PENGARUH KEBIJAKAN MODAL KERJA DAN LEVERAGE TERHADAP PROFITABILITAS PADA PERUSAHAAN MAKANAN DAN MINUMAN DI BEI

Abstract

Companies management needs to maximize the profitability with funds policy of working capital. Hense, there will be a balance of funding in the company. This research aimed to examine the effect of working capital which was measured by Aggressive Investment Policy (AIP), Aggressive Financial Policy (AFP) and leverage which was measured Debt to Asset Ratio (DAR) on the profitability which was measured by Return On Asset (ROA). The sample was eleven Food and Beverages companies which were listed on Indonesia Stock Exchange from 2013 to 2017. While, the data analysis technique used multiple linear regression, classical assumption test, proper model test, and hypothesis test with SPSS 22. The research result concluded the Aggressive Investment Policy (AIP) dan Aggressive Financial Policy (AFP) had significant effect on the profitability (ROA). On the other hand, Debt to Asset Ratio (DAR) did not have significant effect on the profitability (ROA). Managers are expected to be careful in taking policies that will be carried out for the smooth operations of the company.
Keywords: aggressive investment policy, aggressive financing policy, leverage, profitability.