A Study of Corporate Performance of Registered Wholesaler Sub-sector Companies in The Indonesia Stock Exchange


Authors : Ardani Asmadi; Djoko Hanantijo

Volume/Issue : Volume 5 - 2020, Issue 11 - November

Google Scholar : http://bitly.ws/9nMw

Scribd : https://bit.ly/2ULYJiR

Currently, the problem of the company's ability to manage its working capital has an impact on the financial performance of trading companies. In working capital management so that there is an increase in profitability in terms of Return On Assets (ROA). Several factors that influence Return On Assets and are of concern include Net Trade Cycle (NTC), Average Collection Period (ACP). The existence of financial constraints, one of which is the Dividend Payout Ratio (DPR), is also a problem and needs to be considered in working capital management. The purpose of this study on registered wholesaler sub-sector companies on the Indonesia Stock Exchange is to investigate the effect of working capital management on company performance with the consideration of financial constraints. The research method in this study uses a quantitative approach. The main results in this study reveal that the Dividend Payout Ratio significantly moderates the effect of the Average Collection Period on Return On Assets. However, the Dividend Payout Ratio was unable to moderate the effect of the Net Trade Cycle on Return On Assets. Contributions from this study can provide insight and understanding for financial practitioners financial managers, finance directors and shareholders in managing the company's working capital, specifically in large trading sub-sector companies listed on the Indonesia Stock Exchange

Keywords : Average Collection Period (ACP); Deviden Payout Ratio (DPR); Net Trade Cycle (NTC); Return On Assets (ROA).

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