Working Capital and Debt Policy on Profitability of The Companies

Lihard Stevanus Lumapow; Ramon Arthur Ferry Tumiwa

doi:10.32535/ijafap.v3i2.832

Working Capital and Debt Policy on Profitability of The Companies

Lihard Stevanus Lumapow, Ramon Arthur Ferry Tumiwa

Abstract

Profitability is a measure of a company's success in making a profit. The objectives of this study are: (1) to test and analyze whether profitability is affected by working capital, and (2) to test and analyze whether profitability is affected by debt policy. This research uses quantitative research methods, using a sample of 12 automotive and components companies listed on the Indonesia Stock Exchange in 2012 to 2017 with a purposive sampling technique. The analysis technique in this study uses panel data with multiple regression. The results obtained indicate that working capital has a negative and not significant effect on profitability, as well as debt policy variables have a negative but not significant effect on profitability.

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DOI: https://doi.org/10.32535/ijafap.v3i2.832