ANALISIS EFISIENSI DAN EFEKTIVITAS MODAL KERJA PADA PERUSAHAAN SUB SEKTOR TELEKOMUNIKASI YANG TERDAFTAR DI BURSA EFEK INDONESIA
Daftar Isi:
- This study aims to analyze the efficiency and effectiveness of working capital in the telecommunication subsector companies listed on the Indonesia Stock Exchange. Efficiency of working capital is assessed by liquidity ratios, namely the current ratio, quick ratio, cash ratio, working capital to total assets. The effectiveness of working capital is assessed by the activity ratios, namely total asset turn over, working capital turnover, fixed asset turnover, receivable turnover, average collection period. The profitability ratio is assessed by return on investment. The data used in this study was obtained from secondary data which is obtained from the company's financial statements from 2012 to 2017. This study was conducted on the telecommunication subsector companies listed on the Indonesia Stock Exchange, namely PT. Telekomunikasi Indonesia Tbk, PT. XL Axiata Tbk, PT. Indosat Tbk, PT. Bakrie Telecom Tbk, and PT. Smartfren Telecom Tbk. Analysis technique is descriptive analysis. The results of this study shows that the telecommunication subsector companies are cannot utilize its working capital properly to increase sales and generate profits for the company. These companies are generally inefficient and ineffective in managing their working capital because the value of the ratio is below the industry ratio standard.