than the other selected automobile companies. Thus, Maruti Suzuki Ltd. outperforms the other automotive manufacturers.

ОЦІНКА КОНКУРЕНТОСПРОМОЖНОСТІ ПІДПРИЄМСТВА

The article analyzes the conceptual approaches to the formation of a system for ensuring the competitiveness of economic entities in the face of new challenges, taking into account the future prospects of economic development. An important element in the formation of competitiveness in martial law were not only indicators of efficiency of the enterprise, but also the type of activity. The article notes that construction companies are most relevant in the period of military conflicts and the postwar period. The construction industry is the basis for the formation of a system of restoration of peaceful life, restoration of residential, industrial, and later commercial real estate, material and technical base. Thus, the article assessed the competitiveness of construction companies in order to determine their potential to work in the new large, which is highly relevant. The main tasks of assessing the competitiveness of a construction company were identified as a set of factors that affect the final indicators (results) of the enterprise. The article proposes an algorithm for assessing the competitiveness of the enterprise by the method of in-depth analysis of the financial and economic condition of insolvent enterprises. The main objectives of the analysis of competitiveness by the proposed method are the dynamics and currency structure of the balance sheet of the enterprise; sources of own funds; structure of accounts payable; asset structure; profitability of the enterprise. To fully analyze the competitiveness of the enterprise, the following indicators were calculated and conclusions were made on the impact of their change on the economic situation: autonomy ratio, financial stability ratio, working capital turnover ratio, working capital turnover time, inventory turnover ratio, inventory turnover time and others. The efficiency of the enterprise and its competitiveness are determined by rating based on a comprehensive analysis. The article proposes a comprehensive algorithm for assessing the competitiveness rating of construction companies based on data from financial and economic work and planning, which allows to ensure mobility, system, multifunctionality and integration of competitiveness assessment processes. The results of the study can be used by construction companies, customers, developers, investors, suppliers and other stakeholders engaged in construction activities.

LIQUIDITY AND PROFITABILITY ANALYSIS OF SELECT ELECTRICAL MACHINERY COMPANIES IN INDIA

This research is based on secondary data collected from the Centre for Monitoring the Indian Economy's official directory and database, such as 'PROWESS IQ’. The samples are selected based on purposive sampling and the study includes sales volume the top 10 companies out of 258 companies that are listed in Electrical Machinery Industry in India. The study covers a period of ten financial years, from 2011-12 to 2020-21, and uses techniques tools such as Mean, Standard Deviation, Coefficient of Variation, Ratio Analysis and Altman Z-Score. The primary goal of a business enterprise is to make a profit. Profit is a powerful intermediate guiding light for influencing a company capital. The objectives of this study are to analyse liquidity and understand profitability position. As a result shows Current Assets are stronger (2.21) than the Current Liabilities (1), Liquid Assets are (1.79) more than the Current Liabilities 1.00, high mean value (24.91) Inventory Turnover Ratio implies that higher Sales, Working Capital Turnover Ratio (4.45) indicates a company with a strong financial foundation in terms of liquidity. Mean value (5.71) Debtors Turnover Ratio is too high, indicated that the companies in financial distress and unable to pay the Debtors, (18.85) highest Gross Profit Ratio indicates that the company's profit, (2.97) Net Profit Ratio indicates that the business Selling and Distribution expenses are under control. Voltamp Transformers Ltd, Cummins Generator Technologies India Pvt. Ltd and Schneider Electric Infrastructure Ltd Companies is placed in too healthy zone. The Powerica Ltd, C & S Electric Ltd and Kirloskar Electric Co. Ltd companies are in “Distress Zone”. The researcher recommends improving the current ratio to increase current assets by raising shareholder funds and to improve net profit decrease in operating cost. These measures will help selected Electrical Machinery companies in India increase their profitability in the future.

ANALISIS PERBANDINGAN EFISIENSI MODAL KERJA ANTARA PT. MAYORA INDAH Tbk. DAN PT. SIANTAR TOP Tbk. YANG TERDAFTAR DI BURSA EFEK INDONESIA

Working capital is one of the most important asset elements in the company. Because without working capital, the company cannot meet the funding needs to carry out its activities. The working capital turnover period is since cash is invested in working capital elements until it becomes cash again. It is less than one year or short-term. This working capital turnover period shows the level of efficiency in the use of working capital. This research aims to determine which company is more efficient in using working capital between PT. Mayora Indah Tbk. and PT. Siantar Top Tbk. In this research, the data collection techniques used were 1) Documentation, this method is used to obtain information in the form of secondary data that refers to documents related to the working capital efficiency of PT. Mayora Indah Tbk and PT. Siantar Top Tbk. 2) Literature Research, namely data collection techniques by conducting searches using references from books, journals, and papers correlated to the research object for obtaining concepts and data relevant to the problems research as research support. The analytical method used is the descriptive analysis method with financial ratio analysis, where the financial ratio used is the activity ratio, namely the working capital turnover ratio. Based on the research results, PT. Mayora Indah Tbk. Obtaining an average working capital turnover of 3.61 times or 4 times for 5 years, while PT. Siantar Top, Tbk of - 182.14. Therefore, it concludes that PT. Mayora Indah Tbk is more efficient in using its working capital than PT. Siantar Top Tbk.

Analisis Faktor Yang Mempengaruhi Likuiditas Pada Perusahaan Asusransi yang Terdaftar di Bursa Efek Indonesia

This study aims to examine the effect of Debt Ratio, Cash Flow Ratio, Capital Turnover Ratio on liquidity in general insurance companies listed on the Indonesia Stock Exchange 2017-2019. In recent years, the financial industry, especially the Indonesian insurance sector, has been faced with a number of problems that have caused insurance companies to experience problems in terms of liquidity and insolvency. Based on purposive sampling, the number of samples used in the study were 14 companies from 42 observation companies. Hypothesis testing using multiple linear regression. The results showed that the Debt Ratio and Capital Turnover Ratio had no effect on the company's liquidity. While the Cash Flow Ratio has an influence on the Liquidity of Insurance Companies listed on the Indonesia Stock Exchange

Perputaran Perputaran Modal Kerja, Likuiditas dan Leverage, Memacu Rentabilitas Perusahaan


 Abstract
 
 This study aims to determine the effect of working capital turnover, liquidity and solvency on profitability in food and beverage sub-sector companies in the Indonesian Capital Market for the 2016-2020 period. Working capital turnover variable is calculated using the Working Capital Turnover ratio, liquidity is measured using Current Ratio, solvency is measured using Debt to Assets Ratio and Profitability is measured using Return on Assets. 
 This type of research is quantitative using the classic assumption test, multiple linear regression analysis and partial test. The sampling technique uses the purposive sampling method. The results of the analysis that have been done, show that the working capital turnover, liquidity and solvency significantly influence the profitability of the company.
 This is evidenced by the results of correlation analysis which shows the value of r = 0.831 which means there is a strong relationship between working capital turnover, liquidity and solvency to profitability. Partially, each independent variable significantly influences profitability.
 
 Keywords: Working Capital Turnover, Liquidity, Solvency, Return on Assets
 

ANALISIS EFISIENSI DAN EFEKTIVITAS PENGGUNAAN MODAL KERJA PADA PERUSAHAAN SUB-SEKTOR ANEKA INDUSTRI ELEKTRONIKA YANG TERDAFTAR DI BURSA EFEK INDONESIA (BEI) PADA PERIODE 2017-2019

This research aims to determine the level of efficiency and effectiveness of the use of working capital in various electronics industri sub-sector companies listed on the Indonesia Stock Exchange (IDX) in the 2017-2019 period. The analysis technique used in this research is to use the working capital turnover ratio by comparing sales to net working capital and the profitability ratio by comparing the profit margin with working capital. The type of research used is descriptive research using quantitative data as the basis of analysis. Based on the results of the study, it shows that the average level of efficiency and effectiveness in the use of working capital in various electronics industri sub-sector companies listed on the Indonesia Stock Exchange (IDX) in the 2017 - 2019 period is declared Efficient and Effective. Where it means that the higher the rate of working capital turnover will be the more income you get from that income stream. The higher the rate of working capital turnover, the more efficient and effective it is in the use of working capital.