S PEA 1205232 Table of content
DAFTAR ISI
ABSTRAK................................................................................................................i
ABSTRACT .............................................................................................................ii
KATA PENGANTAR ...........................................................................................iii
UCAPAN TERIMAKASIH..................................................................................iv
DAFTAR ISI ..........................................................................................................vi
DAFTAR TABEL................................................................................................viii
DAFTAR GAMBAR .............................................................................................ix
BAB I PENDAHULUAN
A. Latar Belakang Penelitian ...................................................................................1
B. Identifikasi Masalah Penelitian ...........................................................................6
C. Rumusan Masalah Penelitian...............................................................................9
D. Maksud dan Tujuan Penelitian ............................................................................9
E. Kegunaan Penelitian ..........................................................................................10
1. Kegunaan Teoritis ...........................................................................................10
2. Kegunaan Praktis ............................................................................................10
BAB II LANDASAN TEORI
A. Modal ................................................................................................................12
1. Pengertian Modal. .......................................................................................12
2. Pembagian Modal........................................................................................13
B. Modal Kerja .......................................................................................................14
1. Pengertian Modal Kerja ..............................................................................14
2. Konsep Modal Kerja ...................................................................................15
3. Jenis-Jenis Modal Kerja ..............................................................................16
4. Unsur-Unsur Modal Kerja...........................................................................18
5. Manfaat Modal Kerja ..................................................................................19
6. Kebijakan Modal Kerja ...............................................................................20
7. Sumber dan Penggunaan Modal Kerja........................................................22
8. Faktor-Faktor yang Mempengaruhi Modal Kerja .......................................24
9. Pentingnya Modal Kerja..............................................................................25
C. Efisiensi Modal Kerja ........................................................................................27
1. Pengertian Efisiensi ....................................................................................27
2. Efisiensi Modal Kerja .................................................................................28
3. Indikator Efisiensi Modal Kerja .................................................................29
4. Return on Working Capital.........................................................................29
D. Ukuran Perusahaan............................................................................................30
1. Pengertian Ukuran Perusahaan....................................................................30
2. Manfaat Ukuran Perusahaan .......................................................................31
3. Klasifikasi Ukuran Perusahaan ...................................................................31
4. Indikator Ukuran Perusahaan ......................................................................33
E. Profitabilitas.......................................................................................................34
1. Pengertian Profitabilitas ..............................................................................34
2. Tujuan dan Manfaat Profitabilitas ...............................................................35
3. Rasio Pengukuran Profitabilitas ..................................................................36
vi
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PENGARUH EFISIENSI MOD AL KERJA D AN UKURAN PERUSAHAAN TERHAD AP PROFITABILITAS
PAD A PERUSAHAAN MAKANAN D AN MINUMAN YANG TERD AFTAR D I BEI TAHUN 2011-2015
Universitas Pendidikan Indonesia | repository.upi.edu | perpustakaan.upi.edu
F. Return on Assets (ROA).....................................................................................38
1. Pengertian ROA ..........................................................................................38
2. Manfaat ROA ..............................................................................................39
3. Faktor-Faktor yang Mempengaruhi ROA ...................................................40
4. Perhitungan ROA ........................................................................................40
G. Penelitian Terdahulu .........................................................................................41
H. Kerangka Pemikiran ..........................................................................................45
I. Hipotesis .............................................................................................................48
BAB III METODE PENELITIAN
A. Desain Penelitian ...............................................................................................49
B. Operasionalisasi Variabel ..................................................................................50
1. Variabel Bebas (Independen Variabel) .......................................................50
2. Variabel Terikat (Dependen Variabel)........................................................50
C. Populasi dan Sampel atau Sumber Data ............................................................51
1. Populasi.......................................................................................................51
2. Sampel ........................................................................................................52
D. Teknik Pengumpulan Data ................................................................................53
E. Teknik Analisis Data dan Pengujian Hipotesis .................................................53
1. Analisis Deskriptif ......................................................................................54
2. Analisis Inferesial .......................................................................................55
BAB IV HASIL PENELITIAN DAN PEMBAHASAN
A. Gambaran Objek Penelitian ..............................................................................66
B. Deskripsi Hasil Penelitian .................................................................................68
1. Deskripsi Efisiensi Modal Kerja.................................................................68
2. Deskripsi Ukuran Perusahaan .....................................................................74
3. Deskripsi Profitabilitas ...............................................................................79
C. Analisis Data dan Pengujian Hipotesis Penelitian.............................................85
1. Uji Asumsi Klasik.......................................................................................85
2. Teknik Estimasi Regresi Data Panel...........................................................89
3. Pemilihan Model Akhir ..............................................................................93
4. Uji Hipotesis Koefisien Regresi Keseluruhan (Uji F) ................................96
5. Uji Hipotesis Koefisien Regresi Parsial (uji t) ...........................................97
D. Pembahasan Hasil Penelitian ............................................................................99
BAB V KESIMPULAN DAN SARAN
A. Kesimpulan......................................................................................................106
B. Saran ................................................................................................................107
DAFTAR PUSTAKA .......................................................................................108
LAMPIRAN
vii
Ika Lestari, 2016
PENGARUH EFISIENSI MOD AL KERJA D AN UKURAN PERUSAHAAN TERHAD AP PROFITABILITAS
PAD A PERUSAHAAN MAKANAN D AN MINUMAN YANG TERD AFTAR D I BEI TAHUN 2011-2015
Universitas Pendidikan Indonesia | repository.upi.edu | perpustakaan.upi.edu
DAFTAR TABEL
Tabel 1.1 Return On Assets (ROA) Perusahaan Makanan dan Minuman yang
Terdaftar di Bursa Efek Indonesia Tahun 2011-2015........................... 3
Tabel 2.1 Penelitian Terdahulu ........................................................................... 41
Tabel 3.1 Operasionalisasi Variabel Penelitian .................................................. 51
Tabel 3.2 Daftar Nama Perusahaan Populasi Penelitian ..................................... 51
Tabel 3.3 Daftar Nama Perusahaan Sampel Penelitian....................................... 52
Tabel 4.1 Gambaran Objek Penelitian ................................................................ 66
Tabel 4.2 Statistik Deskriptif Efisiensi Modal Kerja Perusahaan Makanan
dan Minuman Yang Terdaftar di BEI Tahun 2011-2015.................... 69
Tabel 4.3 Statistik Deskriptif Ukuran Perusahaan Perusahaan Makanan dan
Minuman Yang Terdaftar di BEI Tahun 2011-201 ............................ 74
Tabel 4.4 Urutan Ukuran Perusahaan ................................................................. 78
Tabel 4.5 Statistik Deskriptif Profitabilitas Perusahaan Makanan dan Minuman
Yang Terdaftar di BEI Tahun 2011-2015 ........................................... 79
Tabel 4.6 Uji Multikonilearitas ........................................................................... 88
Tabel 4.7 Uji Heterokedastisitas ......................................................................... 89
Tabel 4.8 Uji Regresi Data Panel dengan Pendekatan Pooled Least Square
(PLS) ................................................................................................... 90
Tabel 4.9 Uji Regresi Data Panel dengan Pendekatan Fixed Effect ................... 91
Tabel 4.10 Uji Regresi Data Panel dengan Pendekatan Random Effect ............... 92
Tabel 4.11 Pemilihan Model Regresi Data Panel dengan Uji Chow .................... 93
Tabel 4.12 Pemilihan Model Regresi Data Panel dengan Uji Hausman .............. 94
Tabel 4.13 Uji Regresi Data Panel dengan Pendekatan Random Effect ............... 95
Tabel 4.14 Hasil Perhitungan Uji F ...................................................................... 96
Tabel 4.15 Keputusan Pengujian Uji t .................................................................. 98
viii
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PENGARUH EFISIENSI MOD AL KERJA D AN UKURAN PERUSAHAAN TERHAD AP PROFITABILITAS
PAD A PERUSAHAAN MAKANAN D AN MINUMAN YANG TERD AFTAR D I BEI TAHUN 2011-2015
Universitas Pendidikan Indonesia | repository.upi.edu | perpustakaan.upi.edu
DAFTAR GAMBAR
Gambar 1.1 Grafik Return On Assets (ROA) Perusahaan Makanan dan
Minuman yang Terdaftar di Bursa Efek Indonesia Tahun
2011-2015.......................................................................................... 4
Gambar 2.1 Hubungan Antar Variabel ............................................................... 47
Gambar 4.1 Diagram Return on Working Capital (RWC) Perusahaan
Makanan dan Minuman Yang Terdaftar di BEI Tahun
2011-2015........................................................................................ 71
Gambar 4.2 Grafik Rata-Rata Return on Working Capital (RWC) Perusahaan
Makanan dan Minuman Yang Terdaftar di BEI Tahun
2011-2015........................................................................................ 72
Gambar 4.3 Diagram Total Aktiva Perusahaan Makanan dan Minuman Yang
Terdaftar di BEI Tahun 2011-2015 ................................................. 76
Gambar 4.4 Grafik Rata-Rata Total Aktiva Perusahaan Makanan dan
Minuman Yang Terdaftar di BEI Tahun 2011-2015....................... 77
Gambar 4.5 Diagram Return on Assets (ROA) Perusahaan Makanan dan
Minuman Yang Terdaftar di BEI Tahun 2011-2015....................... 82
Gambar 4.6 Grafik Rata-Rata Return on Assets (ROA) Perusahaan Makanan
dan Minuman Yang Terdaftar di BEI Tahun 2011-2015 ................ 83
Gambar 4.7 Uji Normalitas ................................................................................. 86
Gambar 4.8 Uji Autokorelasi .............................................................................. 87
Gambar 4.9 Kriteria Pengujian Keberartian Koefisien Regresi Parsial .............. 98
ix
Ika Lestari, 2016
PENGARUH EFISIENSI MOD AL KERJA D AN UKURAN PERUSAHAAN TERHAD AP PROFITABILITAS
PAD A PERUSAHAAN MAKANAN D AN MINUMAN YANG TERD AFTAR D I BEI TAHUN 2011-2015
Universitas Pendidikan Indonesia | repository.upi.edu | perpustakaan.upi.edu
ABSTRAK................................................................................................................i
ABSTRACT .............................................................................................................ii
KATA PENGANTAR ...........................................................................................iii
UCAPAN TERIMAKASIH..................................................................................iv
DAFTAR ISI ..........................................................................................................vi
DAFTAR TABEL................................................................................................viii
DAFTAR GAMBAR .............................................................................................ix
BAB I PENDAHULUAN
A. Latar Belakang Penelitian ...................................................................................1
B. Identifikasi Masalah Penelitian ...........................................................................6
C. Rumusan Masalah Penelitian...............................................................................9
D. Maksud dan Tujuan Penelitian ............................................................................9
E. Kegunaan Penelitian ..........................................................................................10
1. Kegunaan Teoritis ...........................................................................................10
2. Kegunaan Praktis ............................................................................................10
BAB II LANDASAN TEORI
A. Modal ................................................................................................................12
1. Pengertian Modal. .......................................................................................12
2. Pembagian Modal........................................................................................13
B. Modal Kerja .......................................................................................................14
1. Pengertian Modal Kerja ..............................................................................14
2. Konsep Modal Kerja ...................................................................................15
3. Jenis-Jenis Modal Kerja ..............................................................................16
4. Unsur-Unsur Modal Kerja...........................................................................18
5. Manfaat Modal Kerja ..................................................................................19
6. Kebijakan Modal Kerja ...............................................................................20
7. Sumber dan Penggunaan Modal Kerja........................................................22
8. Faktor-Faktor yang Mempengaruhi Modal Kerja .......................................24
9. Pentingnya Modal Kerja..............................................................................25
C. Efisiensi Modal Kerja ........................................................................................27
1. Pengertian Efisiensi ....................................................................................27
2. Efisiensi Modal Kerja .................................................................................28
3. Indikator Efisiensi Modal Kerja .................................................................29
4. Return on Working Capital.........................................................................29
D. Ukuran Perusahaan............................................................................................30
1. Pengertian Ukuran Perusahaan....................................................................30
2. Manfaat Ukuran Perusahaan .......................................................................31
3. Klasifikasi Ukuran Perusahaan ...................................................................31
4. Indikator Ukuran Perusahaan ......................................................................33
E. Profitabilitas.......................................................................................................34
1. Pengertian Profitabilitas ..............................................................................34
2. Tujuan dan Manfaat Profitabilitas ...............................................................35
3. Rasio Pengukuran Profitabilitas ..................................................................36
vi
Ika Lestari, 2016
PENGARUH EFISIENSI MOD AL KERJA D AN UKURAN PERUSAHAAN TERHAD AP PROFITABILITAS
PAD A PERUSAHAAN MAKANAN D AN MINUMAN YANG TERD AFTAR D I BEI TAHUN 2011-2015
Universitas Pendidikan Indonesia | repository.upi.edu | perpustakaan.upi.edu
F. Return on Assets (ROA).....................................................................................38
1. Pengertian ROA ..........................................................................................38
2. Manfaat ROA ..............................................................................................39
3. Faktor-Faktor yang Mempengaruhi ROA ...................................................40
4. Perhitungan ROA ........................................................................................40
G. Penelitian Terdahulu .........................................................................................41
H. Kerangka Pemikiran ..........................................................................................45
I. Hipotesis .............................................................................................................48
BAB III METODE PENELITIAN
A. Desain Penelitian ...............................................................................................49
B. Operasionalisasi Variabel ..................................................................................50
1. Variabel Bebas (Independen Variabel) .......................................................50
2. Variabel Terikat (Dependen Variabel)........................................................50
C. Populasi dan Sampel atau Sumber Data ............................................................51
1. Populasi.......................................................................................................51
2. Sampel ........................................................................................................52
D. Teknik Pengumpulan Data ................................................................................53
E. Teknik Analisis Data dan Pengujian Hipotesis .................................................53
1. Analisis Deskriptif ......................................................................................54
2. Analisis Inferesial .......................................................................................55
BAB IV HASIL PENELITIAN DAN PEMBAHASAN
A. Gambaran Objek Penelitian ..............................................................................66
B. Deskripsi Hasil Penelitian .................................................................................68
1. Deskripsi Efisiensi Modal Kerja.................................................................68
2. Deskripsi Ukuran Perusahaan .....................................................................74
3. Deskripsi Profitabilitas ...............................................................................79
C. Analisis Data dan Pengujian Hipotesis Penelitian.............................................85
1. Uji Asumsi Klasik.......................................................................................85
2. Teknik Estimasi Regresi Data Panel...........................................................89
3. Pemilihan Model Akhir ..............................................................................93
4. Uji Hipotesis Koefisien Regresi Keseluruhan (Uji F) ................................96
5. Uji Hipotesis Koefisien Regresi Parsial (uji t) ...........................................97
D. Pembahasan Hasil Penelitian ............................................................................99
BAB V KESIMPULAN DAN SARAN
A. Kesimpulan......................................................................................................106
B. Saran ................................................................................................................107
DAFTAR PUSTAKA .......................................................................................108
LAMPIRAN
vii
Ika Lestari, 2016
PENGARUH EFISIENSI MOD AL KERJA D AN UKURAN PERUSAHAAN TERHAD AP PROFITABILITAS
PAD A PERUSAHAAN MAKANAN D AN MINUMAN YANG TERD AFTAR D I BEI TAHUN 2011-2015
Universitas Pendidikan Indonesia | repository.upi.edu | perpustakaan.upi.edu
DAFTAR TABEL
Tabel 1.1 Return On Assets (ROA) Perusahaan Makanan dan Minuman yang
Terdaftar di Bursa Efek Indonesia Tahun 2011-2015........................... 3
Tabel 2.1 Penelitian Terdahulu ........................................................................... 41
Tabel 3.1 Operasionalisasi Variabel Penelitian .................................................. 51
Tabel 3.2 Daftar Nama Perusahaan Populasi Penelitian ..................................... 51
Tabel 3.3 Daftar Nama Perusahaan Sampel Penelitian....................................... 52
Tabel 4.1 Gambaran Objek Penelitian ................................................................ 66
Tabel 4.2 Statistik Deskriptif Efisiensi Modal Kerja Perusahaan Makanan
dan Minuman Yang Terdaftar di BEI Tahun 2011-2015.................... 69
Tabel 4.3 Statistik Deskriptif Ukuran Perusahaan Perusahaan Makanan dan
Minuman Yang Terdaftar di BEI Tahun 2011-201 ............................ 74
Tabel 4.4 Urutan Ukuran Perusahaan ................................................................. 78
Tabel 4.5 Statistik Deskriptif Profitabilitas Perusahaan Makanan dan Minuman
Yang Terdaftar di BEI Tahun 2011-2015 ........................................... 79
Tabel 4.6 Uji Multikonilearitas ........................................................................... 88
Tabel 4.7 Uji Heterokedastisitas ......................................................................... 89
Tabel 4.8 Uji Regresi Data Panel dengan Pendekatan Pooled Least Square
(PLS) ................................................................................................... 90
Tabel 4.9 Uji Regresi Data Panel dengan Pendekatan Fixed Effect ................... 91
Tabel 4.10 Uji Regresi Data Panel dengan Pendekatan Random Effect ............... 92
Tabel 4.11 Pemilihan Model Regresi Data Panel dengan Uji Chow .................... 93
Tabel 4.12 Pemilihan Model Regresi Data Panel dengan Uji Hausman .............. 94
Tabel 4.13 Uji Regresi Data Panel dengan Pendekatan Random Effect ............... 95
Tabel 4.14 Hasil Perhitungan Uji F ...................................................................... 96
Tabel 4.15 Keputusan Pengujian Uji t .................................................................. 98
viii
Ika Lestari, 2016
PENGARUH EFISIENSI MOD AL KERJA D AN UKURAN PERUSAHAAN TERHAD AP PROFITABILITAS
PAD A PERUSAHAAN MAKANAN D AN MINUMAN YANG TERD AFTAR D I BEI TAHUN 2011-2015
Universitas Pendidikan Indonesia | repository.upi.edu | perpustakaan.upi.edu
DAFTAR GAMBAR
Gambar 1.1 Grafik Return On Assets (ROA) Perusahaan Makanan dan
Minuman yang Terdaftar di Bursa Efek Indonesia Tahun
2011-2015.......................................................................................... 4
Gambar 2.1 Hubungan Antar Variabel ............................................................... 47
Gambar 4.1 Diagram Return on Working Capital (RWC) Perusahaan
Makanan dan Minuman Yang Terdaftar di BEI Tahun
2011-2015........................................................................................ 71
Gambar 4.2 Grafik Rata-Rata Return on Working Capital (RWC) Perusahaan
Makanan dan Minuman Yang Terdaftar di BEI Tahun
2011-2015........................................................................................ 72
Gambar 4.3 Diagram Total Aktiva Perusahaan Makanan dan Minuman Yang
Terdaftar di BEI Tahun 2011-2015 ................................................. 76
Gambar 4.4 Grafik Rata-Rata Total Aktiva Perusahaan Makanan dan
Minuman Yang Terdaftar di BEI Tahun 2011-2015....................... 77
Gambar 4.5 Diagram Return on Assets (ROA) Perusahaan Makanan dan
Minuman Yang Terdaftar di BEI Tahun 2011-2015....................... 82
Gambar 4.6 Grafik Rata-Rata Return on Assets (ROA) Perusahaan Makanan
dan Minuman Yang Terdaftar di BEI Tahun 2011-2015 ................ 83
Gambar 4.7 Uji Normalitas ................................................................................. 86
Gambar 4.8 Uji Autokorelasi .............................................................................. 87
Gambar 4.9 Kriteria Pengujian Keberartian Koefisien Regresi Parsial .............. 98
ix
Ika Lestari, 2016
PENGARUH EFISIENSI MOD AL KERJA D AN UKURAN PERUSAHAAN TERHAD AP PROFITABILITAS
PAD A PERUSAHAAN MAKANAN D AN MINUMAN YANG TERD AFTAR D I BEI TAHUN 2011-2015
Universitas Pendidikan Indonesia | repository.upi.edu | perpustakaan.upi.edu