PENGARUH MANAJEMEN PERSEDIAAN, KEBIJAKAN HUTANG, DAN LIKUIDITAS TERHADAP PROFITABILITAS

Abstract

The rapid growth of the pharmaceutical industry undoubtedly impacts the profitability of pharmaceutical companies. Therefore, research on the effect of inventory management, debt policy, and liquidity on profitability in pharmaceutical companies is crucial to provide a better understanding of the factors influencing their profitability. This study aims to determine the effect of inventory management, debt policy, and liquidity on profitability in pharmaceutical companies listed on the Indonesia Stock Exchange between 2018 and 2022. This study uses a quantitative approach. The sampling technique used is purposive sampling. The sample population is 10 pharmaceutical companies listed on the Indonesia Stock Exchange between 2018 and 2022. The data used in this study is secondary data. Data collection techniques include documentation of the financial reports of pharmaceutical companies listed on the Indonesia Stock Exchange for 2018–2022. The analysis technique uses multiple regression analysis. The results of the analysis conclude that inventory management, as proxied by inventory turnover, does not significantly affect profitability. Debt policy, as proxied by the debt-to-assets ratio, has a significant negative effect on profitability, while liquidity, as proxied by the current ratio, has no significant effect on profitability.