PENGARUH PENGELOLAAN MODAL KERJA TERHADAP PROFITABILITAS PADA PERUSAHAAN MANUFAKTUR YANG TERDAFTAR DI BURSA EFEK INDONESIA

The company will basically do a variety of activities to achieve its intended purpose, namely to make a profit. The goal will be achieved if the company had working capital. Working capital is the capital used to finance the company's operations every day, especially those that have a short duration. This study aimed to determine the effect of cash turnover, inventory turnover, receivable turnover and working capital turnover partially or simultaneously to profitability. The object of this research is manufacturing companies listed in Indonesia Stock Exchange. The sampling technique used is non-probability sampling is sampling technique using specific considerations or in (purposive sampling) using the financial statements of the year 2009 until the year 2012. The results of hypothesis testing using multiple regression analysis showed that simultaneous cash turnover, inventory turnover, receivable turnover, and working capital turnover significant positive effect on profitability (ROI). While partially inventory turnover and turnover significant positive effect on profitability (ROI), however, the cash turnover and accounts receivable turnover significant negative effect on profitability (ROI). Key words : Cash Turnover, Inventory Turnover, Receivable Turnover, Working Capital Turnover, and Profitabilit