PENGARUH MANAJEMEN MODAL KERJA TERHADAP PROFITABILITAS DENGAN KOMISARIS INDEPENDEN SEBAGAI VARIABEL MODERASI

Abstract

This research aimed to analyze the effect of work capital on profitability and also analyze the independent commissionaire to moderate the effect of work capital management on the company’s profitability. The research was quantitative with the consumer goods sub-sector companies in the 2017-2020 periods as the tax object. Furthermore, the data collection technique used purposive sampling, in which the sample was based on the criteria given. In line with that, there were 51 companies or 204 samples during 4 years of observation. Moreover, the data were secondary in form of annual reports of consumer goods sub-sector companies in 2017-2020. The instrument in the data collection technique used documentation taken from the official website of The Indonesia Stock Exchange. Additionally, the data analysis technique used moderate regression analysis with the SPSS. The research result indicated that work capital management had a positive and significant effect on the profitability. Likewise, the independent commissionaire had strengthened the work capital management on the profitability at the consumer goods sub-sector companies in the 2017-2020 periods.