PENGARUH PERPUTARAN MODAL KERJA, PIUTANG DAN PERSEDIAAN TERHADAP PROFITABILITAS PERUSAHAAN FARMASI

Abstract

This research is aimed to test and to find out the influence of working capital turnover, account receivable turnover and inventory turnover to the profitability of pharmaceutical companies which are listed in Indonesia Stock Exchange. The population is 10 pharmaceutical companies and 9 pharmaceutical companies which are listed in Indonesia Stock Exchange have been selected as samples. The sample collection method has been done by using purposive sampling method. The data is the financial statements of pharmaceutical companies in 2012-2016 periods. The data analysis techniques have been carried out by using multiple linear regression analysis. The research data has been processed by using 22nd version SPSS application tool. Based on the results of F test shows that working capital turnover, account receivable turnover and inventory turnover give significant influence to the profitability. Meanwhile, based on the result of t-test, it indicates that only working capital turnover which give significant influence to the profitability and other variables i.e. account receivables turnover and the inventory turnover does not give any significant influence to the profitability in pharmaceutical companies which are listed in Indonesia Stock Exchange in 2012-2016 periods.
Keywords: Working capital turnover, account receivable turnover, inventory turnover and profitability