PENGARUH MODAL KERJA TERHADAP RETURN ON ASSET PADA SEKTOR PERUSAHAAN MAKANAN DAN MINUMAN YANG TERDAFTAR DI BURSA EFEK INDONESIA

Rudiyanto Rudiyanto, Eem Suhemah

Abstract


Working capital is short-term assets were used to finance the company's daily operations, where the money or the funds expended were expected to come back into the company in a short time through the sale of its products. While the Return On Asset Describing exchanged asset turnover of sales volume. The larger the ratio, the better. This means that the assets can be quickly spun and profit.

     The purpose of this study was to determine the effect of working capital on Return On Assets (ROA) In the Food and Beverage companies listed on the Indonesian Stock Exchange (BEI).

     Population of this research is the Food and Beverage Company listed on the Indonesia Stock Exchange (BEI), sample collection method used is purposive sampling and obtained 9 companies as samples. the method used is the analysis of simple linear regression, correlation analysis, coefficient of determination and t test.

     Based on the regression calculation has been done linerar result of the linear regression equation is Y = 1.05 + x. Constant of 1.05 means that if the value of the variable working capital is zero then the amount of return on assets of 1.05, while the correlation calculations showed that the correlation coefficient of 0.045. these values are in the very low category, by calculating the coefficient of determination obtained a value of 19.86%. This value also indicates that 19.86% rerturn On Asset (ROA) can be explained by the working capital, while the remaining 80.14% influenced by other factors such as inventory, accounts receivable turnover and so forth.

     Based on the results of the above calculation of working capital is at PT.Indofood highest Sukses Makmur Tbk (INDF). In 2012 this was due to current assets is greater than the current debts. While On ratios Return on Assets (ROA) was highest at Sea PT.Sekar Tbk. in 2013 this means the rate of return of 1.88 from the sale of assets. by t test Ho accepted meaning no effect on the working capital Return on Assets (ROA).


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