Analisis Pengaruh Working Capital to Total Asset, Debt to Equity Ratio, Account Payable Turnover, Total Asset Turnover dan Net Profit Margin Terhadap Prediksi Pertumbuhan Laba Perusahaan
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Bibliographic record
Abstract
Penelitian ini bertujuan untuk menganalisis dan memberi bukti empiris apakah working capital to total asset, debt to equity ratio, Accounts Payable turnover, total assets turnover dan net profit margin berpengaruh terhadap pertumbuhan laba perusahaan manufaktur yang terdaftar di Bursa Efek Indonesia tahun 2010-2013. Sampel dipilih dengan metode purposive sampling sehingga diperoleh 96 sampel. Penelitian ini menggunakan model regresi linier berganda. Berdasarkan hasil pengujian hipotesis menunjukan bahwa working capital to total asset, total asset turnover dan net profit margin memiliki pengaruh terhadap pertumbuhan laba perusahaan. Sedangkan debt to equity ratio dan Accounts Payable turnover tidak memiliki pengaruh terhadap pertumbuhan laba. Debt to equity ratio tidak terbukti berpengaruh negatif dikarenakan laba akan tetap meningkat jika perusahaan mendapatkan suntikan dana tambahan dari kreditor. Perusahaan memang mengalami peningkatan jumlah beban bunga akibat pinjaman modal tersebut, akan tetapi efek dari tambahan modal tersebut lebih meningkatkan laba akibat perusahaan berjalan lancar dalam menjalankan bisnisnya. Accounts p ayable turnover tidak terbukti berpengaruh dikarenakan a ccounts p ayable bukan komponen penyusun laba. Kata Kunci : Working Capital to Total Asset (WCTA), Debt to Equity Ratio (DER), Accounts Payable Turnover (APTO), Total Asset Turnover (TATO), Net Profit Margin (NPM), Pertumbuhan Laba This study aimed to analyze and provide empirical evidence of whether the working capital to total assets, debt to equity ratio, accounts payable turnover, total asset turnover and net profit margin affect the profit growth of companies listed in Indonesia Stock Exchange 2010-2013. Samples were selected by purposive sampling method in order to obtain 96 samples. This study uses multiple linear regression model. Based on the results of hypothesis testing showed that working capital to total assets, total asset turnover and net profit margin has an influence on the growth of corporate profits. While the debt to equity ratio and accounts payable turnover has no influence on profit growth. Debt to equity ratio did not prove a negative effect on earnings will continue to rise due if the company gets an injection of additional funds from creditors. The Company is experiencing an increase in interest expense as a result of the capital loans, but the effect of the additional capital further enhance the company's earnings due to run smoothly in running the business. Accounts payable turnover is not proven effect due accounts payable instead of the composition of earnings. Keywords : Working Capital to Total Assets (WCTA), Debt to Equity Ratio (DER), Accounts Payable Turnover ( APTO), Total Asset Turnover (TATO), Net Profit Margin (NPM), P rofit G rowth DAFTAR PUSTAKA Ajija, S. R. (2011). 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Analisis Manfaat Rasio Keuangan dalam Memprediksi Pertumbuhan Laba . [Skripsi]. Semarang : Universitas Diponegoro. Dwimulyani, S, & Shirley. (2007). Analisis Pengaruh Pertumbuhan Rasio-Rasio Keuangan, Laba Bersih, dan Ukuran Perusahaan Terhadap Prediksi Pertumbuhan Laba Usaha pada Perusahaan Manufaktur yang Terdaftar di BEJ. Jurnal Informasi, Perpajakan, Akuntansi dan Keuangan Publik , Vol. 2, No.1, 43-57. Green, W. H. (2003). Econometrics Analysis . (5 th ed.). Prentice Hall. Gujarati, D. N. & Porter, D. C. (2006). Basic Econometrics. (5 th ed.). Canada: McGraw Hill International Edition. Hanafi, M. M. & Halim, A. (2005). Analisis Laporan Keuangan , UPP AMP YKPN. Hapsari, E. A. 2007. Analisis Rasio Keuangan untuk Memprediksi Pertumbuhan Laba. T esis Program Studi Manajemen . Semarang: UNDIP. Harahap, M. D. 2005. Analisis Kinerja Keuangan Pada Pt (Persero) Garuda Indonesia Periode 1999-2003 . [Skripsi]. Jakarta: Universitas Atma Jaya. Kasmir. (2008). Analisis Laporan Keuangan . (3 rd ed.). Jakarta: PT. Rajagrafindo Persada. Keown, A. J. & Martin, J. D., dkk. (2008). Manajemen Keuangan . Jakarta: PT. Indeks. Lundholm, R. & Sloan, R. (2007). Equity Valuation and Analysis . New York: Mc Graw Hill. Meythi. (2005). Rasio Keuangan Yang Paling Baik Untuk Memprediksi Pertumbuhan Laba. Jurnal Ekonomi dan Bisnis , Vol. 9, No.2. Myers, S. (1977). Determinants of corporate borrowing . Journal of Financial Economics, 5, 145-175. Nazir, M. (1988). Metode Penelitian (3 rd ed.). Jakarta: Ghalia. Ou, J. A. (1990). The Information Content of Nonearnings Accounting Numbers as Earnings Predictors . Journal of Accounting Research . Vol. 28, No.1. Priyatno, D. (2010). Mandiri Belajar Analisis Data dengan SPSS . Yogyakarta: Mediakom. Rahardjo, B. (2005). Laporan Keuangan Perusahaan . Yogyakarta : Gajah Mada University Press. Reksoprayitno, S. 1991. Analisis Laporan Keuangan : Analisis Rasio . Yogyakarta: Liberty. Riyanto, B. (1995). Dasar-dasar Pembelanjaan Perusahaan . (4 th ed). Yogyakarta: BPFE. Subramanyam, K. R. & Wild, J. J. (2010). Analisis Laporan Keuangan . Jakarta: Salemba Empat. Sugiyono. (2004). Metode Penelitian Bisnis. Bandung: Alfabeta. Sugiyono. (2008). Metode Penelitian Kuantitatif, Kualitatif dan R&D . Bandung: Alfabeta. Widhi, M. (2011). Analisis Kemampuan Rasio-Rasio Keuangan Dalam Memprediksi Laba . Jakarta. Update Indonesia: Inflasi Naik, Kegiatan Manufaktur Turun. Diakses dari http://www.indonesia-investments.com/id/berita/berita-hari-ini/update-indonesia-inflasi-naik-kegiatan-manufaktur-turun/item5438 [19 Agustus 2015]
Fetched live from OpenAlex and de-inverted. Abstracts are not stored in this database: the inverted indexes are 8.6 GB of the frame’s 9.3 GB of text, and the host has 13 GB free.
Full frame distilled prediction
Teacher imitationNot calibrated prevalence, not ground truth. Human validation pending. Learned from the 10,348 direct Codex labels and 10,348 direct Gemma labels. Candidate is the union of thresholded teacher heads; consensus is their intersection. These outputs are machine_predicted_unvalidated and are not human labels or direct frontier model labels.
Codex and Gemma teacher scores by category
| Category | Codex | Gemma |
|---|---|---|
| Metaresearch | 0.001 | 0.000 |
| Meta-epidemiology (narrow) | 0.001 | 0.001 |
| Meta-epidemiology (broad) | 0.001 | 0.000 |
| Bibliometrics | 0.001 | 0.002 |
| Science and technology studies | 0.001 | 0.000 |
| Scholarly communication | 0.001 | 0.003 |
| Open science | 0.001 | 0.001 |
| Research integrity | 0.000 | 0.001 |
| Insufficient payload (model declined to judge) | 0.001 | 0.000 |
Machine scores (provisional)
The two teacher heads of the student model, read on this work. A score orders the frame for review; it never asserts a category, and the validation status ships verbatim with every row.
Baseline scores from an immature model (maturity gate not passed, 7 training rounds). Scores rank; they never assert a category.
score_only:v0-immature-baseline · verbatim from the scoring run: score_only means the number may rank works, and no category label ships from it