Pengaruh Cash Turnover, Receivable Turnover, dan Inventory Turnover terhadap Profitabilitas

Puput Pitria; Cucu Hilma Azahra

doi:10.32534/jpk.v13i2.8579

Authors

Puput Pitria Faculty of Economic and Business, University of Muhammadiyah Cirebon
Cucu Hilma Azahra Faculty of Economic and Business, University of Muhammadiyah Cirebon

DOI:

https://doi.org/10.32534/jpk.v13i2.8579

Keywords:

Perputaran Kas, Perputaran Piutang, Perputaran Persediaan, Profitabilitas, Perusahaan Farmasi

Abstract

Tujuan Utama - Penelitian ini bertujuan untuk menguji pengaruh perputaran kas, perputaran piutang, dan perputaran persediaan terhadap profitabilitas pada perusahaan farmasi yang terdaftar di Bursa Efek Indonesia tahun 2018-2020.

Metode - Penelitian kuantitatif asosiatif ini menggunakan data sekunder dari laporan keuangan 8 perusahaan sampel yang dipilih melalui teknik purposive sampling. Analisis data dilakukan dengan regresi linier berganda.

Temuan Utama - Hasil uji menunjukkan bahwa secara simultan, ketiga variabel independen tidak berpengaruh signifikan terhadap profitabilitas. Secara parsial, perputaran kas, perputaran piutang, dan perputaran persediaan masing-masing juga tidak memiliki pengaruh signifikan terhadap profitabilitas.

Implikasi Teori dan Kebijakan - Penelitian ini mengimplikasikan bahwa manajemen perlu mencari variabel lain di luar rasio aktivitas untuk meningkatkan laba, dan investor disarankan memperluas analisis ke rasio keuangan lainnya.

Kebaruan Penelitian - Penelitian ini mengkaji transisi pra-pandemi ke awal COVID-19 di subsektor farmasi BEI, dan menemukan bahwa ketidaksignifikanan tiga rasio aktivitas modal kerja terhadap profitabilitas merupakan respons struktural terhadap krisis bukan kelemahan model sehingga memberikan implikasi yang berbeda dari studi di periode normal.

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