PENGARUH MANAGEMENT WORKING CAPITAL TERHADAP KINERJA KEUANGAN PERUSAHAAN AGRICULTURE YANG TERDAFTAR DI BURSA EFEK INDONESIA
Abstract
Penelitian ini mengkaji hubungan antara kinerja keuangan dan kerja praktik manajemen modal kerja perusahaan agrikultur di Indonesia yang terdaftar di Bursa Efek Indonesia. Sampel penelitian terdiri dari panel 21 perusahaan agrikultur di Indonesia untuk periode 2018-2022. Manajemen modal kerja diproksikan berdasarkan Average Age of Inventory (AAI), Average Collection Period (ACP), dan Average Payment Period (APP), sementara kinerja keuangan diproksikan oleh Net Operating Profit Margin (NOPM) dan Return on Asset (ROA). Temuan utama dari studi ini memuat hal-hal berikut: (1) Terdapat hubungan positif antara usia rata-rata persediaan dan kondisi Covid-19 dengan NOPM. (2) Usia rata-rata persediaan konsisten mempengaruhi NOPM. (3) Hubungan positif antara kondisi Covid-19 dan ukuran perusahaan dengan ROA. Studi ini menyimpulkan bahwa praktik manajemen modal kerja mempengaruhi kinerja keuangan perusahaan agrikultur di Indonesia. Disarankan agar perusahaan agrikultur di Indonesia mengamati praktik manajemen modal kerja yang optimal dan bijaksana, karena hal ini mempengaruhi kinerja keuangan perusahaan.
References
Abdul Rahman Shaik, A. A. (2023). Working Capital and Financial Performance in the Energy Sector of Saudi Arabia: Moderating Role of Leverage. International Journal of Energy Economics and Policy, ISSN: 2146-4553.
Aldo Hartawan, S. R. (2019). Pengaruh Manajemen Modal Kerja dan Struktur Modal Terhadap Kinerja Keuangan. LPMP Imperium, Vol 1, No.2, Desember 2019, pp. 121-130, eISSN: 2685-2888.
Anton, Sorin Gabriel, and Anca Elena Afloarei Nucu. 2021. The Impact of Working Capital Management on Firm Profitability: Empirical Evidence from the Polish Listed Firms. Journal of Risk and Financial Management 14: 9. https://dx.doi.org/10.3390/jrfm14010009.
Ardi Ahmeti, Y. A. (2022). The impact of working capital management on SME profitability – evidence from Kosovo. Preliminary communication, Vol. 40 • No. 2 • 459-478, https://doi.org/10.18045/zbefri.2022.2.459.
Audina, Y., & Lestari, U. P. (2021). Penerapan Activity Based Costing untuk meningkatkan profitabilitas perusahaan. Jurnal Riset dan Aplikasi: Akuntansi dan Manajemen, 5(1).
Dancan O. Othuon a, K. K. (2021). Working capital management impacts on small-scale coffee wet mills' financial performance in eastern Kenya. Heliyon, Heliyon 7 (2021) e07887.
Ferli, O. (2023). Financial Literacy for Better Access to Finance, Financial Risk Attitude, and Sustainability of MSMEs in Indonesia. Jurnal Manajemen, 111-122.
Hanifa Bennu Nur, N. K. (2020). Pengaruh Manajemen Modal Kerja Terhadap Profitabilitas Perusahaan Non Keuangan Yang Terdaftar di Bursa Efek Indonesia. Wacana, Vol. 19, No. 2 (2016), ISSN : 1411-0199, E-ISSN : 2338-1884.
Kipronoh, T. M. (2018). Effect of Working Capital Management on the Financial Performance: Evidence of Construction and Allied Sector Firms Listed at Nairobi Securities Exchange. Research Journal of Finance and Accounting, ISSN 2222-1697 (Paper) ISSN 2222-2847 (Online), Vol.9, No.5, 2018.
Kumagaya, J. P., & SE, M. (2024). Pintu Keberhasilan Finansial: Strategi Modal Kerja untuk Profitabilitas yang Berkelanjutan. MEGA PRESS NUSANTARA.
Lucía Rey-Ares a, S. F.-L.-P. (2021). Impact of working capital management on profitability for Spanish fish canning companies. Marine Policy, Marine Policy 130 (2021) 104583.
Mandipa, Garikai, and Athenia Bongani Sibindi. 2022. Financial Performance and Working Capital Management Practices in the Retail Sector: Empirical Evidence from South Africa. Risks 10: 63. https://doi.org/10.3390/ risks10030063
Mutiara Lusiana Annisa, R. S. (2022). Analisis Modal Kerja pada Industri Telekomunikasi di Indonesia. Owner: Riset & Jurnal Akuntansi, e –ISSN : 2548-9224 | p–ISSN : 2548-7507, Volume 6 Nomor 3, Juli 2022, https://doi.org/10.33395/owner.v6i3.891.
Nasya Ariesta Firdaus, (2022). Analisis Modal Kerja Terhadap Profitabilitas Perusahaan Sub Sektor Kimia di Indeks Saham Syariah. Journal of Applied Islamic Economics and Finance 2(2):399-407, DOI:10.35313/jaief.v2i2.3017
Rezart Demiraj, S. D. (2022). Working Capital Management Impact on Profitability: Pre-Pandemic and Pandemic Evidence from the European Automotive Industry. Risks, Industry. Risks 10: 236. https://doi.org/10.3390/risks10120236.
Rezki Erdian, H. S. (2022). Pengaruh Manajemen Modal Kerja terhadap Profitabilitas Perusahaan Ritel Indonesia: Peran Moderasi Makroekonomi. Jurnal Aplikasi Manajemen dan Bisnis, Vol. 8 No.2, Mei 2022, Permalink/DOI: http://dx.doi.org/10.17358/jabm.8.2.620.
Sandip Dhole, S. M. (2019). Efficient working capital management, financial constraints and firm value: A text-based analysis. Journal Pre-proof, S0927-538X(19)30290-2, https://doi.org/10.1016/j.pacfin.2019.101212, PACFIN 101212.
Sibindi, G. M. (2022). Financial Performance and Working Capital Management Practices in the Retail Sector: Empirical Evidence from South Africa. Journal Pre-proof.
Tareq Mohammad ALMOMANI, M. A. (2021). The Relationship between Working Capital Management and Financial Performance: Evidence from Jordan. Journal of Asian Finance, Economics and Business, Print ISSN: 2288-4637 / Online ISSN 2288-4645, doi:10.13106/jafeb.2021.vol8.no6.0713.
Thiago Alvarez, L. S. (2021). Working Capital Management and Profitability: Evidence from an Emergent Economy. International Journal of Advances in Management and Economics, Vol. 11 | Issue 01| 32-39.
Tsuruta, D. (2019). Working Capital Management during the Global Financial Crisis: Evidence from Japan. Japan and The World Economy, S0922-1425(17)30146-9, https://doi.org/doi:10.1016/j.japwor.2019.01.002, JAPWOR 952.
Yudistira, E. M., & Pangestuti, I. R. D. (2023). ANALISIS PENGARUH MANAJEMEN MODAL KERJA TERHADAP PROFITABILITAS PADA PERUSAHAAN SUB SEKTOR MAKANAN DAN MINUMAN YANG TERDAFTAR DI BEI PERIODE 2018-2022. Diponegoro Journal of Management, 12(5).
Witya Shalini, R. C. (2022). Pengaruh Manajemen Modal Kerja, Likuiditas dan Leverage Terhadap Profitabilitas pada Perusahaan Consumer Goods di Bursa Efek Indonesia periode 2017-2020 . Owner: Riset & Jurnal Akuntansi, e –ISSN : 2548-9224 | p–ISSN : 2548-7507, Volume 6 Nomor 2, April 2022.
Zulkarnaen, W., Fitriani, I., & Yuningsih, N. (2020). Pengembangan Supply Chain Management Dalam Pengelolaan Distribusi Logistik Pemilu Yang Lebih Tepat Jenis, Tepat Jumlah Dan Tepat Waktu Berbasis Human Resources Competency Development Di KPU Jawa Barat. Jurnal Ilmiah MEA (Manajemen, Ekonomi, & Akuntansi), 4(2), 222-243. https://doi.org/10.31955/mea.vol4.iss2.pp222-243.
Aldo Hartawan, S. R. (2019). Pengaruh Manajemen Modal Kerja dan Struktur Modal Terhadap Kinerja Keuangan. LPMP Imperium, Vol 1, No.2, Desember 2019, pp. 121-130, eISSN: 2685-2888.
Anton, Sorin Gabriel, and Anca Elena Afloarei Nucu. 2021. The Impact of Working Capital Management on Firm Profitability: Empirical Evidence from the Polish Listed Firms. Journal of Risk and Financial Management 14: 9. https://dx.doi.org/10.3390/jrfm14010009.
Ardi Ahmeti, Y. A. (2022). The impact of working capital management on SME profitability – evidence from Kosovo. Preliminary communication, Vol. 40 • No. 2 • 459-478, https://doi.org/10.18045/zbefri.2022.2.459.
Audina, Y., & Lestari, U. P. (2021). Penerapan Activity Based Costing untuk meningkatkan profitabilitas perusahaan. Jurnal Riset dan Aplikasi: Akuntansi dan Manajemen, 5(1).
Dancan O. Othuon a, K. K. (2021). Working capital management impacts on small-scale coffee wet mills' financial performance in eastern Kenya. Heliyon, Heliyon 7 (2021) e07887.
Ferli, O. (2023). Financial Literacy for Better Access to Finance, Financial Risk Attitude, and Sustainability of MSMEs in Indonesia. Jurnal Manajemen, 111-122.
Hanifa Bennu Nur, N. K. (2020). Pengaruh Manajemen Modal Kerja Terhadap Profitabilitas Perusahaan Non Keuangan Yang Terdaftar di Bursa Efek Indonesia. Wacana, Vol. 19, No. 2 (2016), ISSN : 1411-0199, E-ISSN : 2338-1884.
Kipronoh, T. M. (2018). Effect of Working Capital Management on the Financial Performance: Evidence of Construction and Allied Sector Firms Listed at Nairobi Securities Exchange. Research Journal of Finance and Accounting, ISSN 2222-1697 (Paper) ISSN 2222-2847 (Online), Vol.9, No.5, 2018.
Kumagaya, J. P., & SE, M. (2024). Pintu Keberhasilan Finansial: Strategi Modal Kerja untuk Profitabilitas yang Berkelanjutan. MEGA PRESS NUSANTARA.
Lucía Rey-Ares a, S. F.-L.-P. (2021). Impact of working capital management on profitability for Spanish fish canning companies. Marine Policy, Marine Policy 130 (2021) 104583.
Mandipa, Garikai, and Athenia Bongani Sibindi. 2022. Financial Performance and Working Capital Management Practices in the Retail Sector: Empirical Evidence from South Africa. Risks 10: 63. https://doi.org/10.3390/ risks10030063
Mutiara Lusiana Annisa, R. S. (2022). Analisis Modal Kerja pada Industri Telekomunikasi di Indonesia. Owner: Riset & Jurnal Akuntansi, e –ISSN : 2548-9224 | p–ISSN : 2548-7507, Volume 6 Nomor 3, Juli 2022, https://doi.org/10.33395/owner.v6i3.891.
Nasya Ariesta Firdaus, (2022). Analisis Modal Kerja Terhadap Profitabilitas Perusahaan Sub Sektor Kimia di Indeks Saham Syariah. Journal of Applied Islamic Economics and Finance 2(2):399-407, DOI:10.35313/jaief.v2i2.3017
Rezart Demiraj, S. D. (2022). Working Capital Management Impact on Profitability: Pre-Pandemic and Pandemic Evidence from the European Automotive Industry. Risks, Industry. Risks 10: 236. https://doi.org/10.3390/risks10120236.
Rezki Erdian, H. S. (2022). Pengaruh Manajemen Modal Kerja terhadap Profitabilitas Perusahaan Ritel Indonesia: Peran Moderasi Makroekonomi. Jurnal Aplikasi Manajemen dan Bisnis, Vol. 8 No.2, Mei 2022, Permalink/DOI: http://dx.doi.org/10.17358/jabm.8.2.620.
Sandip Dhole, S. M. (2019). Efficient working capital management, financial constraints and firm value: A text-based analysis. Journal Pre-proof, S0927-538X(19)30290-2, https://doi.org/10.1016/j.pacfin.2019.101212, PACFIN 101212.
Sibindi, G. M. (2022). Financial Performance and Working Capital Management Practices in the Retail Sector: Empirical Evidence from South Africa. Journal Pre-proof.
Tareq Mohammad ALMOMANI, M. A. (2021). The Relationship between Working Capital Management and Financial Performance: Evidence from Jordan. Journal of Asian Finance, Economics and Business, Print ISSN: 2288-4637 / Online ISSN 2288-4645, doi:10.13106/jafeb.2021.vol8.no6.0713.
Thiago Alvarez, L. S. (2021). Working Capital Management and Profitability: Evidence from an Emergent Economy. International Journal of Advances in Management and Economics, Vol. 11 | Issue 01| 32-39.
Tsuruta, D. (2019). Working Capital Management during the Global Financial Crisis: Evidence from Japan. Japan and The World Economy, S0922-1425(17)30146-9, https://doi.org/doi:10.1016/j.japwor.2019.01.002, JAPWOR 952.
Yudistira, E. M., & Pangestuti, I. R. D. (2023). ANALISIS PENGARUH MANAJEMEN MODAL KERJA TERHADAP PROFITABILITAS PADA PERUSAHAAN SUB SEKTOR MAKANAN DAN MINUMAN YANG TERDAFTAR DI BEI PERIODE 2018-2022. Diponegoro Journal of Management, 12(5).
Witya Shalini, R. C. (2022). Pengaruh Manajemen Modal Kerja, Likuiditas dan Leverage Terhadap Profitabilitas pada Perusahaan Consumer Goods di Bursa Efek Indonesia periode 2017-2020 . Owner: Riset & Jurnal Akuntansi, e –ISSN : 2548-9224 | p–ISSN : 2548-7507, Volume 6 Nomor 2, April 2022.
Zulkarnaen, W., Fitriani, I., & Yuningsih, N. (2020). Pengembangan Supply Chain Management Dalam Pengelolaan Distribusi Logistik Pemilu Yang Lebih Tepat Jenis, Tepat Jumlah Dan Tepat Waktu Berbasis Human Resources Competency Development Di KPU Jawa Barat. Jurnal Ilmiah MEA (Manajemen, Ekonomi, & Akuntansi), 4(2), 222-243. https://doi.org/10.31955/mea.vol4.iss2.pp222-243.
Published
2024-07-17
How to Cite
Ferli, O., Haryanti, E., Riyanti, A., Nugrahani, C., & Anggraeni, Y. (2024). PENGARUH MANAGEMENT WORKING CAPITAL TERHADAP KINERJA KEUANGAN PERUSAHAAN AGRICULTURE YANG TERDAFTAR DI BURSA EFEK INDONESIA. Jurnal Ilmiah Manajemen, Ekonomi, & Akuntansi (MEA), 8(2), 1924-1951. https://doi.org/10.31955/mea.v8i2.4232
Section
Articles
Copyright (c) 2024 Jurnal Ilmiah Manajemen, Ekonomi, & Akuntansi (MEA)
This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.
