ABSTRACT The main focus of financial statements is profit, so the information of financial statement should have the ability to predict future profit. The estimates of the profit can be made by analyzing financial statements. The analysis of financial statement using financial ratios is a very common practice in which the results will provide relative measurements of the company's operations. The purpose of this research is to know the influence of Current Ratio (CR), Debt to Equity Ratio (DER), Total Assets Turnover (TAT), Gross Profit Margin (GPM), Net Profit Margin (NPM), and Return on Equity (ROE) on the profit growth both partially and simultaneously. The method that is used in this research is hypothetical test methods The financial data are taken from the manufacturing companies listed in Indonesia Stock Exchange (IDX) 2007-2009. The data are analyzed using Moderated Regression Analysis (MRA). The results show that Current Ratio (CR), Debt to Equity Ratio (DER), Total Assets Turnover (TAT), Gross Profit Margin (GPM), Net Profit Margin (NPM), and Return on Equity (ROE) had no effect on profit growth both partially and simultaneously . Keywords: CR, DER, TAT, NPM, ROE, profit growth
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ABSTRAK Fokus utama laporan keuangan adalah laba, jadi informasi laporan keuangan seharusnya mempunyai kemampuan untuk memprediksi laba di masa depan. Estimasi terhadap laba dapat dilakukan dengan menganalisis laporan keuangan. Analisis laporan keuangan dengan menggunakan rasio keuangan merupakan hal yang sangat umum dilakukan di mana hasilnya akan memberikan pengukuran relatif dari operasi perusahaan. Tujuan dari penelitian ini adalah untuk mengetahui pengaruh Current Ratio (CR), Debt to Equity Ratio (DER), Total Assets Turnover (TAT), Gross Profit Margin (GPM), Net Profit Margin (NPM), dan Return on Equity (ROE) terhadap pertumbuhan laba baik secara parsial maupun secara simultan. Metode yang digunakan dalam penelitian ini adalah metode pengujian hipotesis. Data Keuangan diambil dari perusahaan manufaktur yang terdaftar di Bursa Efek Indonesia (BEI) tahun 2007-2009. Data dianalisis menggunakan Moderated Regression Analysis (MRA). Hasil penelitian menunjukkan bahwa variabel Current Ratio (CR), Debt to Equity Ratio (DER), Total Assets Turnover (TAT), Gross Profit Margin (GPM), Net Profit Margin (NPM), dan Return on Equity (ROE) tidak berpengaruh terhadap pertumbuhan laba baik secara parsial maupun simultan. Kata-kata kunci : CR, DER, TAT, GPM, NPM, ROE, pertumbuhan laba
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DAFTAR ISI Halaman HALAMAN JUDUL..................................................................................................... i HALAMAN PENGESAHAN ...................................................................................... ii SURAT PERNYATAAN KEASLIAN SKRIPSI ....................................................... iii KATA PENGANTAR ................................................................................................ iv ABSTRACT .................................................................................................................. vi ABSTRAK ................................................................................................................. vii DAFTAR ISI ............................................................................................................. viii DAFTAR GAMBAR ................................................................................................ xiii DAFTAR TABEL ..................................................................................................... xiv DAFTAR GRAFIK ................................................................................................... xv DAFTAR LAMPIRAN ............................................................................................. xvi
BAB I PENDAHULUAN ............................................................................................ 1 1.1 Latar Belakang ........................................................................................... 1 1.2 Identifikasi Masalah ................................................................................... 6 1.3 Tujuan Penelitian........................................................................................ 7 1.4 Manfaat Penelitian...................................................................................... 7
BAB II KAJIAN PUSTAKA, KERANGKA PEMIKIRAN DAN PENGEMBANGAN HIPOTESIS ................................................................... 9 2.1 Kajian Pustaka ......................................................................................... 9
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2.1.1 Laporan Keuangan ......................................................................... 9 2.1.1.1 Pengertian Laporan Keuangan .......................................... 9 2.1.1.2 Tujuan Laporan Keuangan .............................................. 10 2.1.1.3 Karakteristik Kualitas Informasi Laporan Keuangan ...... 11 2.1.1.4 Pemakai Laporan Keuangan ............................................ 14 2.1.1.5 Keterbatasan Laporan Keuangan ..................................... 17 2.1.1.6 Elemen Laporan Keuangan ............................................. 18 2.1.1.6.1 Neraca (Balance Sheet) ................................... 18 2.1.1.6.3 Laporan Laba Rugi (Income Statement) ......... 19 2.1.1.6.3 Laporan Perubahan Ekuitas (Statement of Owner’s Equity) .............................................. 20 2.1.1.6.4 Laporan Arus Kas (Statement of Cash Flows) 21 2.1.1.6.5 Catatan Atas Laporan Keuangan (Notes to Financial Statement) ....................................... 21 2.1.1.6.6 Informasi Tambahan dalam Laporan Keuangan…………………………………….22 2.1.2 Analisis Laporan Keuangan ........................................................ 24 2.1.2.1 Pengertian Analisis Laporan Keuangan .......................... 24 2.1.2.2 Tujuan Analisis Laporan Keuangan ................................ 26 2.1.2.3 Teknik-Teknik Analisis Laporan Keuangan ................... 26 2.1.2.4 Keterbatasan Analisis Laporan Keuangan ...................... 27 2.1.3 Analisis Rasio Keuangan ............................................................ 28 2.1.3.1 Jenis-Jenis Rasio.............................................................. 31
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2.1.3.2 Current Ratio (CR).......................................................... 33 2.1.3.3 Debt to Equity Ratio (DER) ............................................ 34 2.1.3.4 Total Asset Turnover (TAT) ............................................ 34 2.1.3.5 Gross Profit Margin (GPM) ............................................ 35 2.1.3.6 Net Profit Margin (NPM) ................................................ 36 2.1.3.7 Return on Equity (ROE) .................................................. 36 2.1.4 Pertumbuhan Laba ....................................................................... 38 2.1.4.1 Pengertian dan Karakteristik Laba .................................. 38 2.1.4.2 Faktor-Faktor yang Mempengaruhi Pertumbuhan Laba . 40 2.1.4.3 Analisis Pertumbuhan Laba............................................. 41 2.2 Kerangka Pemikiran ................................................................................. 43 2.3 Pengembangan Hipotesis ........................................................................... 51
BAB III METODE PENELITIAN............................................................................. 50 3.1 Metode Penelitian .................................................................................. 52 3.2 Operasionalisasi Variabel…………………………………………….. 52 3.3 Populasi Penelitian……………………………………………………. 55 3.4 Teknik Penarikan Sampel…………………………………………….. 55 3.5 Teknik Pengumpulan Data…………………………………………… 55 3.6 Metode Analisis………………………………………………….…… 56 3.6.1
Uji Normalitas…………………………………………….….. 57
3.6.2
Uji Multikolinearitas…………………………………………. 57
3.6.3
Uji Autokorelasi……………………………………………… 58
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3.6.4
Uji Heteroskedastisitas……………………………..………… 58
3.6.5
Moderated Regression Analysis (MRA)………………........... 59
BAB IV HASIL PENELITIAN DAN PEMBAHASAN ........................................... 60 4.1 Hasil Penelitian ...................................................................................... 60 4.1.1
Gambaran Umum Perusahaan ................................................... 60
4.1.2
Hasil Pengumpulan Data ........................................................... 70
4.1.3
Uji Asumsi Klasik ................................................................. …75 4.1.3.1 Uji Normalitas Kolmogorov-Smirnov……………
75
4.1.3.2 Uji Multikolinearitas………………………………....76 4.1.3.3 Uji Autokorelasi……………………………………. 79 4.1.3.4 Uji Heterokedastisitas……………………………… 80 4.1.3.5 Moderated Regression Analysis (MRA)…………… 82 4.1.3.5.1 4.1.4
Persamaan Model Regresi…………….. 82
Pengujian Koefisien Regresi Secara Parsial ............................. 83 4.1.4.1 Pengaruh Current Ratio Terhadap Pertumbuhan Laba………………………………………………… 84 4.1.4.2 Pengaruh Debt to Equity Ratio Terhadap Pertumbuhan Laba ............................................................................ 84 4.1.4.3 Pengaruh Total Asset Turnover Terhadap Pertumbuhan Laba ............................................................................ 85 4.1.4.4 Pengaruh Gross Profit Margin Terhadap Pertumbuhan Laba ............................................................................ 86
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4.1.4.5 Pengaruh Net Profit Margin Terhadap Pertumbuhan Laba ............................................................................ 87 4.1.4.5.1 Pengaruh Return on Equity Terhadap Pertumbuhan Laba ............................................................................ 87
4.2
4.1.5
Pengujian Koefisien Regresi Secara Simultan .......................... 88
4.1.6
Koefisien Korelasi Parsial ......................................................... 90
4.1.7
Koefisien Determinasi Simultan ................................................ 92
Pembahasan.......................................................................................... 93
BAB V SIMPULAN DAN SARAN .......................................................................... 97 5.1 Simpulan ................................................................................................ 96 5.3 Saran ...................................................................................................... 99
DAFTAR PUSTAKA .............................................................................................. 101 LAMPIRAN ............................................................................................................. 104 RIWAYAT HIDUP .................................................................................................. 121
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DAFTAR GAMBAR Halaman Gambar 1
Karakteristik Kualitatif Informasi (FASB) ......................................... 13
Gambar 2
Kerangka Pemikiran ........................................................................... 50
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DAFTAR TABEL Halaman Tabel I
Operasionalisasi Variabel………………………………………….. 53
Tabel II
Daftar Perusahaan…………………………………………………...70
Tabel III
Data Current Ratio/CR (X1) ………………………………………..71
Tabel IV
Data Debt Equity Ratio/DER (X2) ……………………………….....71
Tabel V
Data Total Asset Turnover/TAT (X3) ………………………………72
Tabel VI
Data Gross Profit Margin/GPM (X4) ………………………………72
Tabel VII
Data Net Profit Margin/NPM (X5) …………………………………73
Tabel VIII
Data Return on Equity/ROE (X6) ……………………………….….74
Tabel IX
Data Pertumbuhan Laba (Y) …………………………………….….74
Tabel X
Uji Multikolinearitas…………………………………………….......78
Tabel XI
Uji Autokorelasi……………………………………………………..79
Tabel XII
Uji Heterokedastisitas Pertama…………………………………..….80
Tabel XIII
Uji Heterokedastisitas Kedua………………………………...…..…81
Tabel XIV
Koefisien Regresi……………………………………………….…...83
Tabel XV
Pengujian Koefisien Regresi……………………………………..….89
Tabel XVI
Koefisien Korelasi Parsial………………………………………..….91
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DAFTAR GRAFIK Halaman Gambar 1
Uji Normalitas .................................................................................... 76
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DAFTAR LAMPIRAN Halaman LAMPIRAN A
Daftar Perusahaan manufaktur yang Terdaftar di Bursa Efek Indonesia Periode 2007-2009 (Sampel)………………… 101
LAMPIRAN B
Data Keuangan Perusahaan Tahun 2007-2009……………….. 105
LAMPIRAN C
Data Penelitian………………………………………….…….. 120
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