PENGARUH PERPUTARAN MODAL KERJA, PERPUTARAN KAS, DAN PERPUTARAN PERSEDIAAN TERHADAP RETURN ON INVESTMENT PADA PERUSAHAAN FOOD AND BEVERAGE YANG DI BURSA EFEK INDONESIA TAHUN 2016-2020

Abstract

Manufacturing companies profitability  in indonesia were affected by financial factors which can be measured from financial ratio.The aim of this research is to analyze the influance of working capital turnover, cash turnover and inventory turnover to return on investment (ROI) of manufacturing company. Population in this research is the food and beverage sector manufacturing company that went public in the Indonesia Stock Exchange in the period 2016 to 2020, as 13 corporate food and beverage. Sample was determined by using purposive sampling technique that aims to obtain representative samples in accordance with the specified criteria. Analysis techniques that will be used in this research are multiple linear regressions to obtain a comprehensive picture of the relationship between one variable with another variable. Based on the results of data analysis using SPSS 25, it show that Working Capital Turnover partially has a negative and significant effect on Return On Investment with a significance value of 0.002, the Cash Turnover partially has a negative and significant effect on Return On Investment with a significance value of 0.003, and Inventory Turnover has a positive and insignificant effect on Return On Investment with a significance value of 0.624. Simultaneously, the variables Working Capital Turnover, Cash Turnover and Inventory Turnover have a significant effect on Return On Investment with a significance value of 0.001. The coefficient determinant (R2) is 0,245 which means 24,5% ROI variation explained by three independent variables, where as 75,5% explained by another variables which is not followed