ANALYSIS THE INFLUENCE OF WORKING CAPITAL MANAGEMENT AND PROFITABILITY TOWARDS DIVIDEND PER SHARE AND SHARE PRICE OF THE COMPANY (A STUDY ON MANUFACTURING COMPANY WHICH LISTED IN INDONESIA STOCK EXCHANGE IN PERIOD 2008 - 2012)

Abstract

The objective of this study is to find out the influence of working capital turnover, cash turnover, account receivable turnover, inventory turnover and return on investment to dividend per share and share price of manufacturing companies in period 2008 - 2011. The reason to choose this topic is because researcher wants to find out the influence of five independent variables due to crisis in 2008. The crisis in 2008, made many companies declare bankrupt because of it. Based on it, researcher will analyze the results and discussed it. The method of this research is using quantitative method and used multiple regression in calculate the data. The data that used of research is from secondary data which taken from Indonesia Stock Exchange that have published and audited. The secondary data are Dividend per Share, Share Price, Return on Investment, Working Capital, Cash Turnover, Account Receivable, and Inventory. The result of this research using t test that working capital turnover, cash turnover and account receivable turnover, inventory turnover haven’t significant influence to Dividend per Share and Share Price, while Return on Investment have significant influence to Dividend per Share and Share Price. The result of the research simultaneously using F test shows that all of independent variables influence significant to Dividend per Share and Share Price. The coefficient determinant (R2) is 0.668 which means 66,8 % Share Price variation explained by five independent variables, whereas 33,2% explained by another variables which is not followed, and 0.772 which means 77,2 %.Dividend per Share variation explained by five independent variables, while remaining 22,8 % explained by another variables which is not followed.