The effect of receivables turnover and working capital turnover on the current ratio
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Abstract
The purpose of this study is to explore the effect of accounts receivable turnover (ART) and working capital turnover (WCT) on the current ratio (CR). Case study at PT. Astra Agro Lestari Tbk, which is listed on the Indonesia Stock Exchange (IDX). The research design uses a quantitative approach. Observation and documentation data collection techniques, research data sources are secondary data with a ratio data scale. The unit of analysis is the company's financial statements, the purposive sampling approach was chosen in the sample withdrawal for 36 quarters, namely for nine periods of financial statement data from 2015-2023. The data analysis method was used with classical assumption test, correlation test, calculation and analysis of the determination coefficient model, and multiple linear regression model test, as well as hypothesis test by applying t-test and F-test, using the SPSS v.26 program. The results showed that there was a weak correlation between ART and WCT and CR. There is no linear relationship between ART and CR, as well as between WCT and CR. ART partially has a significant negative effect on the CR. WCT partially has no effect on the CR. However, the ART and WCT simultaneously have a positive and significant effect on the CR. Receivables turnover (ART) and working capital turnover (WCT) can simultaneously explain the current ratio (CR) variance, with moderate contribution and predictive power.
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References
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