PENGARUH PERPUTARAN KAS DAN PERPUTARAN PIUTANG TERHADAP PROFITABILITAS PERUSAHAAN TELEKOMUNIKASI DI BEI

Abstract

The research aimed to examine the effect of cash flow and account receivable turnover on the profitability of telecommunication companies on Indonesia Stock Exchange. The research was quantitative. While the data collection technique used saturated sampling which used all population of telecommunication companies and were listed on Indonesia Stock Exchange. Those companies namely PT Telekomunikasi Indonesia Tbk, PT Bakrie Telecom Tbk, PT Indosat Tbk, PT Smartfren Tbk, and PT XL Axiata Tbk. Moreover, the data was secondary with five years observation (2012-2017). In line with, the data were in the form of financial statement. In addition, the data analysis technique used multiple linier regression with SPSS 22. The research result concluded cash flow had insignificant on the profitability. On the other hand, account receivable turnover had significant effect on the profitability. Low cash turnover shows that companies are less efficient in using cash. Although cash turnover does not have a direct impact on profitability. Account receivable turnover has a significant effect on telecommunications companies on the Indonesia Stock Exchange. High cash turnover shows that the company gets results from credit transactions in a fast period, so that it can affect the increase in profitability
Keywords: Profitability, cash flow, account receivable turnover