PENGARUH CASH CONVERSION CYCLE DAN CAPITAL EXPENDITURE TERHADAP NILAI PERUSAHAAN DENGAN PROFITABILITAS SEBAGAI VARIABEL MEDIASI PADA PERUSAHAAN MANUFAKTUR SEKTOR CONSUMER NON CYCLICALS YANG TERDAFTAR DI BEI TAHUN 2016-2021

Budiyani, Elin Tri (2023) PENGARUH CASH CONVERSION CYCLE DAN CAPITAL EXPENDITURE TERHADAP NILAI PERUSAHAAN DENGAN PROFITABILITAS SEBAGAI VARIABEL MEDIASI PADA PERUSAHAAN MANUFAKTUR SEKTOR CONSUMER NON CYCLICALS YANG TERDAFTAR DI BEI TAHUN 2016-2021. Tesis thesis, Sekolah Tinggi Ilmu Ekonomi Indonesia Jakarta.

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Abstract

ABSTRAK Penelitian ini bertujuan untuk mengetahui pengaruh cash conversion cycle dan capital expenditure terhadap nilai perusahaan serta untuk mengetahui pengaruh mediasi profitabilitas sehubungan dengan pengaruh cash conversion cycle dan capital expenditure terhadap nilai perusahaan pada perusahaan manufaktur sektor consumer non cyclicals yang terdaftar di BEI tahun 2016-2021 Dengan sampel sebanyak 61 perusahaan consumer non cyclicals selama periode 2016-2021, hasil penelitian ini menunjukan bahwa: (i) cash conversion cycle tidak berpengaruh langsung signifikan terhadap nilai perusahaan; (ii) capital expenditure berpengaruh langsung negatif dan signifikan terhadap nilai perusahaan; (iii) cash conversion cycle berpengaruh langsung negatif dan signifikan terhadap profitabilitas; (iv) capital expenditure berpengaruh langsung positif dan signifikan terhadap profitabilitas; (v) profitabilitas dapat memediasi pengaruh cash conversion cycle terhadap nilai perusahaan; (vi) profitabilitas dapat memediasi pengaruh capital expenditure terhadap nilai perusahaan; (vii) profitabilitas berpengaruh langsung positif dan signifikan terhadap nilai perusahaan. Setelah memperhitungkan pengaruh langsung dan tidak langsung dari variabel-variabel cash conversion cycle dan capital expenditure terhadap nilai perusahaan, cash conversion cycle secara total tidak berpengaruh signifikan terhadap nilai perusahaan, namun capital expenditure secara total berpengaruh positif dan signifikan terhadap nilai perusahaan. ABSTRACT This study aims to determine the effect of the cash conversion cycle and capital expenditure on firm value and to investigate the mediating role of profitability on the relationships among cash conversion cycle and capital expenditure and firm value. By using a sample of 61 consumer non cyclicals sector manufacturing companies during the 2016-2021 period, the results of this study show that: (i) the cash conversion cycle has no significant direct effect on firm value; (ii) capital expenditure has a direct negative and significant effect on firm value; (iii) cash conversion cycle has a direct and significant negative effect on profitability; (iv) capital expenditure has a positive and significant direct effect on profitability; (v) profitability can mediate the effect of the cash conversion cycle on firm value; (vi) profitability can mediate the effect of capital expenditure on firm value; (vii) profitability has a positive and significant direct effect on firm value. After taking into account the direct and indirect effects, the cash conversion cycle has no significant total effect on firm value. However capital expenditure has a positive and significant total effect on firm value.

Item Type:	Thesis (Tesis)
Contributors:	Contribution Contributors NIDN Email Thesis advisor Suriawinata, Iman Sofian NIDN0312056201 iman.suriawinata@stei.ac.id Thesis advisor Anhar, Muhammad NIDN0019095901 m.anhar@stei.ac.id
Subjects:	Manajemen > Manajemen Keuangan
Divisions:	S2 Manajemen
Depositing User:	ELIN TRI BUDIYANI
Date Deposited:	09 Aug 2023 02:15
Last Modified:	09 Aug 2023 02:15
URI:	http://repository.stei.ac.id/id/eprint/10735

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