PENGARUH PENGELOLAAN MODAL KERJA dan STRUKTUR MODAL TERHADAP PROFITABILITAS PERUSAHAAN (Analisis Pada Perusahaan Manufaktur Sektor Aneka Industri dan Industri Barang Konsumsi Yang Terdaftar di Bursa Efek Indonesia Periode 2007-2011)

Abstract

The purpose of this research is analyzing the influence of cash turnover, inventory turnover, current ratio and debt to equity ratios on profitability measured by ROI. This research compared two sectors, miscellaneous industry sector and consumer goods sector in the manufacturing companies listed in Indonesia Stock Exchange during 2007-2011. The sampling method was purposive sampling, and acquired 26 companies consisting of 14 manufacturing companies of miscellaneous industry sector and 12 manufacturing companies of consumer goods industry sector. Data analyzed using multiple linear regression analysis including descriptive statistics test, classic assumptions test, goodness of fit test, and the last is use of different test (chow test). Result of analysis showed the manufacture company of miscellaneous industry sector that variable cash turnover, and debt to equity ratios significant on ROI. While the manufacturing sector of the consumer goods industry sector only variable inventory turnover that significantly influence ROI. Results of Chow Test that the value of the calculated F is more than the F table (2.438> 2.29), this indicate a different effect on the profitability at manufacturing companies of miscellaneous industry sector and consumer goods industriy sector