Determinasi Profitabilitas Perusahaan: Bukti Empiris Manajemen Kas, Persediaan, dan Biaya Operasional di Bursa Efek Indonesia

Abstract

This study aims to examine the effects of cash management, inventory, and costs on the profitability of companies listed on the Indonesia Stock Exchange (IDX). A quantitative approach was employed using secondary data obtained from corporate financial statements. The data were analyzed using multiple linear regression, preceded by classical assumption tests, including normality, multicollinearity, and heteroscedasticity tests. The test results indicated that the regression model satisfied the classical assumptions and was suitable for further analysis. The regression results revealed that cash management, inventory, and costs had no statistically significant partial effects on profitability. Similarly, the simultaneous test indicated that these three variables had no statistically significant joint effect on profitability. Furthermore, the coefficient of determination showed that the model had relatively limited explanatory power in accounting for variations in profitability. These findings suggest that the profitability of the companies examined may be associated with other factors beyond those included in the research model. This study implies that companies should consider various internal and external factors when formulating strategies to improve profitability. Future research is encouraged to incorporate additional relevant variables, such as capital structure, sales growth, operational efficiency, and macroeconomic conditions, to provide a more comprehensive understanding of the factors influencing corporate profitability.