PENGARUH STRUKTUR MODAL DAN WCTO TERHADAP PROFITABILITAS PERUSAHAAN SEMEN DI BEI

Abstract

This research is aimed to find out the influence of capital structure and working capital turnover to the
profitability on cement companies which are listed in Indonesia Stock Exchange. The population of
this research is all cement companies which are listed in Indonesia Stock Exchange in 2011-2015
periods, thw sample collection has been done by using saturated sampling method and 3 companies
have been selected as samples namely PT Holcim Indonesia Tbk, PT Indocement Tunggal Prakarsa
Tbk, dan PT SEMEN INDONESIA (PERSERO) Tbk. The analysis has been conducted by using
multiple linear regressions analysis and hypothesis test has been carried out by using F test, and t test.
The result of this research shows that significance level 0,001 has been obtained by using F test which
means that simultaneously debt to equity ratio and working capital turnover has significant influence
to the profitability so the regressions model in this research is feasible to be analyzed. The result of the
t test shows that debt to equity ratio and working capital turnover has an influence to the profitability
of the company.

Keywords : debt to equity ratio, working capital turnover, return on asset.