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"Skripsi ini mengenai analisis biaya modal yang berfokus pada komponen pembentuknya yang dianalisis secara deskriptif dan dianalisis berdasarkan hubungan risiko dan pengembalian. Perhitungan beta menggunakan metode OLS dan metode Dimson (1979) sebagai koreksi. Berdasarkan perhitunan beta sebelum dan sesudah koreksi, sektor pertanian memiliki beta tertinggi sehingga sektor tersebut menghasilkan pula biaya ekuitas yang paling tinggi. Perhitungan biaya hutang paling tinggi adalah sektor industri dasar dan kimia. Hasil yang diperoleh adalah sektor pertanian merupakan sektor dengan biaya modal tertinggi diantara sektor lainnya dan memiliki hubungan yang berbanding lurus dengan pengembalianya meskipun pengembaliannnya bukan merupakan pengembalian yang tertinggi diantara sektor lainnya.

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This paper is about the analysis focuses on the capital cost of its constituent components are analyzed descriptively and analyzed based on the relationship of risk and return. Beta calculation using OLS and methods Dimson (1979) as a correction. Based on the intentional beta before and after the correction, the agricultural sector has the highest beta so that the sector also produces the highest cost of equity. Calculation of the high cost of debt is the most basic and chemical industry sectors. The results obtained are the agricultural sector is the sector with the highest capital costs among other sectors and has a directly proportional relationship with its return though the return is not a return of the highest among other sectors."

"Penelitian ini bertujuan untuk menganalisis pengaruh working capital management terhadap profitabilitas perusahaan pada business cycle yang berbeda pada perusahaan manufaktur yang tercatat di Bursa Efek Indonesia tahun 2010-2019. Pengukuran manajemen modal kerja menggunakan cash conversion cycle dengan komponennya yaitu receivable conversion period, inventory conversion period, dan payable deferral period. Profitabilitas diukur melalui return on assets dan gross profit margin, serta siklus bisnis ditentukan berdasarkan pertumbuhan PDB. Hasil penelitian menunjukkan bahwa manajemen modal kerja memiliki pengaruh yang signifikan dan tidak signifikan terhadap profitabilitas perusahaan.Dari hasil penelitian juga menunjukkan bahwa siklus bisnis berpengaruh dan tidak berpengaruh terhadap signifikansi pengaruh manajemen modal kerja terhadapprofitabilitas perusahaan di Indonesia.

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This study aims to analyze the effect of working capital management on company profitability in different business cycles in manufacturing companies listed on the Indonesia Stock Exchange in 2010-2019. The measurement of working capital management uses a cash conversion cycle with its components, namely the receivable conversion period, inventory conversion period, and payable deferral

period. Profitability is measured through return on assets and gross profit margin, and the business cycle is determined based on GDP growth. The results showed that working capital management had a significant and insignificant effect on company

profitability. The results of the study also show that the business cycle has an effect and has no effect on the significant effect of working capital management on the profitability of companies in Indonesia."

"Permasalahan manajemen modal kerja memiliki dampak yang tidak baik bagi perusahaan. Manajemen modal kerja yang baik bertujuan agar kesehatan keuangan perusahaan dapat terjaga sehingga dapat menghasilkan keuntungan yang maksimal. Penelitian ini bertujuan untuk menganalisa pengaruh kebijakan manajemen modal kerja terhadap profitabilitas dan nilai perusahaan. Penelitian ini menggunakan sampel sebanyak 287 perusahaan non keuangan yang terdaftar di Bursa Efek Indonesia pada periode tahun 2009-2018. Manajemen modal kerja diproksikan menggunakan Total Current Assets to Total Assets (TCA/TA) dan Total Current Liabilities to Total Assets TCL/TA. Kemudian, profitabilitas diproksikan dengan Return on Assets (ROA) dan nilai perusahaan dicerminkan dengan rasio Tobins Q. Hasil penelitian menunjukan bahwa rasio Total Current Assets to Total Assets dan Total Current Liabilities to Total Assets berpengaruh positif signifikan terhadap profitabilitas dan nilai perusahaan.

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Problems with working capital management are bad for the company. Good working capital management aims to maintain the companys financial health so that it can get maximum profit. This study aims to analyze capital management policies on profitability and firm value. This study uses a sample of 287 non-financial companies that were listed on the Indonesia Stock Exchange in the period 2009-2018. Working capital management is proxied using Total Current Assets to Total Assets (TCA / TA) and Total Current Liabilities to Total Assets (TCL / TA). Then, profitability is proxied by Return on Assets (ROA) and the value of the company is reflected by the Tobin Q ratio. The results of the study show that Total Current Assets to Total Assets and Total Current Liabilities to Total Assets have a significant positive effect on profitability and firm value."

"[ABSTRAK

Penelitian ini bertujuan untuk mengetahui pengaruh tata kelola perusahaan terhadap efisiensi manajemen modal kerja. Variabel tata kelola perusahaan terdiri dari jumlah Komisaris, jumlah Direksi, jumlah Komite Audit dan tenur Direksi utama. Untuk efisiensi manajemen modal kerja diukur dengan siklus konversi kas dan komponennya, kepemilikan kas, efisiensi konversi kas dan likuiditas dengan menggunakan beberapa variabel kontrol. Dengan menggunakan 110 sampel perusahaan manufaktur yang tercatat di BEI periode 2010-2014. Penelitian ini mengungkapkan bahwa semua variabel tata kelola perusahaan memiliki pengaruh terhadap beberapa komponen efisiensi manajemen modal kerja, dengan koefisien yang berbeda-beda.

ABSTRACT

The aim of this research is to investigate the impact of corporate governance on capital management efficiency. Variables of the corporate governance are Board of Directors size, Board of Commissioners Size, Audit committee and CEO tenure. Factors of the working capital management efficiency are cash conversion cycle and its component, cash holding, cash conversion efficiency and liquidity with several control variables. This research employ 110 sample of manufacturing firms listed on Indonesia Stock Exchange in 2010-2014. This research shows that every variables of corporate governance have significant impact on several aspect of working capital management efficiency with different coefficient on each variables.;The aim of this research is to investigate the impact of corporate governance on capital management efficiency. Variables of the corporate governance are Board of Directors size, Board of Commissioners Size, Audit committee and CEO tenure. Factors of the working capital management efficiency are cash conversion cycle and its component, cash holding, cash conversion efficiency and liquidity with several control variables. This research employ 110 sample of manufacturing firms listed on Indonesia Stock Exchange in 2010-2014. This research shows that every variables of corporate governance have significant impact on several aspect of working capital management efficiency with different coefficient on each variables., The aim of this research is to investigate the impact of corporate governance on capital management efficiency. Variables of the corporate governance are Board of Directors size, Board of Commissioners Size, Audit committee and CEO tenure. Factors of the working capital management efficiency are cash conversion cycle and its component, cash holding, cash conversion efficiency and liquidity with several control variables. This research employ 110 sample of manufacturing firms listed on Indonesia Stock Exchange in 2010-2014. This research shows that every variables of corporate governance have significant impact on several aspect of working capital management efficiency with different coefficient on each variables.]"

"Penelitian ini memiliki tujuan untuk menganalisis pengaruh manajemen modal kerja terhadap gross operating profitability perusahaan manufaktur yang terdaftar di BEI periode 2006-2015, karena konsep modal kerja berkaitan dengan likuiditas maka penelitian ini juga memiliki tujuan untuk mengetahui pengaruh likuiditas modal kerja perusahaan terhadap gross operating profitability. Modal kerja sendiri diproksikan menggunakan ICP, APP, ACP dan CCC sedangkan likuiditas modal kerja perusahaan diproksikan dengan CR dan WCR. Dengan menggunakan analisis regresi linier berganda data panel Fixed Effects Model dengan GLS cross-weights, serta sampel sejumlah 106 perusahaan dengan periode penelitian 10 tahun maka hasil yang didapatkan pada penelitian ini yaitu terdapat pengaruh yang signifikan antara manajemen modal kerja dan likuiditas modal kerja perusahaan manufaktur yang terdaftar di BEI periode 2006-2015 terhadap gross operating profitability.

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The purpose of this research is to examine the effect of working capital management on gross operating profitability of manufacturing listed firms on Indonesia Stock Exchange for the period 2006 2015. Working capital management in this research is proxied by ICP, APP, ACP and CCC, while the company 39 s working capital liquidity is proxied by CR and WCR. This research uses multiple linear regression Fixed Effects Model with GLS cross section weights to analyze the effect of working capital management on gross operating profitability using 106 sample firms over 10 years. The results of this research is working capital management and working capital liquidity of manufacturing companies listed at Indonesia Stock Exchange period 2006 2015 has a significant effect on gross operating profitability."

"Penelitian ini menguji peranan pengawasan bank terhadap tata kelola perusahaan peminjam dengan cara menyelidiki efek dari pengawasan bank pada perilaku manajemen laba berbasis akrual (AEM) perusahaan peminjam. Analisis ini menunjukkan bahwa perilaku AEM perusahaan pinjaman umumnya menurun dengan meningkatnya kekuatan pengawasan bank. Kekuatan pengawasan bank tersebut diukur dari (1) jumlah pinjaman bank, (2) jumlah pinjaman bank jangka panjang, dan (3) jumlah bank yang tergabung didalam pinjaman sindikasi. Hasil penelitian ini menyiratkan bahwa pengawasan bank memainkan peran penting dalam tata kelola perusahaan peminjam terutama pinjaman yang berasal dari sindikasi.

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This study examined the role of bank monitoring to corporate governance by investigating the effects of bank supervision on the behavior of accrual-based earnings management (AEM). This analysis shows that the behavior of the company AEM generally decreases with increasing strength of bank supervision. The strength of the bank supervision is measured as (1) the total amount of bank loans, (2) the amount of long-term bank loans, and (3) the number of banks that joined in syndicated loan. These results imply that bank supervision plays an important role in corporate governance is mainly derived as syndicated loans."