PENGARUH PERPUTARAN MODAL KERJA TERHADAP TINGKAT PROFITABILITAS PADA SUBSEKTOR KERAMIK, PORSELEN, DAN KACA YANG TERDAFTAR DI BURSA EFEK INDONESIA

Abstract

The purpose of this study is to determine the effect of working capital turnover and profitability in ceramics, porcelains, and glass subsector listed on the stock exchange. The analysis of data is used Statistical Product and Service Solution (SPSS) program, simple linear regression analysis, coefficient of determination, and significance test.
The result of this study is based on the first and the second semester of working capital turnover from 2010 to 2013 shows that PT Surya Toto Indonesia, Tbk. is the best in utilizing available working capital. Based on study result, the effect of working capital turnover have positive and negative relation toward profitability. The positive relations are operating profit margin, net profit margin, rate of return on total assets, and rate of return on investment. Whereas operating ratio have negative relation. This study concludes that working capital turnover does not have significant influence toward profitability based on t test.
Key point: Working Capital Turnover and Profitability