Manajemen Modal Kerja, Kendala Keuangan, Dan Profitabilitas Pada Perusahaan Manufaktur Indonesia

Purwoto, Lukas

doi:10.24034/j25485024.y2019.v3.i1.4041

Cited by 5 publications

(12 citation statements)

References 18 publications

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“…The dependent variable in this study is the company's performance which will be measured by Return on Equity (ROE). ROE is a popular measure from the view of shareholders (Purwoto, 2019).…”

Section: Methodsmentioning

confidence: 99%

“…Working capital management will be measured using the Net Trade Cycle (NTC). NTC is basically the same as CCC, which in NTC all three components are expressed the same as a percentage of sales (Shin & Soenen, 1998;Purwoto, 2019). Therefore, the NTC indicates the average number of days required by the company to fund working capital.…”

Section: Methodsmentioning

confidence: 99%

“…The result is that a dummy variable for financial constraints is created. So, the following proxies are applied for the presence of financial constraints (Purwoto, 2019): CF = 0, if cash flow > median = 1, if cash flow < median This study uses five control variables following Purwoto's (2019) research which consists of: Firm size (SIZE), Leverage (LEV), Current ratio (CR), Asset tangibility (AT), Company age (AGE). For more details Figure 1 is showing the research model.…”

Section: Methodsmentioning

confidence: 99%

“…Working capital management (WCM) is the management of short-term company funds such as management of current assets, current debt, and funding of current assets (Purwoto, 2019). Working capital management plays a more important role during a crisis than during a strong economy where working capital management is more involved in the company's financial planning (Kademi et al, 2017).…”

Section: Introductionmentioning

confidence: 99%

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Exploring Working Capital Management and Performance of Manufacturing Firms in Indonesia

2022

QAS

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The economic recession in Indonesia at 2020 as impact of the Covid-19 outbreak has affected human life in all aspects. Firms must survive in carrying out their economic activities, including in managing working capital. It is important for managers to manage the use of their funds, especially in times of crisis. This study aims to determine how important role of working capital management (WCM) affects the performance of manufacturing firms in Indonesia. The research will also analyze whether financial constraints have an effect on improving WCM and company performance. WCM is measured by NTS, firm performance is measured by ROE, and financial constraint is measured by cash flow. This study also use variable control it is Size, Lev, CR, AT and Age. All data all data is processed using panel data regression through Eviews software. Sample in this study are manufacturing firms in Indonesia that listed in IDX between 2018-2020. The results show that working capital management has a significant positive effect on the performance of manufacturing firms in Indonesia. For financial constraints it is partially affect the company's performance significantly negative, meanwhile financial constraints negatively moderate the relationship between working capital management and company performance, but not significant. The results of this study could be a useful information for companies to make decisions in managing the company's working capital, especially facing the crisis amid the Covid-19 pandemic.

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“…The dependent variable in this study is the company's performance which will be measured by Return on Equity (ROE). ROE is a popular measure from the view of shareholders (Purwoto, 2019).…”

Section: Methodsmentioning

confidence: 99%

Section: Methodsmentioning

confidence: 99%

Section: Methodsmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

See 2 more Smart Citations

Exploring Working Capital Management and Performance of Manufacturing Firms in Indonesia

2022

QAS

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“…Makin cepat tingkat pertumbuhan perusahaan makin besar dana yang dibutuhkan, makin besar kesempatan untuk memperoleh keuntungan, makin besar bagian dari pendapatan yang ditahan dalam perusahaan (Nailufar et al, 2018;Puspitadewi & Rahyuda, 2016). Selain itu, semakin tinggi hasil pengembalian atas ekuitas berarti semakin tinggi pula jumlah laba bersih yang dihasilkan dari setiap rupiah dana yang tertanam dalam ekuitas (Nurlita & Pratiwi, 2020;Purwoto, 2019). Sebaliknya, semakin rendah hasil pengembalian atas ekuitas berarti semakin rendah pula jumlah laba bersih yang dihasilkan dari setiap rupiah dana yang tertanam dalam ekuitas.…”

Section: Pendahuluanunclassified

Ukuran Perusahaan, Return on Equity (ROE), Debt to Equity Ratio (DER), dan Operating Leverage (DOL) terhadap Perataan Laba pada Perusahaan Food and Beverages yang Terdaftar di Bursa Efek Indonesia

Panjaitan

Afiezan

2021

j. p pengembangan sains h.

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Perusahaan yang mempunyai operating leverage tinggi akan mengalami peningkatan persentase yang besar dalam labanya jika terjadi sedikit saja peningkatan dalam penjualan Penelitian ini bertujuan untuk menganalisis ukuran perusahaan, return on equity (ROE), debt to equity ratio (DER), serta oeparting leverage pada perataan laba di perusahaan food and beverage pada Bursa Efek Indonesia total 50 perusahaan tahun 2016-2019. Teknik penentuan sampel pada riset ini memakai teknik purposive sampling, maka data akhir digunakan adalah 10 perusahaan. Metode pengumpulan data pada penelitian yaitu studi dokumentasi. Teknik analisis regresi linear berganda dipakai pada observasi ini. Berdasarkan pengolahan data koefisien determinasi, ditemukan nilai Adjusted R Square adalah 49,9%. Hasil studi menggambarkan jika ukuran perusahaan, return on equity, debt to equity ratio, operating leverage serta firm size memiliki pengaruh secara bersamaan serta signifikan pada nilai perusahaan di food and beverage yang tertera pada Bursa Efek Indonesia periode 2016 -2019. Secara parsial ukuran perusahaan berpengaruh positif signifikan terhadap perataan laba, return on equity memiliki pengaruh positif signifikan terhadap perataan laba, debt to equity berpengaruh positif signifikan terhadapn perataan laba, dan operating leverage memiliki pengaruh positif signifikan terhadap perataan laba pada perusahaan food and beverage di BEI tahun 2015-2019. Implikasi penelitian ini diharapkan dapat memberikan dampak pada peningkatan laba perusahaan.

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Working Capital Requirements in Indonesia: Determining Factors, Adjustment Speed, and Financial Constraints

Purwoto¹

2021

JASET

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Working capital behavior has attracted the attention of researchers in relation to company development and the financial environment. This study aims to investigate the determinants and speed of target adjustment of working capital requirements and to examine whether financial constraints lead to differences in target adjustment behavior. The sample consists of public companies in Indonesia for the 2011-2018 period. The results show that sales growth, leverage, size, operating cash flow, age, and fixed assets have a significant effect on working capital requirements. By applying the GMM system from the dynamic panel model, this study also demonstrates that companies have a target level of working capital. Moreover, this study shows that companies that do not experience financial constraints make adjustments to the target, but this does not happen to companies that experience financial constraints. The adjustment behavior of optimal working capital is highly dependent on the company's financial constraints.

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Manajemen Modal Kerja, Kendala Keuangan, Dan Profitabilitas Pada Perusahaan Manufaktur Indonesia

Cited by 5 publications

References 18 publications

Exploring Working Capital Management and Performance of Manufacturing Firms in Indonesia

Exploring Working Capital Management and Performance of Manufacturing Firms in Indonesia

Ukuran Perusahaan, Return on Equity (ROE), Debt to Equity Ratio (DER), dan Operating Leverage (DOL) terhadap Perataan Laba pada Perusahaan Food and Beverages yang Terdaftar di Bursa Efek Indonesia

Working Capital Requirements in Indonesia: Determining Factors, Adjustment Speed, and Financial Constraints

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