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Library's collection Library's IT development CancelThis research objective is to provide deep insight about the impacts of working capital management to the firm’s profitability in terms of accounting profit as well as market value. This study is conducted on non-manufacturing companies in Indonesia which are listed in Indonesian Stock Exchange (IDX) and published their annual reports in 2011-2015. The observation will be divided unto 3 sectors which are trading, property and mining. Each sector is analysed separately and then comparison between sectors are explained further. Cash conversion cycle is the working capital management measurement. Cash conversion cycle itself consists of accounts payable days, accounts receivable days and inventory days. The accounting profit is measured by ROA and the market value is measured using Tobin’s Q. In addition, there are 4 control variables which are firm size, financial debt ratio, current ratio and firm age. There are 4 hypotheses which each of them has 2 sub-hypotheses. The result findings show different and mixed results between sectors. Generally ROA is affected by the cash conversion cycle and its components. It contradicts with Tobin’s Q which most of the results show no correlation between cash conversion cycle and the market value.