Optimal Modal Kerja Pada Perusahaan Manufaktur Yang Terdaftar di Bursa Efek Indonesia (Bei) Tahun 2013-2017

Abstract

Penelitian ini merupakan replikasi dari penelitian yang dilakukan oleh (Nobanee & Alhajjar, 2014). Diperlukan replikasi karena lingkungan bisnis di Amerika berbeda dengan di Indonesia. Hasil penelitian di Indonesia menunjukan bahwa variabel receivable collection period tidak optimal, payable deferral period tidak optimal dan inventory conversion period sudah optimal. Sedangkan di Amerika hasil penelitiannya menunjukan variabel receivable collection period sudah optimal, payable deferral period sudah optimal dan inventory conversion period tidak optimal. Pada penelitian ini menggunakan 56 sampel perusahaan manufaktur yang terdaftar di BEI tahun 2013-2017. Metode pengambilan sampel yaitu dengan menggunakan purposive sampling, didapat dari 281 perusahaan manufaktur disaring menjadi 56 perusahaan manufaktur. Data penelitian ini dianalisis dengan menggunakan Genearlized Method of Moment (GMM) pada Stata 11.

This research is a replication of research conducted by (Nobanee & Alhajjar, 2014). Replication is needed because the business environment in America is different from in Indonesia. The results of research in Indonesia show that the receivable collection period variable is not optimal, the payable deferral period is not optimal and the inventory conversion period is optimal. Whereas in America the results of his research showed that the receivable collection period variable was optimal, the payable deferral period was optimal and the inventory conversion period was not optimal. In this study used 56 samples of manufacturing companies listed on the Stock Exchange in 2013-2017. The sampling method is using purposive sampling, obtained from 281 manufacturing companies screened to 56 manufacturing companies. The data of this study were analyzed using Genearlized Method of Moment (GMM) on Stata 11.