Pengaruh Working Capital Turnover, Sales Growth, dan Firm Size terhadap Return on Asset pada Perusahaan Sub Sektor Industrial Goods yang terdaftar di Bursa Efek Indonesia Periode 2021-2025.

Sartika, Mirna (2026) Pengaruh Working Capital Turnover, Sales Growth, dan Firm Size terhadap Return on Asset pada Perusahaan Sub Sektor Industrial Goods yang terdaftar di Bursa Efek Indonesia Periode 2021-2025. Sarjana (S1) thesis, STIE Tri Bhakti.

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Abstract

This study aims to analyze the effect of Working Capital Turnover, Sales Growth, and Firm Size on Return on Asset in Industrial Goods sub-sector companies listed on the Indonesia Stock Exchange for the 2021–2025 period. This study uses a quantitative approach with secondary data obtained from companies’ annual financial reports. The sample was selected using purposive sampling, resulting in 22 companies with a total of 110 observations. Data analysis was conducted using panel data regression with the Random Effect Model (REM), along with partial and simultaneous hypothesis testing. The results show that Working Capital Turnover has no significant effect on Return on Asset, with a t-statistic of 0.4351 and a probability value of 0.6644 > 0.05. Sales Growth has a positive and significant effect on Return on Asset, with a t-statistic of 3.8977 and a probability value of 0.0002 < 0.05. Firm Size has no significant effect on Return on Asset, with a t-statistic of 0.2355 and a probability value of 0.8143 > 0.05. Simultaneously, Working Capital Turnover, Sales Growth, and Firm Size have a significant effect on Return on Asset, with an F-statistic of 4.9750 and a probability value of 0.002867 < 0.05. The R-Squared value of 9.86% indicates that the three independent variables explain 9.86% of the variation in Return on Asset, while the remaining 90.14% is explained by other factors outside the research model.

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