PENGARUH MANAJEMEN MODAL KERJA, LIKUIDITAS, LEVERAGE DAN PROFITABILITAS TERHADAP IMBAL HASIL KEPADA PEMEGANG SAHAM PADA PERUSAHAAN PULP AND PAPER YANG TERDAFTAR DI BURSA EFEK INDONESIA

WULANINGRUM, DIAS (2018) PENGARUH MANAJEMEN MODAL KERJA, LIKUIDITAS, LEVERAGE DAN PROFITABILITAS TERHADAP IMBAL HASIL KEPADA PEMEGANG SAHAM PADA PERUSAHAAN PULP AND PAPER YANG TERDAFTAR DI BURSA EFEK INDONESIA. S2 thesis, Universitas Mercu Buana Jakarta.

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Abstract

This research aims to examine and analyze the effect of working capital management, liquidity, leverage and profitability to returns to shareholders. Research data is the annual data for the observation period of 2009 to 2016. Sampling method used is purposive sampling. There are seven pulp and paper companies that meet the criteria as research samples. The method of analysis used in this research is panel data regression. The results showed that working capital management, liquidity, leverage and profitability together (simultaneously) significantly influence the yield to shareholders. The return to shareholders is proxyed with Return On Equity (ROE). Partially, working capital management with Cash Conversion Cycle (CCC) and leverage proxyed by Debt Equity Ratio (DER) have a significant negative effect on returns to shareholders. Profitability is proxyed with Return On Assets (ROA) and firm size that is proxy with sales have a significant positive effect on returns to shareholders. Liquidity proxies with Current Ratio (CR) have no effect on returns to shareholders. Profitability is the greatest variable of influence on returns to shareholders. Keywords: working capital management, Cash Conversion Cycle, liquidity, Current Ratio, leverage, Debt Equity Ratio, profitability, Return On Asset, firm size, Return On Equity Penelitian ini bertujuan menguji dan menganalisis pengaruh manajemen modal kerja, likuiditas, leverage dan profitabilitas terhadap imbal hasil kepada pemegang saham. Data penelitian merupakan data tahunan untuk periode observasi tahun 2009 hingga 2016. Metode sampling yang digunakan adalah purposive sampling. Terdapat tujuh perusahaan pulp and paper yang memenuhi kriteria sebagai sampel penelitian. Metode analisis yang digunakan dalam penelitian ini adalah regresi data panel. Hasil penelitian menunjukkan manajemen modal kerja, likuiditas, leverage dan profitabilitas secara bersama-sama (simultan) berpengaruh secara signifikan terhadap imbal hasil kepada pemegang saham. Imbal hasil kepada pemegang saham diproksi dengan Return On Equity (ROE). Secara parsial manajemen modal kerja yang diproksi dengan Cash Conversion Cycle (CCC) dan leverage yang diproksi dengan Debt Equity Ratio (DER) berpengaruh signifikan negatif terhadap imbal hasil kepada pemegang saham. Profitabilitas yang diproksi dengan Return On Asset (ROA) dan firm size yang diproksi dengan penjualan berpengaruh signifikan positif terhadap imbal hasil kepada pemegang saham. Likuiditas yang diproksi dengan Current Ratio (CR) tidak berpengaruh terhadap imbal hasil kepada pemegang saham. Profitabilitas merupakan variabel yang paling besar pengaruhnya terhadap imbal hasil kepada pemegang saham. Kata kunci : manajemen modal kerja, Cash Conversion Cycle, likuiditas, Current Ratio, leverage, Debt Equity Ratio, profitabilitas, Return On Asset, firm size, Return On Equity

Item Type: Thesis (S2)
Call Number CD: CD/551. 18 085
Call Number: TM/51/18/167
NIM: 55114120143
Uncontrolled Keywords: manajemen modal kerja, Cash Conversion Cycle, likuiditas, Current Ratio, leverage, Debt Equity Ratio, profitabilitas, Return On Asset, firm size, Return On Equity
Subjects: 000 Computer Science, Information and General Works/Ilmu Komputer, Informasi, dan Karya Umum > 020 Library and Information Sciences/Perpustakaan dan Ilmu Informasi > 025 Operations, Archives, Information Centers/Operasional Perpustakaan, Arsip dan Pusat Informasi, Pelayanan dan Pengelolaan Perpustakaan > 025.1 Administration and Library Management/Administrasi dan Manajemen Perpustakaan > 025.11 Finance/Keuangan
600 Technology/Teknologi > 650 Management, Public Relations, Business and Auxiliary Service/Manajemen, Hubungan Masyarakat, Bisnis dan Ilmu yang Berkaitan > 657 Accounting/Akuntansi
600 Technology/Teknologi > 650 Management, Public Relations, Business and Auxiliary Service/Manajemen, Hubungan Masyarakat, Bisnis dan Ilmu yang Berkaitan > 657 Accounting/Akuntansi > 657.3 Financial Reporting (Financial Statements)/Laporan Keuangan
600 Technology/Teknologi > 650 Management, Public Relations, Business and Auxiliary Service/Manajemen, Hubungan Masyarakat, Bisnis dan Ilmu yang Berkaitan > 657 Accounting/Akuntansi > 657.3 Financial Reporting (Financial Statements)/Laporan Keuangan > 657.32 Preparing Financial Statements/Menyiapkan Laporan Keuangan
600 Technology/Teknologi > 650 Management, Public Relations, Business and Auxiliary Service/Manajemen, Hubungan Masyarakat, Bisnis dan Ilmu yang Berkaitan > 657 Accounting/Akuntansi > 657.4 Specific Fields of Accounting/Bidang Akuntansi Tertentu
600 Technology/Teknologi > 650 Management, Public Relations, Business and Auxiliary Service/Manajemen, Hubungan Masyarakat, Bisnis dan Ilmu yang Berkaitan > 657 Accounting/Akuntansi > 657.4 Specific Fields of Accounting/Bidang Akuntansi Tertentu > 657.48 Analytical (Financial) Accounting/Analisis (Keuangan) Akuntansi
700 Arts/Seni, Seni Rupa, Kesenian > 720 Architecture/Arsitektur > 725 Public Structures Architecture/Arsitektur Struktur Umum > 725.2 Commercial and Communication Buildings/Arsitektur Gedung Perdagangan dan Komunikasi > 725.24 Financial Institutions/Lembaga Keuangan
Divisions: Pascasarjana > Magister Manajemen
Depositing User: Dede Muksin Lubis
Date Deposited: 29 Oct 2018 01:16
Last Modified: 07 Nov 2018 02:35
URI: http://repository.mercubuana.ac.id/id/eprint/45289

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