Sari, Aprilia Ayunita (2019) Pengaruh Manajemen Modal Kerja Agresif terhadap Profitabilitas Perusahaan Sektor Infrastruktur, Utilitas, dan Transportasi. Other thesis, Institut Teknologi Sepuluh Nopember.
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Abstract
Sektor infrastruktur, utilitas dan transportasi merupakan sektor yang memiliki kontribusi utama dalam mendorong pertumbuhan ekonomi negara Indonesia. Salah satu permasalahan besar dalam sektor ini adalah pendanaan, salah satunya berkaitan dengan modal kerja. Sedangkan sektor infrastruktur, utilitas dan transportasi membutuhkan modal kerja yang tinggi untuk pemenuhan operasional perusahaan. Modal kerja yang tinggi akan berdampak positif berupa peningkatan dalam profitabilitas, di sisi lain terlalu banyak aktiva lancar juga berdampak negatif berupa peningkatan pendanaan jangka pendek dan kemampuan perusahaan dalam memenuhi kewajiban yang jatuh tempo. Optimalisasi modal kerja memainkan peran penting bagi perusahaan dalam menjaga keseimbangan antara likuiditas dan profitabilitas. Profitabilitas menjadi salah satu faktor penting dalam perusahaan karena menggambarkan baik buruknya kinerja perusahaan dalam efektifitas penggunaan sumber daya untuk memperoleh laba. Penelitian ini bertujuan untuk menganalisis pengaruh manajemen modal kerja agresif dengan variabel kebijakan modal kerja dan efisiensi modal kerja terhadap profitabilitas perusahaan sektor infrastruktur, utilitas, dan transportasi di Indonesia. Dalam penelitian ini, profitabilitas diproksikan dengan return on assets, efisiensi modal kerja diproksikan dengan cash conversion cycle dan kebijakan modal kerja diproksikan dengan kebijakan pembiayaan agresif dan kebijakan investasi agresif. Metode dalam penelitian ini adalah regresi data panel dengan sampel sebanyak 36 perusahaan sektor infrastruktur, utilitas dan transportasi yang terdaftar di Bursa Efek Indonesia tahun 2014 hingga tahun 2017. Pengolahan data dalam penelitian menggunakaan software Eviews 9. Hasil penelitian menunjukkan bahwa kebijakan pembiayaan agresif dan kebijakan investasi agresif berpengaruh signifikan dan berhubungan negatif terhadap profitabilitas perusahaan sektor infrastruktur, utilitas dan transportasi. Sedangkan cash conversion cycle tidak memiliki pengaruh terhadap profitabilitas perusahaan sektor infrastruktur, utilitas dan transportasi.
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The infrastructure, utilities, and transportation sectors are sectors that have major contributions in driving economic growth in the country of Indonesia. One of the big problems in this sector is funding, which is related to working capital. Whereas the sectors require high working capital to fulfill company operations. High working capital will have a positive impact in the form of an increase in profitability. On the other hand, too many current assets also have a negative impact in the form of increasing short-term funding and the company's ability to meet maturing obligations. Optimization of working capital plays an important role for companies in maintaining a balance between liquidity and profitability. Profitability is one of the important factors because it describes the bad and good performance of the company related to the effective use of resources to make profit. This study aims to analyze the influence of aggressive working capital management with working capital policy variables and working capital efficiency on the profitability of companies in the infrastructure, utilities, and transportation sectors in Indonesia. In this study, profitability is proxied by return on assets, the efficiency of working capital is proxied by the cash conversion cycle and working capital policies are proxied by aggressive financing policies and aggressive investment policies. The method in this study is panel data regression with a sample of 36 infrastructure, utility, and transportation sector companies listed on the Indonesia
Stock Exchange in 2014 until 2017. Data was processed using software Eviews 9. The results show that aggressive financing policies and investment policies aggressively has a significant effect and is negatively related to the profitability of companies in the infrastructure, utilities and transportation sectors. Whereas the cash conversion cycle does not influence the profitability of companies in the infrastructure, utilities and transportation sectors.
| Item Type: | Thesis (Other) |
|---|---|
| Additional Information: | RSMB 658.301 Sar p-1 |
| Uncontrolled Keywords: | Modal Kerja Agresif, Profitabilitas, Regresi Data Panel, Sektor Infrastruktur, Utilitas, dan Transportasi |
| Subjects: | H Social Sciences > HG Finance H Social Sciences > HG Finance > HG4028.V3 Valuation. Economic value |
| Divisions: | Faculty of Creative Design and Digital Business (CREABIZ) > Business Management > 61205-(S1) Undergraduate Thesis |
| Depositing User: | Sari Aprilia Ayunita |
| Date Deposited: | 27 Mar 2025 05:33 |
| Last Modified: | 27 Mar 2025 05:33 |
| URI: | http://repository.its.ac.id/id/eprint/67709 |
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