PENGARUH PERPUTARAN MODAL KERJA DAN PERPUTARAN PERSEDIAAN TERHADAP PENJUALAN KREDIT DENGAN PERPUTARAN PIUTANG SEBAGAI VARIABEL INTERVENING (Studi Empiris Perusahaan Manufaktur Yang Terdpat Di Bursa Efek Indonesia Periode Tahun 2014 – 2017)

Abstract

This research was conducted to determine the effect of Working Capital Turnover and Inventory Turnover on Credit Sales and Accounts Receivable Turnover. The variables used are Working Capital Turnover, and Inventory turnover as independent variables, Accounts Turnover is used as an intervening variable on the dependent variable of Credit Sales.
The sampling technique is done by means of purposive sampling. The sample used is a manufacturing company listed on the Indonesia Stock Exchange for the period of 2014-2017.
Data analysis techniques using classical assumption test, multiple regression and hypothesis testing. The results of the study in the feasibility of the model obtained variable working capital turnover have a significant effect on receivable turnover.
While the results of hypothesis testing prove that; 1) Turnover of working capital does not affect the turnover of accounts receivable; 2) The effect of inventory turnover has a positive and significant effect on accounts receivable turnover; 3) Turnover of working capital has a positive and significant effect on credit sales. 4) The effect of inventory turnover has a positive and significant effect on credit sales; 5) Accounts turnover has a positive and significant effect on credit sales. 6) The effect of working capital turnover has a positive and significant effect on credit sales.
Keywords : Working Capital Turnover, Inventory Turnover, Credit Sales and Receivables Turnover.