Mediasi Profitabilitas dalam Menilai Hubungan antara Manajemen Modal Kerja dan Nilai Perusahaan

Abstract

This study aims to examine the effect of working capital management on firm value in cement companies listed on the Indonesia Stock Exchange (IDX) in the 2012-2017 period, either directly or indirectly through profitability. This study uses a quantitative approach. Sampling using the saturated sampling method. There are six cement companies that meet the categories as samples. Furthermore, Partial Least Square (PLS) is used for analysis and hypothesis testing for testing the profitability variable as a mediation. The results show that working capital that is managed effectively and efficiently can improve financial performance so as to increase firm value. The results of the mediation test show that profitability positively mediates the effect of working capital management on firm value. This explains that the implementation of good working capital management can increase the profit generated by the company so that the company value increases, which ultimately investors respond positively. DOI: https://doi.org/10.26905/afr.v3i2.5807

Keywords

• working capital management
• firm value
• and profitability. manajemen modal kerja
• nilai perusahaan dan profitabilitas