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PENGARUH ARUS KAS,MODAL KERJA DAN UKURAN PERUSAHAAN TERHADAP UKUIDITAS PERUSAHAAN FARMASI YANG TERDAFTAR DI BEI
In the current business world, the liquidity of a company becomes an attention for many parties both internal and external. The high funds which are needed by the company in order to be able to compete have made the management need to do controlling and company financial performance improvement for the company operational development.
As much as 9 pharmaceutical companies which are listed in the Indonesia Stock Exchange and are selected by purposive sampling are used as the population in this research. As much as 8 companies which are in appropriate with the research limitation which are listed in the Indonesia Stock Exchange have positive cash flow and have financial statements which were audited for the period 2008-2011 are used in this research as the samples. The test which is used in this research is the classic assumption test, multiple regression tests, f-test, t-test and the determination coefficient. All classic assumption equation tests have fulfilled the criteria which are not allowed to be biased or have the quality of BLUE (Best Linear Unbiased Estimator).
The results of research indicates that of all independent variables which are cash flow, working capital and total assets whether partially or simultaneously have significant influence to the liquidity of pharmaceutical companies which are listed in the Indonesia Stock Exchange. Moreover, based on the determination coefficient value, it indicates that there is a strong influence among the independent variables to the dependent variables as much as 87.80%.
Keywords: Liquidity, Working Capital, Total Assets, Cash Flow
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