Pengaruh Perputaran Modal Kerja Terhadap Profitabilitas Perusahaan (Studi Pada Perusahaan Manufaktur yang Terdaftar di Bursa Efek Indonesia tahun 2008-2012)
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Every company aims to gain profitability. To increase profitability, a company can enlarge the quantity of production that can be sold. One of the most important factors of production is working capital which is used by company to finance its operations in order to guarantee its sustainability. This research was intended to identify the effect of working capital turnover on profitability at manufacturing companies listed at Indonesia Stock Exchange (BEI). The research collected time series data in the form of financial statements in period 2008 to 2012. Data was collected by documentation. Data were obtained from Indonesia Stock Exchange website (Internet Data Exchange/IDX). The research results showed that the variable of working capital turnover (WCT) affected profitability. It can be seen from tstatistic > ttable (-4.467 > 1.969) by significance level of 0.000 < 0.05. The data analysis indicated the effect of the variable of working capital turnover (WCT) on Return on Assets (ROA) was negative. This can be evidenced from the value of WCT variable which was -0.337. This finding accepted hypothesis which stated that working capital turnover affected profitability of manufacture companies listed at BEI.
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