Capital Turnover Research Articles

Pengaruh Struktur Modal, Kepemilikan Institusional dan Perputaran Modal Kerja Terhadap Nilai Perusahaan: Studi Keuangan pada Sub Sektor Asuransi yang Terdaftar di BEI Periode 2018-2023

The purpose of this study was to determine how much influence Capital Structure, Institutional Ownership and Working Capital Turnover have on Company Value in the Insurance Sub-Sector listed on the IDX for the 2018-2023 Period. The objects in this study are Capital Structure (X1), Institutional Ownership (X2), Working Capital Turnover (X3) and Company Value (Y). This research uses descriptive and associative methods with a quantitative approach. The sampling technique used in this study used a non-probability sampling approach with a purposive sampling approach. The data analysis techniques used are correlation coefficient test, determination coefficient, multiple linear regression test, simultaneous test (F test) and partial test (t test). Based on the results of the study, it shows that there is a variable relationship between Capital Structure, Institutional Ownership, and Working Capital Turnover on Firm Value of 0.472 which means that the level of relationship between Capital Structure, Institutional Ownership, and Working Capital Turnover on Firm Value includes moderate relationship criteria. Then the results of the partial test show that Capital Structure has a negative and insignificant effect on Firm Value, Institutional Ownership has a positive and significant effect on Firm Value, and Working Capital Turnover has a positive and significant effect on Firm Value. Keywords: Capital Structure, Institutional Ownership, Working Capital Turnover, Company Value.

Determinant Factors of Profitability in Fintech Lending Companies in Indonesia from 2019 to 2022 Using Principal Component Analysis (PCA)

This reserach examines factors influencing the profitability of Fintech lending companies in Indonesia. A purposive sampling method was employed to select 45 companies annually. The data for this research are cross-sectional, comprising the years 2019, 2020, 2021, and 2022. The methods in this research are Principal Component Analysis (PCA) and multiple linear regression. Findings reveal that current ratio, cash ratio, working capital turnover, debt to assets ratio, short-term debt ratio, equity multiplier, total assets turnover, fixed assets turnover, tangible assets ratio, and effective tax rate significant determinants of profitability for Fintech lending companies in Indonesia. This reserach can help Fintech lending companies improve their profitability.

The Effect of Working Capital Turnover and Current Ratio (CR) on Return On Investment (ROI) at PT Harum Energy, Tbk (A Company Listed on the Indonesia Stock Exchange Period 2015-2022)

The purpose of this study was to determine the effect of working capital turnover and current ratio (cr) on return on investment (roi) at PT Harum Energy, Tbk for the period 2015-2022. The research method used is a descriptive associative method. The population consists of secondary data from the financial statements of PT Harum Energy, Tbk. The sample taken used non-probability sampling with purpose sampling method with specific criteria, see the quarterly financial reports of PT Harum Energy, Tbk for the period 2015-2022. To test the influence analysis, Pearson product moment correlation analysis, coefficient of determination analysis, multiple linear regression analysis and t-test and F-test hypothesis testing were applied. The results of the investigation demonstrate that the value of the correlation between working capital turnover and (roi) is -0,193 the correlation value of this falls into the extremely low group, current ratio to return on investment is 0,251 It falls under the low group. The outcomes of the determination analysis show that the quantity of the independent variables influence and contribution (working capital turnover and current ratio) to the dependent variable (return on investment) is 25% and the remainder 75% is affected by additional factors that the author did not look into

The Effect of Government Policy on Infrastructure Priorities on the Profitability of Construction Companies in Indonesia 2011-2019

Introduction/Main Objective: The Indonesian government's policy of prioritizing the acceleration in infrastructure development will certainly have an impact on construction companies. Background of the Problem: This research aims to determine the influence of internal and external company factors on the profitability of companies in the building construction subsector. Novelty: This research analyzes the impact of increasing the government's infrastructure budget on the profitability of building construction subsector companies. Research Method: This research uses panel data regression analysis with annual financial report data from building construction subsector companies listed on the Indonesia Stock Exchange for the period from 2011 to 2019, which is divided into the period before the infrastructure sector became the focus of development (2011 to 2014) and after (2015 to 2019). Profitability is measured using the return on assets. The external factors are measured using the infrastructure budget and inflation, while the internal factors are measured using company size, liquidity, leverage, cash turnover, working capital turnover and receivables turnover. Findings/Results: This research concludes that the infrastructure budget, company size, and liquidity do not have a significant positive effect on company profitability, while inflation does not have a significant negative effect on profitability. Furthermore, cash turnover, working capital turnover, and account receivable turnover have a significant positive effect on profitability, while leverage has a significant negative effect on profitability. Conclusion: This research shows that companies should periodically review the impact of loans and always maintain the composition of their funding, according to their needs. Meanwhile, the government needs to evaluate the auction process, and sharpen its alternative infrastructure project funding strategies.

PENGARUH WORKING CAPITAL TURNOVER (WCT) DAN DEBT TO EQUITY RATIO (DER) TERHADAP RETURN ON ASSETS (ROA) PADA PT. MUSTIKA RATU TBK

This research aims to examine the influence of Working Capital Turnover (WCT) and Debt To Equity Ratio (DER) on Return On Assets (ROA) at PT. Mustika Ratu Tbk during the period from 2011 to 2022. The data used in this study are secondary data in quantitative form. The research instrument used includes tables covering current assets, total assets, current liabilities, total liabilities, total equity, sales, and net profit after tax. The population for this study covers 15 years (2008-2022), with a sample of 12 years (2011-2022). The sampling technique used is purposive sampling. Data collection methods involve documentation and literature review. The data analysis techniques employed include classical assumption tests, multiple linear regression, t-tests, and F-tests.The results of the analysis indicate that WCT has a significant partial effect on ROA, suggesting that the efficiency of working capital utilization affects the company's ability to generate profit from its total assets. Additionally, DER also has a significant partial effect on ROA, indicating that the company's capital structure influences its profitability. WCT and DER together have a significant simultaneous effect on ROA. This study contributes to understanding the factors influencing corporate financial performance and their relevance in managerial decision-making.

ANALISIS PERPUTARAN MODAL KERJA PADA PT. MAYORA INDAH TBK

The aim of this research is to analyze PT Mayora Indah, Tbk on the working capital turnover ratio. This research uses a descriptive type with a quantitative approach. This research uses a purposive sampling technique and uses profit and loss financial reports consisting of sales reports, initial working capital and final working capital from 2013 to 2022 as the sample. First, the latest financial report data, and second, data for a ten-year period, specifically 2013–2022, is used as a standard. The analysis used is SPSS version 22 software which includes Statistical Analysis and One Sample Test. This research shows that the working capital turnover ratio is six times lower than expected.

Pengaruh Ukuran Perusahaan dan Working Capital Turnover terhadap Profitabilitas pada PT Unilever Tbk Tahun 2014-2023

This study purpose to analyze the Effect of Company Size and Working Capital Turnover (WCT) on Profitability (ROA) at PT Unilever Indonesia Tbk in 2014-2023. This study uses a quantitative method. The population and sample in this study are the Quarterly Financial Reports of PT Unilever Indonesia Tbk in 2014-2023. The sample in the study was 40 financial reports taken using saturated sampling techniques. The data analysis used in this study is multiple linear regression analysis using the SPSS 22 application. The results of the study indicate that partially the Working Capital Turnover (WCT) variable has an effect on Profitability (ROA). While the company size variable partially has no effect on Profitability (ROA). Simultaneously, the company size and Working Capital Turnover (WCT) variables have an effect on Profitability (ROA) with a determination coefficient value of 16.1%.

Joint Responsibility in Facing Financial Risks in Cooperative Groups (Case in Study Indonesian it is called Tanggung Renteng)

Cooperatives will exist if they can develop flexible business activities oriented to service to members, in line with the development of members' businesses, and transaction costs between members and cooperatives are smaller than non-cooperative members and are able to develop the capital base of the members themselves. There are important things that must be considered in this regard, many experiences show that one of the factors causing the weakness of cooperatives is that the excess value of capital turnover in the cooperative system is more accepted by institutions outside the cooperative and its members. Cooperation activities must be by the characteristics of the community and its members. This study aims to analyze the joint responsibility of cooperative groups in Surabaya to face financial risks. The research method used is a case study on the Setia Bhakti Savings and Loan Cooperative Surabaya. Data was collected through interviews, observations, and documentation. The study results show that the Setia Bhakti Surabaya Savings and Loan Cooperative, whose members are majority women, interprets joint responsibility as diversity that is responsible for each member with risks that must be overcome together. In the current socio-cultural order of society, it can be concluded that cooperatives must be able to grow, develop, and at the same time also play a role and benefit the life of the community that develops from the traditional society with strong sociological ties through primary emotional relationships towards a heterogeneous society and is increasingly involved in the market and capital system. This is what is found in the Setia Bhakti Surabaya Savings and Loan Cooperative, whose members are dominated by women and shared responsibility is interpreted as diversity that is responsible for each member with risks that must be overcome.

Pengaruh Perputaran Modal Kerja Terhadap Profitabilitas Pada Usaha Mikro Sembako Mitra Indo Grosir Di Karawang

The objectives of this study are (1) To know, analyze and explain how the turnover of working capital and profitability in micro businesses of Indo Grosir partners in Karawang. (2) To find out, analyze and explain how the effect of working capital turnover on profitability in micro grocery businesses of Indo Grosir partners in Karawang. Through descriptive verifiability, simple regression analysis as the method with the use of quantitative research as the type of research where a total of 61 micro business partners, basic necessities, and wholesale partners in Karawang are the population of this study. 30 samples of micro food businesses were obtained by the purposive sampling method used for sampling. The results of the Descriptive Test in this study show that the working capital turnover rate in micro grocery enterprises of Indo Wholesale partners in Karawang has a fast period with the highest working capital turnover rate of 1.12. Meanwhile, the highest profitability level in micro grocery businesses of Indo Wholesale partners in Karawang is 16.93%. This is due to the low profits obtained in running the business, which affects the turnover of working capital and profitability. Partially, the results show that the profitability of micro grocery enterprises of Indo Wholesale partners in Karawang is not affected by the turnover of working capital, where the results are based on the output of verifiable tests that have been carried out on problems that have been formulated with simple linear regression analysis. The absence of influence is due to the low profits of micro-food businesses with fast working capital turnover.

An Analysis of Utility Capital (In)efficiency

Determining the optimal allocation of financial resources to support growth in demand and improve operational efficiency is a strategic and intricate challenge for utilities. Unlike other industries in which return on invested capital (ROIC) and capital turnover ratio are standard metrics of capital efficiency, the utility sector operates under unique regulatory constraints that render these measures less applicable.

Pengaruh Operating Capacity dan Working Capital Turnover Terhadap Financial Distress

Financial distress is a decline in a company's financial condition that occurs before bankruptcy or liquidation, which begins with the company's inability to fulfill its obligations. Based on data on the Indonesian Stock Exchange, several companies have experienced bankruptcy for two consecutive years in mining sector companies in 2019-2022. The aim of this research is to determine the effect of operating capacity and working capital turnover on financial distress. This type of research is quantitative with documentation methods. The total population is 86 companies with a sample of 39 companies. The sample was selected using a purposive sampling method, the data used were the annual financial reports of various mining sectors for the 2019-2022 period. Data analysis uses classical assumptions, T test and F test and multiple linear regression analysis using the Altman Z-Score method. The results of this research show that operating capacity has a positive and significant effect on financial distress and working capital turnover has no significant effect on financial distress.

Human Capital Turnover in the Construction Industry: A Review with Focus on Archies Construction Pvt. Ltd

This present research focuses on identifying the reasons behind the high rates of turnover among staff at Archies Construction Pvt Ltd and how the problem can be solved. Retirement, voluntary or forced termination is equally costly within the construction business as it heavily affects schedule, cost and organizational performance. This research also studies the internal factors referring to human capital theory, namely job satisfaction, reward, and promotion, management support, and the coercive factors including market trends and fluctuations, competition, and regulation. Employing survey and qualitative interviewing methods, the study combines the closed, quantitative survey data collected from employees and qualitative data obtained from the interviews with current and former employees of the company. The study brings out several internal factors that are important drivers of turnover such as lack of satisfaction with leaders, absence of career development in organizations, and poor employee remuneration. The problem is further compounded by external forces like the competition witnessed when seeking for the qualified personnel and the volatility of the market forces. The assessment points out that high turnover rates raise costs of hiring and training, impact project duration and employees’ morale thereby diminishing a firm’s stability. In response to these challenges, it is suggested that the following retention strategies should be adopted: it is proposed that leadership should communicate more effectively with employees; organizations should provide enhanced career progression plans for staff; and organizations should ensure that rewards and remuneration given to employees are competitive. Moreover, an enhancement of the degrees of employee engagement and supportiveness of workplace climate could enhance employee turnover. In other words, by managing both internal and external sources of turnover, it is possible for Archies Construction to maintain a stable workforce, exhibit sound labor productivity and, therefore, improve its performance on projects in general and its financial performance in specific. The study enhances the existing knowledge on HCM in industries that rely on projects and offers best practices for addressing turnover. Further research could focus on changes in economic or technological factors pertaining to workforce retention in the construction industry.

PENGARUH PERPUTARAN MODAL KERJA, PERPUTARAN PERSEDIAAN DAN PERPUTARAN PIUTANG TERHADAP PROFITABILITAS

The phenomenon of declining profitability of manufacturing companies from 2018-2020 causes investors to need to know the company's activities through the working capital turnover ratio, inventory turnover, accounts receivable turnover. Therefore, this study aims to determine the effect of working capital turnover, inventory turnover, accounts receivable turnover on profitability in manufacturing companies listed on the Indonesia Stock Exchange in 2018-2020. The method applied to process research data is a quantitative-descriptive method with data from the financial statements of the manufacturing sector from 2018-2020. From the results of multiple regression analysis using SPSS 25.0, it is known that working capital turnover has a significant negative effect on profitability. Meanwhile, inventory turnover has no significant negative effect on profitability. Accounts Receivable Turnover has no significant positive effect on profitability.

FAKTOR-FAKTOR YANG MEMPENGARUHI KINERJA KEUANGAN PERUSAHAAN PADA PERUSAHAAN MANUFAKTUR DI BEI

This research aims to obtain empirical evidence regarding the effect of leverage, firm size, intellectual capital, and working capital turnover on financial performance in manufacturing companies listed in the Indonesia Stock Exchange during the period of 2018-2020. The sample was selected using purposive sampling method and the valid data used in this study found 69 manufacturing companies. The data processing techniques using multiple regression analysis assisted by SPSS software (Statistical Product and Service Solution) version 21. The results of this study showed that firm size and working capital turnover have no significant effect on financial performance. Meanwhile, leverage has negative and significant effect on financial performance and intellectual capital has a positive and significant effect on financial performance. The implication of this study is for the role of the company management to pay attention on the level of leverage used by the company and the role of intellectual capital in increasing the company’s financial performance.

Analis Rasio Keuangan Untuk Mengukur Kinerja Keuangan Pada PT. Astra Otoparts, Tbk Periode Tahun 2021-2023

Abstract : This study aims to assess the financial performance of PT Astra Otoparts Tbk from 2021 to 2023 using Liquidity, Solvency, Activity, and Profitability Ratios, based on secondary data from financial reports obtained from the IDX website. This study employs a qualitative descriptive method. The findings indicate that Liquidity Ratios and Solvency Ratios are below industry standards, reflecting an unhealthy financial condition, except for the Debt to Equity Ratio which is healthy. Activity Turnover Ratios in 2023 are also below industry averages, although Days of Receivable, Fixed Asset Turnover, and Working Capital Turnover in 2021-2022 show satisfactory conditions. Profitability Ratios, including Profit Margin on Sales, Net Profit Margin, and Return on Investment, remain below industry averages, indicating poor financial health.

PERAN LIKUIDITAS, MODAL KERJA, DAN KINERJA DALAM MENENTUKAN NILAI PERUSAHAAN: KASUS PT. ACE HARDWARE INDONESIA, TBK (2011-2020)

This research aims to determine the influence of Liquidity (CR), Working Capital (WCT) and Company Performance (ROE) on the Company Value of PT. Ace Hardware Indonesia Tbk is listed on the Indonesia Stock Exchange for the 2011-2020 period, either partially or simultaneously. The population used in this research is a retail company for household needs and lifestyle, namely PT. Ace Hardware Indonesia 2011-2020. Data analysis uses normality tests, multicollinearity, autocorrelation, multiple linear regression, determination, F test and T test. Based on the results of the research that has been carried out, a conclusion can be made, namely that the Liquidity Variable (Current Ratio) is positive and significant to Company Value. The Working Capital Variable (Working Capital Turnover) has a positive and significant effect on Company Value. The Company Performance Variable (Return On Equity) does not have a significant effect on Company Value. Simultaneously, Liquidity (Current Ratio), Working Capital (Working Capital Turnover) and Company Performance (Return On Equity) do not have a significant effect on Company Value.

Effect of GST on WCM and Profitability of FMCG Sector in India

Working capital primarily consists of a company’s current assets, or the part of its financial resources that are converted from one kind of resource to another as operations are carried out on a daily basis. Working capital management is regarded as a key component of a company’s profitability. This study examines the working capital relationship with firm’s profitability. An optimal working capital is essential for enhancing the value of an organization. The impact of GST is significantly evident on all transactions of FMCG sectors, especially during stock transfer between two branches of a company, during which period the funds get blocked. This study considered 55 FMCG manufacturing firms, listed in BSE for a period of 12 years starting from 2012 to 2023. Multiple regression model was used to test the hypothesis. The study established a low working capital turnover ratio, which indicates quick realization of inventory, and creates the demand for funds to procure more stock for production purpose. The working capital turnover was used to gauge aggressive investing practices. An aggressive investment strategy is indicated by a low working capital turnover ratio, and a conservative strategy is indicated by a high ratio.

THE EFFECT OF WORKING CAPITAL TURNOVER, RECEIVABLE TURNOVER, AND INVENTORY TURNOVER ON THE PROFITABILITY OF FOOD AND BEVERAGE COMPANIES LISTED ON THE INDONESIA STOCK EXCHANGE (IDX) FOR THE 2018-2022 PERIOD

Objectives This research is a type of quantitative research with the aim of determining the Influence of Working Capital Turnover, Receivable Turnover, and Inventory Turnover on the Profitability of Food and Beverage Companies Listed on the Indonesia Stock Exchange (IDX) for the 2018-2022 Period. The type of data in this study is secondary data, namely data obtained indirectly, through intermediaries in the form of data on food and beverage companies listed on the Indonesia Stock Exchange (IDX). The data used in this study is the annual financial report of food and beverage companies for the period 2018-2022. Based on the results of data research using statistical calculations through the Statistical Package for the Social Science (SPSS) version 26 application regarding the Effect of Working Capital Turnover, Receivable Turnover, and Inventory Turnover on the Profitability of Food and Beverage Companies Listed on the Indonesia Stock Exchange (IDX) for the 2018-2022 Period, the author draws important conclusions, namely Working Capital Turnover has a positive and significant effect, Receivable Turnover has a negative and significant effect and Inventory Turnover has a positive and significant effect on profitability in Food And Beverage Companies Listed on the Indonesia Stock Exchange (IDX) for the 2018-2022 Period.

Pengaruh Perputaran Modal, Leverage dan Likuiditas terhadap Profitabilitas dengan Ukuran Perusahaan sebagai Variabel Moderasi Perusahaan Yang Terdaftar Pada JII 70 Tahun 2020-2022

This research aims to determine the effect of capital turnover, leverage, liquidity on profitability with company size as a moderating variable. The population of this research are companies listed on the Jakarta Islamic Index for the 2020-2022 period. This research is quantitative research. Sample selection used a purposive sampling technique, with predetermined criteria a sample of 159 companies registered on the Jakarta Islamic Index 70 was successfully obtained. The data analysis method in this research used the Classical Assumption Test and Moderated Regression Analysis (MRA). So the results of this research state that turnover capital has a significant positive effect on profitability, on average it has a significant negative effect on profitability, liquidity has a significant positive effect on profitability, company size has a significant negative effect on profitability and company size is able to moderate the effect of liquidity on profitability

The Influence of Working Capital Turnover and Net Profit Margin (NPM) on Return on Asset (ROA) at PT Indofood Sukses Makmur Tbk (Case Study Listed on the Indonesia Stock Exchange for the 2015-2022 Period)

Researchers aim to determine the influence of Working Capital Turnover and NPM on Return On Assets. The object of this research was carried out at PT Indofood Sukses Makmur Tbk, with this type of research using a quantitative approach with an associative descriptive approach. Secondary data was collected from financial reports for 8 years, from 2015 to 2022, divided into 3 months. For data research, documentation techniques are used. The 2015–2022 financial reports are the subject of this research. A purposive sampling method was used. Next, the data for analysis is used through the classic assumption test, which consists of four tests: heteroscedasticity, normality, multicollinearity, and autocorrelation as a correlation study; analysis of the coefficient of determination; linear regression; and simultaneous and partial hypothesis testing. The research results show that working capital turnover partially and significantly has a negative effect on Return On Assets in the 2015–2022 period of PT Indofoood Sukses Makmur Tbk, while net profit margin has no effect on Return On Assets. On the other hand, working capital turnover and net profit margin simultaneously influence Return On Assets. Influential assets