Analisis determinan profitabilitas perusahaan manufaktur pada 2014-2019
DOI:
https://doi.org/10.14414/jbb.v10i2.2486Keywords:
modal kerja, ukuran perusahaan, efisiensi perusahaan, likuiditas, leverage, profitabilitasAbstract
Profitability is very important for a company to carry out their operational activities because in general they cannot not survive without the ability to generate profits. This study aims to determine the effect of working capital, firm size, company efficiency, liquidity, and leverage on profitability in manufacturing companies listed in the Indonesia Stock Exchange 2014-2019. This research used purposive sampling with 108 sample data. The data were analyzed using panel data regression using eviews 11 software. It showes that working capital, firm size, company efficiency, liquidity, and leverage simultaneously have a significant effect on profitability. Partially, working capital has a significant positive effect on profitability. Firm size has no significant positive effect on profitability (ROE), but it has a significant positive effect on profitability (EPS). Company efficiency has a significant positive effect on profitability. Liquidity has no significant positive effect on profitability (ROE) and has no negative effect on profitability (EPS). Leverage DER and LDAR have no significant negative effect on profitability. Therefore, this research can be a reference for future research to analyze the determininant of profitability.References
Alarussi, A. S., & Alhaderi, S. M. (2018). Factors affecting profitability in Malaysia. Journal of Economic Studies, 45(3), 442–458. https://doi.org/10.1108/JES-05-2017-0124.
Alipour, M. (2011). Working capital management and corporate profitability: Evidence from Iran. World Applied Sciences Journal, 12(7), 1093–1099.
Batra, R., & Kalia, A. 2016. ‘Rethinking and redefining the determinants of corporate profitability’. Global Business Review, Vol. 17 No. 4, 921–933.
Basuki, A. T., & Prawoto, N. (2016). Analisis Regresi Dalam Penelitian Ekonomi & Bisnis: Dilengkapi Aplikasi SPSS & EVIEWS. Depok: PT Rajagrafindo Persada.
Brigham, Eugene.F, Houston, J. F. (2014). Dasar-Dasar Manajemen Keuangan Edisi 11 Buku 2. Jakarta: Salem-ba Empat.
Brigham, Eugene.F, Houston, J. F. (2018). Dasar-Dasar Manajemen Keuangan Edisi 14. Jakarta: Salemba Em-pat
Dong, H. P., & Jhy-tay Su (2010), The Relationship between Working Capital Management and Profitability: A Vietnam Case. International Research Journal of Finance and Economics, 49, 59-67.
Ghozali, I. (2018). Aplikasi Analisis Multivariate Dengan Program IBM SPSS 21. Edisi VIII. Semarang: Universitas Diponegoro.
Hery. (2016). Analisis Laporan Keuangan : Integrated and Comprehensive Edition. Jakarta: PT. Grasindo.
Julita. (2011). Pengaruh Debt To Equity Ratio Dan Debt To Assets Ratio Terhadap Profitabilitas Pada Perusahaan Transformasi Yang Terdaftar Di Bursa Efek Indone-sia. Jurnal Dosen Universitas Muhammadiyah Sumatera Utara, 1(1), 21.
Keown, J. A., Martin, John D., & Titman. (2018). Financial Management Principle and Applications. Person.
Maulita, D., & Tania, I. (2018). Pengaruh Debt To Equity Ratio (Der), Debt To Asset Ratio (Dar), Dan Long Term Debt To Equity Ratio (Lder) Terhadap Profitabilitas. Jurnal Akuntansi : Kajian Ilmiah Akuntansi (JAK), 5(2), 132. https://doi.org/10.30656/jak.v5i2.669.
Nanda, S., & Panda, A. K. (2018). The determinants of corporate profitability: an investigation of Indian manufacturing firms. International. Journal of Emerging Markets, 13(1), 66–86. https://doi.org/10.1108/IJoEM-01-2017-0013.
Nanda, S., & Panda, A. K. (2019). A quantile regression approach to trail financial performance of manufacturing firms. Journal of Applied Accounting Research, 20(3), 290–310. https://doi.org/10.1108/JAAR-06-2018-0091.
Nugroho, S. B. 2012. ‘Analisis Pengaruh Efisiensi Modal Kerja, Likuiditas dan Solvabilitas Terhadap Profitabilitas’. Jurnal Ilmu Administrasi Bisnis, Vol. 1 No.1, 1–11.
Santini, N. L. K. A., & Baskara. I. G. K. (2018) Pengaruh Perputaran Modal Kerja, Ukuran Perusahaan Dan Likuiditas Terhadap Profitabilitas Perusahaan Tekstil Dan Garmen. E-Jurnal Manajemen Unud, 7(12), 2302-8912. https://doi.org/10.24843/EJMNUD.2018.v7.i12.p5
Sari, N. Y., & Purwohandoko. (2019). Pengaruh Modal Kerja, Leverage, Likuiditas, Dan Firm Size Terhadap Profitabilitas Sektor Industri Barang Dan Konsumsi. Jurnal Ilmu Manajemen, 7(3), 2549-193X.
Sarwono, J. (2017). Mengenal Prosedur-Prosedur Populer dalam SPSS 23. Jakarta: PT Elex Media Komputindo.
Sawir, A. 2005. Analisis Kinerja Keuangan dan Perencanaan Keuangan Perusahaan. Jakarta: PT Gramedia Pustaka.
Sidabutar, R. B. & Widyarti, E. T. 2017. ‘Analisis Pengaruh Manajemen Modal Kerja, Ukuran Perusahaan, Dan DER Terhadap Profitabilitas Perusahaan (Studi Pada Perusahaan Consumer Goods yang Terdaftar Di Bursa Efek Indonesia Periode 2012-2015)’, Diponegoro Journal of Management, Vol. 6 No. 1, 240-253
Sujarweni, V. W. (2017). Analisis Laporan Keuangan. Yogyakarta: Pustaka Baru.
Tegegn, M., Sera. L., & Merra. T. M. (2020). Factors Affecting Profitability Of Insurance Companies In Ethiopia: Panel Evidence. International Journal of Commerce and Finance, 6(1), 1-14.
Warrad, L., & Al Omari, R. (2015). The Impact of Turnover Ratios on Jordanian Services Sectors Performance The Impact of Turnover Ratios on Jordanian Services Sectors Performance. Journal of Modern Accounting and Auditing, 11(2), 77-85.
https://www.cnnindonesia.com/ekonomi/20150915184311-78-78969/bi-sebut-rupiah-sudah-anjlok-158-persen-sepanjang-tahun-ini (diakses pada 20 Oktober 2020)
https://ekonomi.bisnis.com/read/20151022/257/485114/realisasiinvestasi-2015-sektor-manufaktur-dominan (diakses pada 13
Oktober 2020)
https://idxchannel.okezone.com/read/2018/02/07/278/1855979/labasemen-baturaja-terkoreksi-43-40 (diakses pada 22 Oktober 2020)
