PENGARUH PERTUMBUHAN PENJUALAN, UKURAN PERUSAHAAN, DAN PERPUTARAN PERSEDIAAN TERHADAP MODAL KERJA PADA PT AKASHA WIRA INTERNASIONAL (ADES) TBK PERIODE 2015-2024

RAHMANA, JEMILIYA (2026) PENGARUH PERTUMBUHAN PENJUALAN, UKURAN PERUSAHAAN, DAN PERPUTARAN PERSEDIAAN TERHADAP MODAL KERJA PADA PT AKASHA WIRA INTERNASIONAL (ADES) TBK PERIODE 2015-2024. PENGARUH PERTUMBUHAN PENJUALAN, UKURAN PERUSAHAAN, DAN PERPUTARAN PERSEDIAAN TERHADAP MODAL KERJA PADA PT AKASHA WIRA INTERNASIONAL (ADES) TBK PERIODE 2015-2024. (Unpublished)

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Abstract

ABSTRACT In an increasingly competitive business environment, effective working capital management plays a crucial role in ensuring a company’s operational sustainability and efficiency. Working capital is required to finance short-term operational activities such as purchasing raw materials, paying wages, and covering production costs. This study aims to examine the effect of sales growth, firm size, and inventory turnover on working capital at PT Akasha Wira International Tbk (ADES) during the period 2015–2024. Working capital is measured using working capital, sales growth is measured by the sales growth ratio, firm size is measured by total assets, and inventory turnover is measured using the inventory turnover ratio. This research employs a quantitative approach using multiple linear regression analysis, supported by partial (t-test) and simultaneous (F-test) hypothesis testing. The results indicate that sales growth does not have a significant partial effect on working capital, firm size has a significant effect on working capital, and inventory turnover does not have a significant effect on working capital. Simultaneously, sales growth, firm size, and inventory turnover have a significant effect on working capital. The coefficient of determination shows that these independent variables explain 89.6% of the variation in working capital, while the remaining 10.4% is influenced by other factors not included in this study. This research is expected to provide insights for corporate management in improving working capital management effectiveness. Keywords: Sales Growth, Firm Size, Inventory Turnover, Working Capital, Working Capital Management. PENGARUH PERTUMBUHAN PENJUALAN, UKURAN PERUSAHAAN ,DAN PERPUTARAN PERSEDIAAN TERHADAP MODAL KERJA PADA PT AKASHA WIRA INTERNASIONAL (ADES) TBK PERIODE 2015-2024 JEMILIYA RAHMANA1),DONA ELVIA DESI., S.E., M.M2) JEMILIYA RAHMANA1) Email:jemiliyarahmana@gmail.com DONA ELVIA DESI., S.E., M.M2) Email: donaelvia03@gmail.com ABSTRACT In an increasingly competitive business environment, effective working capital management plays a crucial role in ensuring a company’s operational sustainability and efficiency. Working capital is required to finance short-term operational activities such as purchasing raw materials, paying wages, and covering production costs. This study aims to examine the effect of sales growth, firm size, and inventory turnover on working capital at PT Akasha Wira International Tbk (ADES) during the period 2015–2024. Working capital is measured using working capital, sales growth is measured by the sales growth ratio, firm size is measured by total assets, and inventory turnover is measured using the inventory turnover ratio. This research employs a quantitative approach using multiple linear regression analysis, supported by partial (t-test) and simultaneous (F-test) hypothesis testing. The results indicate that sales growth does not have a significant partial effect on working capital, firm size has a significant effect on working capital, and inventory turnover does not have a significant effect on working capital. Simultaneously, sales growth, firm size, and inventory turnover have a significant effect on working capital. The coefficient of determination shows that these independent variables explain 89.6% of the variation in working capital, while the remaining 10.4% is influenced by other factors not included in this study. This research is expected to provide insights for corporate management in improving working capital management effectiveness. Keywords: Sales Growth, Firm Size, Inventory Turnover, Working Capital, Working Capital Management. ABSTRAK Dalam lingkungan bisnis yang semakin kompetitif, pengelolaan modal kerja merupakan aspek penting yang menentukan kelangsungan dan efektivitas operasional perusahaan. Modal kerja digunakan untuk membiayai kegiatan operasional jangka pendek, seperti pembelian bahan baku, pembayaran gaji, dan biaya produksi. Penelitian ini bertujuan untuk menganalisis pengaruh pertumbuhan penjualan, ukuran perusahaan, dan perputaran persediaan terhadap modal kerja pada PT Akasha Wira International Tbk (ADES) periode 2015–2024. Modal kerja diukur menggunakan working capital, pertumbuhan penjualan diukur dengan sales growth ratio, ukuran perusahaan diukur berdasarkan total aset, dan perputaran persediaan diukur menggunakan inventory turnover ratio. Metode penelitian yang digunakan adalah pendekatan kuantitatif dengan analisis regresi linier berganda, yang diuji melalui uji parsial (uji t) dan uji simultan (uji F). Hasil penelitian menunjukkan bahwa secara parsial pertumbuhan penjualan tidak berpengaruh signifikan terhadap modal kerja, ukuran perusahaan berpengaruh signifikan terhadap modal kerja, sedangkan perputaran persediaan tidak berpengaruh signifikan terhadap modal kerja. Secara simultan, pertumbuhan penjualan, ukuran perusahaan, dan perputaran persediaan berpengaruh terhadap modal kerja. Nilai koefisien determinasi menunjukkan bahwa ketiga variabel independen tersebut mampu menjelaskan variasi modal kerja sebesar 89,6%, sementara sisanya sebesar 10,4% dipengaruhi oleh faktor lain di luar penelitian ini. Penelitian ini diharapkan dapat memberikan kontribusi bagi manajemen perusahaan dalam meningkatkan efektivitas pengelolaan modal kerja. Kata kunci: Pertumbuhan Penjualan, Ukuran Perusahaan, Perputaran Persediaan, Modal Kerja, Working Capital Management.

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