Pengaruh Receivable Turnover dan Working Capital Turnover terhadap Profitability pada Perusahaan Farmasi yang Terdaftar di BEI Periode 2014-2018

Abstract

This final project research is aimed to determine the effect of Receivable Turnover and Working Capital Turnover on Return On Asset on pharmaceutical companies listed on the Indonesia Stock Exchange in the 2014-2018 period. From that research objectives, the hypothesis proposed in this study are Receivable Turnover (RTO) and Working Capital Turnover (WCTO) simultaneously and partially have a significant effect on profitability (ROA) of pharmaceutical companies listed on the Indonesia Stock Exchange.  The techniques are used in this research is Purposive Sampling and obtained 7 Pharmaceutical Companies on the Indonesia Stock Exchange which were used as research samples. Secondary data are used  in the form of company annual financial statements. The research method used are descriptive and quantitative research. The test is done by panel data regression method which is processed using eviews 10. The selected panel data regression method is the Fixed Effect Model. The results showed that simultaneously Receivable Turnover (RTO) and Working Capital Turnover (WCTO) had a significant effect on profitability (ROA) of pharmaceutical companies listed on the Indonesia Stock Exchange. The partial results showed that Receivable Turnover (RTO) had a significant negative effect on profitability (ROA) while Working Capital Turnover (WCTO) had no significant effect on profitability (ROA) for pharmaceutical companies listed on the Indonesia Stock Exchange.