ANALISIS PENGARUH CURRENT RATIO, INVENTORY TURNOVER, DEBT TO EQUITY RATIO, DAN SIZE TERHADAP PROFITABILITAS (Studi pada Perusahaan Food and Beverage dan Perusahaan Consumer Goods yang Listed di BEI Periode Tahun 2005-2007)

Abstract

ABSTRACT This study is performed to examine the effect of Current Ratio, Inventory Turnover, Debt to Equity Ratio (DER), and Size toward Return on Asset (ROA) in food beverage and consumer goods companies those are listed in Indonesian Stock Exchange (ISX). The objective of this study is to scale and analyze the effect of the companies financial ratios performance (Current Ratio, Inventory Turnover, DER, Size) toward ROA in food beverage and consumer goods companies that is listed in ISX over period 2005-2007. Sampling technique used here is purposive sampling on criterion the food beverage and consumer goods company that represents their financial report per December 2005-2007. The data is obtained based on Indonesian Capital Market Directory (ICMD 2008) publication. It is gained sample amount of 22 companies from 23 companies those are listed in Indonesian Stock Exchange. The analysis technique used here is multiple regression with the least square difference and hypothesis test using t-statistic to examine partial regression coefficient and fstatistic to examine the mean of mutual effect with level of significance 5%. In addition, classical assumption is also performed including normality test, multicolinearity test, heteroscedasticity test and autocorrelation test. Chow test used to examine difference between the food and beverage and consumer goods companies performance. From the analysis result, it indicates that Inventory Turnover and DER variable partially significant toward ROA of the food and beverage companies in ISX on 2005-2007 period on the level of significance less than 5%. Inventory Turnover and Size variable partially significant toward ROA of the consumer goods companies in ISX on 2005-2007 period on the level of significance less than 5%, while it indicates that Current Ratio variable partially not significant toward ROA of the food and beverage and consumer goods company in ISX on 2005-2007 period on the level of significance more than 5%. Based on result examination of hypothesis 9 shows that has difference between companies performance which the food and beverage and consumer goods in deciding policy of ROA. Keywords: Current Ratio, Inventory Turnover, Debt to Equity Ratio, Size, and Return on Asset (ROA) ABSTRAK Penelitian ini dilakukan untuk menguji pengaruh variabel Current Ratio, Inventory Turnover, Debt to Equity Ratio (DER), dan Size terhadap Return on Asset (ROA) pada perusahaan food and beverage dan consumer goods yang terdaftar di Bursa Efek Indonesia (BEI) periode 2005-2007. Teknik sampling yang digunakan adalah purposive sampling dengan kriteria perusahaan food and beverage dan consumer goods yang selalu menyajikan laporan keuangan per Desember 2005-2007. Data diperoleh berdasarkan publikasi Indonesian Capital Market Directory (ICMD 2008). Diperoleh jumlah sampel sebanyak 22 perusahaan dari 23 perusahaan food and beverage dan consumer goods yang terdaftar di BEI. Teknik analisis yang digunakan adalah regresi berganda dengan persamaan kuadrat terkecil dan uji hipotesis menggunakan tstatistik untuk menguji koefisien regresi parsial serta f-statistik untuk menguji keberartian pengaruh secara bersama-sama dengan level of significance 5%. Selain itu juga dilakukan uji asumsi klasik yang meliputi uji normalitas, uji multikolinieritas, uji heteroskedastisitas dan uji autokorelasi serta uji beda dengan menggunakan variabel chow test. Dari hasil analisis menunjukkan bahwa variabel Inventory Turnover dan DER secara parsial signifikan terhadap ROA perusahaan food and beverage di BEI periode 2005-2007 pada level of significance kurang dari 5%. Inventory Turnover dan Size secara parsial signifikan terhadap ROA perusahaan consumer goods di BEI periode 2005-2007 pada level of significance kurang dari 5%. Sementara variabel current ratio menunjukkan hasil yang tidak signifikan terhadap ROA perusahaan food and beverage dan consumer goods di BEI periode 2005-2007 pada level of significance di atas 5%. Berdasarkan hasil pengujian hipotesis 9 menunjukkan bahwa ada beda pengaruh variable Inventory, DER dan Size terhadap ROA antara perusahaan food and beverage dan perusahaan consumer goods. Kata Kunci: Current Ratio, Inventory Turnover, Debt to Equity Ratio, Size, dan Return on Asset (ROA)